8 bed flat for sale

Hartington Street, Derby, Derbyshire DE23

Derby Investment Opportunity: Seven Self-Contained Apartments, Gross 11.28% Yield

Attention investors: Presenting a rare and highly lucrative investment opportunity in Derby, this substantial block comprises seven self-contained apartments, currently generating a healthy gross income of approximately £44,000 per annum. This impressive income stream translates to a potential gross yield of 11.28% based on the 'Offers Over' asking price of £395,000, offering immediate returns upon completion.

The property consists of seven fully occupied units, providing a diverse portfolio of rental accommodation. This includes five well-appointed one-bedroom apartments, with separate lounge's, kitchen's and bathrooms. A spacious two-bedroom apartment, and a comfortable studio apartment. Each unit benefits from its own separate meters, EPCs, and fuse boards, ensuring efficient management and tenant accountability. This level of individualisation is a significant advantage for both landlords and residents.

There is considerable potential for future rent increases and cosmetic uplifts, which could further enhance capital gains and overall yield. The apartments are generally spacious throughout and retain charming features, adding to their appeal for tenants. The current occupancy rate underscores the desirability of these units within the local rental market.

Strategically situated in a high rental demand area of Derby, the property benefits from excellent connectivity to local travel routes and a wide array of amenities. This prime location ensures a consistent pool of prospective tenants, minimising vacancy periods and maximising rental income. Residents will appreciate the convenience of nearby shops, services, and transport links, making daily life effortless.

Furthermore, one of the bottom floor rear aspect apartments boasts a sizeable outdoor space to the rear, a valuable amenity that enhances its appeal and potential rental value. This outdoor area provides a private retreat for residents, a feature often sought after in urban living.

This investment offers a robust and diversified income stream from multiple units, reducing risk compared to single-let properties. The established tenancy base and the property's strong fundamentals make it an attractive proposition for both seasoned investors and those looking to expand their portfolio. With its immediate income generation, significant yield potential, and scope for future growth, this Derby apartment block represents a compelling acquisition in the current market. Early viewing is highly recommended to fully appreciate the scale and potential of this outstanding investment.