2 bed flat for sale

Maughan Street, Blyth NE24

Tenanted Two Bedroom Investment Flat | Immediate Rental Income | Popular Coastal LocationAn excellent opportunity for landlords and portfolio investors to acquire a tenanted two-bedroom first floor flat situated in the popular coastal town of Blyth.

Sold with a tenant in situ, the property currently generates a rental income of £595 per calendar month (£7,140 per annum), providing the purchaser with an immediate income-generating investment from completion. Based upon the guide price, this represents a potential gross rental yield of approximately 14.28%.

The property has recently undergone a comprehensive internal update and is presented to a good standard throughout, offering an attractive opportunity for investors looking to add a ready-made rental property to an existing portfolio.

The accommodation is accessed via an entrance vestibule with stairs leading to the first floor landing. There is a comfortable lounge opening through to a fitted kitchen positioned to the rear of the property, together with a bathroom/WC. Two bedrooms are situated to the front of the building.

LocationThe property is conveniently positioned within the popular coastal town of Blyth, which offers an excellent range of everyday amenities including shops, supermarkets, schools and leisure facilities. The town has benefited from significant investment and regeneration in recent years and offers excellent accessibility to Newcastle and the wider region.

The new Blyth Bebside railway station on the Northumberland Line provides direct rail services towards Newcastle, further enhancing the area's appeal for commuters and those working across Tyneside.

Blyth's attractive coastline is another major draw, with the sandy beach at South Beach and its distinctive colourful beach huts close at hand, while the beautiful Northumberland coastline and neighbouring seaside towns and villages are easily accessible.

Tenure & Investment InformationThe property is sold with a Tyneside lease on a 999-year term, with approximately 964 years remaining and a peppercorn ground rent

A ready-made, immediate income-generating investment in a popular rental location, this property should appeal to both established landlords and those looking to expand their investment portfolio.

Key Features

• Tenanted two bedroom first floor flat
• Sold with tenant in situ
• Current rent £595 pcm / £7,140 per annum
• Potential 14.28% gross yield at guide price
• Recently updated internally
• Presented to A good standard throughout
• Lounge opening through to fitted kitchen
• 999-year tyneside lease – approx. 964 years remaining
• Peppercorn ground rent
• Popular coastal location with new rail connections

Council tax Band: A

EPC Rating: D

Night storage heating, mains water and sewage.

Disclaimer

Whilst we make enquiries with the Seller to ensure the information provided is accurate, Yopa makes no representations or warranties of any kind with respect to the statements contained in the particulars which should not be relied upon as representations of fact. All representations contained in the particulars are based on details supplied by the Seller. Your Conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. Please inform us if you become aware of any information being inaccurate.

Money Laundering Regulations

Should a purchaser(s) have an offer accepted on a property marketed by Yopa, they will need to undertake an identification check and asked to provide information on the source and proof of funds. This is done to meet our obligation under Anti Money Laundering Regulations (aml) and is a legal requirement. We use a specialist third party service together with an in-house compliance team to verify your information. The cost of these checks is £82.50 +VAT per purchase, which is paid in advance, when an offer is agreed and prior to a sales memorandum being issued. This charge is non-refundable under any circumstances.