High yielding residential investment producing over £25,000 pa Four let flats

This freehold property was converted into four self contained one bedroom flats around twenty years ago. Currently all the flats are let producing £2,085 pcm (£25,020 pa). Each flat has a separate electricity, water and gas supply. The freehold of no 47 is also included in the sale, which is a one bedroom ground floor flat that has been sold off on a 999 year lease with effect from 1990. The lease allows a contribution of 20% to maintenance of the whole block. The property is located at the end of a no through road in the Thope Hamlet area. It is less than a mile from the city centre close to Carrow Road, Riverside Retail Park and the train station. This is an ideal opportunity for an investor looking for a high yielding investment.

Tenure

Freehold

49

One bedroom ground floor flat accessed from the front let on a periodic Assured Shorthold Tenancy at £515 pcm (£6,180 pa) Entrance hall, bedroom, shower room with wc, kitchen, sitting room.

49a

One bedroom ground floor flat accessed from the rear let on a twelve month Assured Shorthold Tenancy at £545 pcm (£6,540 pa) until 22nd September 2022. Entrance hall, shower room with wc, bedroom, sitting room, kitchen.

51

One bedroom first floor flat accessed from the rear let on a periodic Assured Shorthold Tenancy at £535 pcm (£6,420 pa) Kitchen, sitting room, bedroom with ensuite shower and wc.

51a

One bedroom first floor flat accessed from the rear let on a periodic Assured Shorthold Tenancy at £490 pcm (£5,880 pa) Entrance hall, shower room with wc, bedroom, sitting room, kitchen.

Outside

Two sheds, rear garden, front yard area, off road parking space at the front used by flat no 49

Viewings

Individual viewings are being arranged for Monday 6 June, APPOINTMENT ESSENTIAL. Please call the Norwich office to book an appointment

Energy Efficiency Rating (EPC)

Current Rating C

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Local Authority

Norwich City Council

Solicitors

Birketts, Ref: Kristian Nelson, Tel: 01603 756472

Additional Fees

Buyer's Premium - £900 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a miniumum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.