Residential investment opportunity in need of some updating with potential of £27,000 income pa

This residential investment opportunity comprises of three rental properties and a double garage. Currently one of the properties are let with an income of £4,800 (below market value). The former corner shop was given planning to convert to a one bedroom flat which is in good order and vacant. In need of some improvements the first floor flat above the shop comprises of two bedrooms, and is vacant. Beside this is a two bedroom terraced house with double garage, construction consists of double cavity and reinforced steel footings which would allow two extend 51b (subject to planning permission. This property is in need of some updating and has been let to the same tenant for approximately 25 years. This is a substantial property with great opportunities to increase the yield once improvements have been made.

Tenure

Freehold

Flat in corner shop

Entrance lobby, open plan kitchen/lounge, one bedroom with ensuite

First floor flat

Hall with stairs to first floor, landing, kitchen, bathroom, bedroom, sitting room with stairs to attic bedroom

Terraced house

Hall, kitchen, lounge/diner, stairs to first floor, two bedrooms and bathroom

Garage

Currently tenanted with terraced house

Viewing

Open Viewings can be scheduled. APPOINTMENT ESSENTIAL, please call our Norwich office on 01603 505100 to be allocated a time slot

Council Tax Band

A

Energy Efficiency Rating (EPC)

Current Rating 51 - D, 51A - F, 51B - G

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

Leathes Prior, Ref: Rob Sibley, Tel: 01603 281104

Additional Fees

Buyer's Premium - £960 inc VAT payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum 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.