Rarely available Freehold investment - 3 flats (2 statutory tenants) producing £23,166 pax

Inner terraced, 3 storey building with slate roof arranged as 3 self contained flats including a good sized maisonette.(circa 75 sqm) Two flats are occupied by single statutory tenants who have each been in occupation for circa 50 years. The ground floor flat is let on an AST and is a refurbished flat with gas central heating. The two statutory flats are in a very basic condition.

Lot Type

Residential

Situation

The property is situated in central Hove between Church Road and Hove seafront/lawns/promenade. Immediately adjacent are shopping facilities and Hove station a 10 minute walk. Brighton city centre is close to hand.

Accommodation

LGFF Private entrance, living room, bedroom, kitchen, Bath/WC, Whole of rear garden - circa 58 sqm. This flat is let to a statutory tenant at a registered rent of £476 pcm. Effective from 4th January 2021 GFF Entrance Hall, lounge, bedroom, kitchen, Bath/WC - EPC states 49 sq.m. The flat is let on an Assured Shorthold Tenancy at £885 pcm MAISONETTE First Floor Large front lounge, good size kitchen/diner, separate WC, bathroom Second floor 2 bedrooms - circa 75 sqm. The Maisonette is let on a statutory tenancy at a registered rent of £569.50 pcm effective from 4th January 2021

Additional Fees

Administration Charge - Purchasers will be required to pay an Administration fee of 0.5% (inc VAT) of the sale price, subject to a minimum of £1,500 (£1,250 plus VAT)

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