Substantial Freehold Investment as 5 self contained flats and 3 garages producing £51,000 per annum

A substantial Victorian end terrace property arranged as 5 self contained flats with a good garden backing west and a block of 3 garages to the rear approached via a service road accessed from Cumberland Road. All flats have individual gas fired central heating systems and are let on Assured Shorthold Agreements.The block of garages are all let to the same occupier on a separate garage licence. The property has potential ( subject to usual consents ) for conversion back into a house. Rent Schedule: Flat 1 Front Studio 24 sqm Let at £575 pcm Flat 2 Rear 1 bedroom flat 54 sqm Let at £875 pcm Flat 3 Rear 1 bedroom flat 48 sqm Let at £900 pcm Flat 4 Front Studio 24 sqm Let at £650 pcm Flat 5 Top floor 2 bedroom flat 50 sqm Let at £1,000pcm 3 garages let total £250 pcm Total rental income £51,000

Situation

Situated on level ground forming part of the Clermont Estate and being within a 5 minute walk of Preston Park mainline station with direct access to London. Brighton City centre is 2 miles to the South. The property lies in the Preston Park Conservation area.

Energy Efficiency Rating (EPC)

Current Rating D

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.