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A excellent investment opportunity - this successfully run block of flats offers an investor the chance to buy a ready set up and running block of 5 self contained apartments PLUS it includes a Garage/workshop with further letting potential. Currently offering around a 10% yield . The location is ideal - just a couple of minutes walk from the town centre and 30 seconds from Morrisons. The whole property consists of a main building with three ONE bedroom flats & a very large TWO bedroom maisonette. At the rear there is a large garage + workshop (suitable for various uses) and a TWO bedroom flat above. All apartments have their own electric heating (except the maisonette which has its own gas central heating) and double glazing. There is an area of hardstanding/parking at the rear and an enclosed courtyard frontage. All the flats are occupied (as of 2023) on assured shorthold tenancies and the new owner will retain all rights and responsibilities of the landlord on completion.Main Building: , With a front porch/lobby and further secure door to:Main hallway - with emergency lighting, smoke alarm and stairs leading to the first floor landing.The ground floor hallway provides access to Flat One and the MaisonetteFlat 1 (ground floor): , Entrance LobbyLounge/Kitchenette 5.26m x 4.29m (17'3" x 14'1") maximumBedroom 3.96m x 4.37m (13' x 14'4") max into recessShower RoomMaisonette: , Front/Dining Room 4.60m x 4.44m (15'1" x 14'7")Lounge 4.44m x 4.09m (14'7" x 13'5")Kitchen 5.33m x 2.95m (17'6" x 9'8")Rear entrance lobby Bathroom 2.92m x 1.83m (9'7" x 6')Stairs & LandingBedroom One 3.43m x 2.97m (11'3" x 9'9")Bedroom Two 3.66m x 2.16m (12' x 7'1")Main Stairs & Landing: , providing access to a communal storage cupboard and to Flats 2 and 3Flat 2 (first floor): , Lounge KitchenetteBedroomShower RoomFlat 3 (first floor - front): , HallwayKitchen 3.53m x 3.23m (11'7" x 10'7")Lounge 4.57m x 3.35m (15' x 11')Bedroom 4.14m x 2.92m (13'7" x 9'7") ext to 14'9Shower Room 1.40m x 1.75m (4'7" x 5'9") ext to 8'10Flat 4 (accessed separately from the rear): , Flat 4 is accessed from the rear of the property with its own independent external door:-Ground floor Lobby/Hallway with stairs leading to the first floorFirst floor landing/hallwayLounge/Diner 4.42m x 4.22m (14'6" x 13'10") maximumKitchen 2.31m x 1.90m (7'7" x 6'3")Bedroom One 4.42m x 2.51m (14'6" x 8'3")Bedroom Two 2.29m x 2.26m (7'6" x 7'5")Shower RoomGarage & Workshop: , Positioned at the rear of the building, (underneath Flat 4) with a full sized up and over door and a separate personnel door at the side. Divided into two large rooms with electric connected to both. Currently used as storage and workshop.Room One = 6.20m x 4.57m (20'4" x 15')Room Two = 4.04m x 3.56m (13'3" x 11'8")EPC's: , Flat 1:- Flat 2:- Flat 3:- Flat 4 (24A):- Maisonette:-Council Tax Bands: , Flat 1:- AFlat 2:- AFlat 3:- AFlat 4 (24A):- AMaisonette:- ACurrent Rental Income: , As of Nov 2023 the rental income equates to 29,400
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First listed

Over a month ago

Skegness, PE25

Marketed by

Beam Estate Agents 12 Lincoln Road,Skegness,Lincs,PE25 2RZ
Call agent on 01754 629305
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