This whole development which consists of 6 x 2BED apartments for just £220,000 which INCLUDES the freehold, meaning there are no service charges or ground rent to pay.
The development was built in 2008 and consists of 3 x 2BED apartments on the ground floor in addition to 3 x 2BED apartments on the first floor.
Each apartment rents for £325 per calendar month.
The units are currently undergoing a complete refurbishment to include new carpets, re-paint and complete redecoration throughout.
ALL 6 of the units will be tenanted by the time you complete on the purchase as we have made this a condition of the sale . This means that the development will be FULLY occupied and will bring in £325 per calendar month, per unit i.e. £1,950 per calendar month or £23,400 in gross annual rental income.
The development will deliver £15,301 after deducting ALL deductions including lettings management and your mortgage, meaning £1,275 per calendar month in your back pocket!
You can keep all units and collect the rental income, or split the title and sell off individual units at a profit – the choice is yours!
Photos available upon request!
FREEHOLD – NO service charges or ground rent – EVER!!
Property Address: 29 -31A Main Street, Close House, Bishop Auckland, DL14 8RS