Summary - 50 RUSSELL STREET JARROW NE32 3AW
3 bed 1 bath Terraced
Three-bedroom top-floor flat, tenanted and sold with tenants in situ
Short lease: 61 years remaining — many lenders likely to refuse mortgages
Cash or specialist lending likely required; lease-extension reportedly in progress
Recently installed boiler; gas central heating and double glazing throughout
Shared rear yard; no private garden, on-street parking only
Located in very deprived area with high local crime rates — affects demand
Fast broadband and excellent mobile signal; council tax Band A (very cheap)
Victorian mid-terrace construction; solid brick walls, possible need for insulation/modernisation
This three-bedroom top-floor flat in Russell Street, Jarrow, is presented as an immediate buy-to-let opportunity. The property is currently tenanted and sold with no forward chain, offering cash buyers immediate rental income. Practical benefits include double glazing, a recently installed boiler, gas central heating, fast broadband and excellent mobile signal.
There are important constraints: the property is leasehold with 61 years remaining. Many mortgage lenders are likely to refuse standard lending on a short lease, so purchasers should be prepared for cash purchase or specialist lending. The property sits in a very deprived area with higher-than-average crime rates, which will influence tenant demand and capital growth prospects.
Accommodation is spacious for a top-floor flat of this type, with a living room, fitted kitchen, three bedrooms and a family bathroom, plus a shared rear yard. The building is a Victorian mid-terrace of solid brick construction and may benefit from further modernisation in parts; there is no confirmed wall insulation. Council tax is low (Band A) and on-street parking is available nearby.
This is best suited to an investor comfortable with short-lease buy-to-let acquisitions or a buyer able to fund a lease extension before re-mortgaging. All material negatives—including lease length, location-related risks and potential need for upgrades—are disclosed so buyers can assess yield versus future costs and work required.
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