Renovated, low-cost investment with immediate rental return and short lease considerations.
Tenanted at £625 pcm, immediate income
A straightforward, income-producing three-bedroom apartment offered at a low guide price — aimed squarely at investors. The flat has been recently renovated with a modern fitted kitchen, double glazing and mains gas central heating, and is currently let for £625 pcm, providing immediate rental income. The accommodation includes a lounge, integrated kitchen, three bedrooms, a family bathroom plus separate WC, and a small balcony.
Practical advantages include 86 years remaining on the lease, fast broadband and excellent mobile signal, low council tax (Band A) and convenient travel links toward Sunderland, Newcastle and Durham. The property’s size (about 872 sq ft) and updated fixtures reduce short-term capital expenditure for a buyer seeking a ready-made let.
Important considerations: this is a leasehold apartment sold via online auction — fees apply — and the sale will be subject to the existing tenancy, so the buyer will acquire the property with the tenant in place. The wider area has high crime levels and is classified as very deprived, which can affect re-letting prospects and long-term capital growth. Early inspection is recommended for buyers to assess condition and rental paperwork before bidding.
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