Summary - Ingoe Street, Wallsend, Tyne and Wear, NE28 NE28 0LA
3 bed 2 bath Flat
Ready-made rental income with low entry price and refurbishment potential.
Two self-contained flats on one freehold title generating £11,400 pa
Two self-contained flats offered together on a single freehold title create a straightforward, income-producing investment in Wallsend. Currently let for a combined £950pcm (£11,400pa), the lot is being sold at auction with a low guide price that reflects both immediate cashflow and scope for capital upside.
The building is a Victorian end-terrace of solid brick construction (likely no cavity insulation) with double glazing and gas central heating to each flat. The ground-floor one-bedroom and first-floor two-bedroom are separately metered and benefit from separate entrances, making management simple for a landlord or portfolio buyer. There is a small garden and good local transport links to Newcastle and the coast.
Buyers should note material considerations: the area scores high for crime and very high on deprivation indices, which affects demand and long-term values. The walls are solid brick (assumed uninsulated) and the EPCs are C and D — further thermal improvements may be needed to reduce running costs and meet future standards. Sold at auction, the property will transfer as seen and buyers must allow for refurbishment, routine maintenance and compliance checks.
This lot suits investors seeking immediate rental income, portfolio builders looking for low-entry-price stock or hands-on buyers able to budget for insulation and upgrade works. The low guide price and existing tenancy income make this a clear buy-to-let play, but factor in local market risks and likely refurbishment costs when budgeting.
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