Immediate rental income with room for improvement and EPC uplift.
Sold with tenants in situ — AST from November 2023
A straightforward buy-to-let for investors seeking immediate rental income. The property is sold with tenants in situ (AST, tenancy from November 2023) producing £600 pcm, giving a gross yield of 10.28% on a freehold terraced house. The tenant’s deposit of £605 is held and the contract remains active, so sale proceeds to a buyer who will inherit the existing tenancy.
The house is a traditional two-bedroom Victorian mid-terrace of around 624 sq ft with solid brick walls and mains gas central heating. Accommodation comprises living room, kitchen with rear garden access, two bedrooms and a family bathroom. The EPC is currently D with potential to improve to B; windows are double glazed (install date unknown). The small rear yard and very small plot limit garden potential but keep maintenance low.
Value drivers are the strong gross yield, freehold tenure and good transport links including quick access to the M1 and local amenities. Notable drawbacks: the property needs updating throughout, walls are likely uninsulated (solid brick), the area has higher crime and deprivation indicators, and on-street parking only. This is an investment for buyers comfortable with inheriting a live AST and carrying out any refurbishment or energy-efficiency improvements themselves.
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