Summary - 33 WYTHAM STREET PADIHAM BURNLEY BB12 7DX
2 bed 1 bath End of Terrace
Portfolio-friendly rental with immediate income and refurbishment upside.
- Long-term tenant in situ, current rent £425 pcm
Offered as part of a 13-property portfolio, this stone-built Victorian end-terrace is currently let to a long-term tenant at £425 pcm. The property is straightforward in layout with two bedrooms, separate living and dining rooms, a kitchen, bathroom and gas central heating — basics in place for continued rental income. At the asking price of £70,000 the current rent produces a gross yield of about 7.3% (annual rent £5,100), making it suitable for landlords seeking immediate income.
The house retains period character externally and benefits from double glazing and mains gas heating, but much of the interior is dated and will need modernization to increase rental value or to convert to owner-occupation. The stone walls are likely uninsulated and improvements to thermal efficiency should be expected if planning refurbishment.
Buyers should note material area factors: this part of Padiham is classified as very deprived with very high crime levels and a medium flood risk. The property is leasehold and is sold with a tenant in situ, which limits vacant possession options and may affect refurbishment timing. Council tax costs are very low, and local transport links and amenities are nearby, which supports continued rental demand.
This is a pragmatic purchase for investors who want immediate cashflow from an established tenancy and are prepared to manage a property in an economically challenged area. It will also suit buyers seeking a renovation project with potential to improve capital value and rental income, but those sensitive to location-related risks should discount accordingly.
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