Summary - 1a-17a Cheveley Park, Durham DH1 2AA
34 bed 1 bath Apartment
**Key Features:**
- Block of 17 two-bedroom apartments
- Current income: £69,720 per annum; potential rental increase to over £100,000
- Situated in a popular residential location near Durham City Centre
- Close proximity to amenities including shops, schools, and recreational facilities
- Four apartments currently vacant, providing renovation and leasing opportunities
- Enclosed courtyards and common grounds included
- Freehold interest offering flexibility in future sales or leasing strategies
- Estimated maintenance charge of around £1,000 per apartment
This impressive investment opportunity features 17 spacious two-bedroom apartments located in the sought-after Belmont area of Durham. Currently yielding an annual income of £69,720, there is significant potential for increased earnings as ongoing lease renewals often allow for rent adjustments to align more closely with current market rates—possibly boosting income to over £100,000 annually. With four flats unoccupied, investors can capitalize on the chance to enhance and re-let these units.
Residents will enjoy a community-rich environment with diverse amenities right at their doorstep, including convenient shopping options and well-regarded schools. While the property does require a comprehensive maintenance plan and some renovations may be necessary to achieve optimal rental values, the existing structure has a solid foundation for future growth. Given its excellent location and income potential, this block of apartments presents an exclusive opportunity for savvy investors looking to expand their buy-to-let portfolio in an affluent area of Durham. Don't miss out – this property won't be available for long!
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