Summary - Flat 4, 35, The Parade CO14 8AP
1 bed 1 bath Flat
Immediate rental income and long lease near the beach, sold at auction with fees.
Sold with tenant in situ producing £7,800 pa rental income
A compact one-bedroom flat offered to the market as a rental investment, sold with a tenant in situ producing a gross rental income of £7,800 per year. The property occupies a Victorian terrace close to the seafront and retains period features such as high ceilings and a bay window that help attract long-term tenants.
Practical positives include a very long lease (approximately 976 years), gas central heating and double glazing. The location offers immediate rental demand from visitors and local renters thanks to nearby amenities, transport links and the beach; council tax is reported as very cheap.
Buyers should budget for immediate cosmetic and maintenance work: the bathroom is dated and shows wear and will need repair, and the building’s cavity walls are assumed to lack insulation. The property is sold by Modern Method of Auction with an undisclosed reserve, a non-refundable reservation fee and buyer fees — full auction terms and additional costs apply.
This is best suited to investors seeking an income-producing seaside asset who are comfortable buying at auction, accepting tenants in place, and arranging any remedial works. Note the local area has high crime and high deprivation levels, which may influence lettings, insurance and resale prospects.
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