Summary - Flat 1, 53 Newark Road LN5 8LS
3 bed 3 bath Town House
Chain-free, fully let three-flat building offering immediate rental income and upgrade potential.
Three self-contained flats producing £1,540pcm (£17,640pa)
A converted Victorian townhouse arranged as three self-contained flats, offered with tenants in situ and producing a current gross income of £17,640pa (9.0% yield at the asking price). The building is freehold and chain-free, making it straightforward for an investor to complete and retain immediate rental income. Flats are independently metered; rents exclude bills.
The property is practical and largely sound but basic: EPC ratings of E across the units, electric storage heaters, and solid-brick walls likely lacking loft or cavity insulation. Internal fittings are serviceable rather than modern, so planned refurbishment or ongoing maintenance will be needed to improve energy performance and maximise future rental value. The communal west-facing rear garden is low maintenance and provides outside space for tenants.
Location is inner-city Lincoln, a short walk from the city centre and local amenities, with good mobile and broadband connectivity. On-street parking only; neighbourhood indicators show higher crime and relative area deprivation, which may affect tenant profiles and long-term capital growth. This asset suits a hands-on investor seeking immediate yield with scope to add value through energy upgrades and cosmetic refurbishment.
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