Summary - 1 ERROL STREET HARTLEPOOL TS24 8BG
2 bed 1 bath Terraced
Two-bedroom let with long-term tenant and strong gross yield.
Freehold two-bedroom Victorian terraced house with tenant in situ
A compact two-bedroom Victorian terraced home offered freehold with a long-term tenant in place, producing an annual gross income of £5,400. Priced at £55,000, the current income represents an approximate gross yield of about 9.8%, making this a straightforward income play for buy-to-let portfolios.
The property sits directly onto the pavement with no front garden and very limited external space. Externally the facade is dated but serviceable; internally the living areas are described as dated and in need of modernization. Potential purchasers should plan for cosmetic refurbishment to achieve higher rental values or to reposition the asset for re-letting at market rates.
Notable local factors: the area is described as very deprived with very high local crime levels, which may affect tenant profiles, lettability and capital growth. Broadband and mobile signal are good and local amenities and several schools are within reach, supporting steady rental demand despite local socioeconomic challenges.
Practical points for buyers: the property is sold with a sitting tenant who intends to remain, so this suits investors seeking immediate rental income rather than vacant possession. There is a buyers’ premium applicable to the sale. Full investment details and tenancy documentation are available in the Let Property Pack and should be reviewed before offer.
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