Summary - 3 Old Wellington Place NR30 3BD
2 bed 1 bath Terraced
Two-bed Victorian mid-terrace with steady rental income and room for value improvement..
- Immediate income: tenants in place producing c. £9,000 pa
This compact Victorian mid-terrace presents a clear investment play just behind Great Yarmouth’s Gold Mile. Currently let to reliable tenants producing c. £9,000pa (income from day one), the property offers immediate cashflow and a strong gross yield for its price point. The layout is traditional with an open-plan lounge/diner, a modern kitchen and bathroom, and two bedrooms within 528 sq ft — a practical rental for couples or small families.
The house is freehold and benefits from a small garden, double glazing (install date unknown) and mains gas central heating via boiler and radiators. There is no flood risk and council tax is very cheap, helping running costs remain low. The building is a solid-brick Victorian terrace; walls are assumed uninsulated which may mean future EPC or insulation work.
Buyers should note material negatives plainly: the property is small and requires some maintenance to its period fabric and external areas (ivy on façade noted). It sits in a very deprived neighbourhood with very high crime levels and a 'constrained renters' local classification — factors that affect tenant profiles and long-term capital growth. This is best suited to investors seeking immediate rental return rather than those prioritising space or a quiet residential setting.
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