Summary - 25, Mitchell Street, South Moor DH9 7BE
3 bed 1 bath Not Specified
High-yield pair of tenanted flats with immediate income and refurbishment potential.
- Two self-contained flats, both currently tenanted
- Potential rent £825 pcm (approx £9,900 pa)
- Long lease: 984 years remaining
- Rear yard for each flat
- Mains gas central heating, double glazing (pre-2002)
- Small overall size; limited internal space
- Built before 1900; solid brick, likely no insulation
- Area: very deprived with high crime; auction sale fees apply
A compact two-flat investment on a long lease in South Moor, offered with both flats currently tenanted and producing immediate income. At a guide price of £80,000 and potential rent of £825 pcm, the property presents a high gross yield opportunity for investors prepared to manage a small-scale urban asset.
The building is a late-Victorian end-terrace of solid brick construction with mains gas central heating and double glazing installed before 2002. Each flat has its own rear yard, and accommodation is arranged over ground and first floors. The long lease (984 years remaining) removes short-lease uncertainty, but the property is leasehold and will be sold via online auction with fees payable.
Buyers should note clear drawbacks: the area is very deprived with high crime levels, and the property is small with limited internal space. Walls are assumed uninsulated and some updating is likely (kitchens and glazing pre-date modern standards). Auction sale and associated fees, plus management of existing tenancies, are additional practical considerations.
For an investor seeking an entry-level, high-yield block with immediate rental income and scope for modest refurbishment, this pair of flats offers potential — provided the buyer accepts the local socioeconomic challenges and plans for basic improvement and ongoing management.
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