Summary - 12 12 Seago Street, Lowestoft, Suffolk NR32 2DS
3 bed 3 bath Block of Apartments
Turnkey three‑unit terrace with immediate rental income and communal courtyard.
- Three long‑term lets producing £18,840 per year
- Freehold multi‑unit block, total approx. 1,277 sq ft
- Communal courtyard and utility room with separate meters
- Newly renovated: internal insulation, new carpets, neutral decor
- Upgraded energy‑efficient radiators in Flats 1 and 2
- No off‑street parking; small forecourt only
- Located in a very deprived area with very high crime
- Suited for investors; viewings advised for qualified buyers
This freehold block on Seago Street offers an immediate income stream: three long‑term lets producing £18,840 per annum. Flats 1 and 2 sit in the main Victorian terrace and the converted Stables overlooks a communal courtyard. Recent work includes internal wall insulation, new carpets in Flats 1 and 2, neutral redecoration and upgraded energy‑efficient radiators.
The layout is practical for continued rental use. Each flat is self-contained with a lounge, fitted kitchen and separate bathroom/WC; the Stables provides ground‑floor kitchen access with a first‑floor bedroom and en‑suite. A communal utility room with separate meters, sink, washing machine and tumble dryer supports letting management and reduces tenant disruption.
Investment strengths are the established rental income, freehold title and largely newly renovated condition, which reduce immediate capital expenditure. The property footprint is compact urban terraced style with no off‑street parking and modest external space, suiting town‑centre tenants and local rental demand.
Buyers should weigh material location factors: the area is very deprived with very high local crime levels and an urban outlook. These socio‑economic characteristics affect yield, re‑letting risk and tenant profiles. This opportunity is aimed at investment buyers who accept those local market realities and value an income‑producing, low‑maintenance portfolio addition.
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