Summary - Flat 3, 158 Grimsby Road DN35 7DL
1 bed 1 bath Block of Apartments
**Standout Features:**
- Freehold property comprising a commercial retail unit and three residential flats.
- Current income of £13,900 per year with a gross yield of 7.12%.
- Strategic location on Grimsby Road (A180), close to Grimsby Town Football Stadium and excellent transport links.
- Potential for converting a vacant flat back to residential use.
**Concise Summary:**
This investment opportunity features a prominent mixed-use property on Grimsby Road, consisting of a ground floor retail unit and three one-bedroom flats. Currently generating an income of £13,900 per annum, this property offers a compelling 7.12% gross yield, making it a secure long-term investment. The retail space includes essential amenities and is leased for three years, while two of the residential flats are tenanted, providing stable cash flow.
While the property boasts a rich Edwardian design with high ceilings and large windows, note that one flat is vacant and undergoing planning to convert back to residential, a process that may involve further scrutiny from mortgage lenders due to the remaining lease terms. The building, dating from 1930-1949, features double glazing but lacks insulation, presenting potential renovation opportunities for future owners.
Located near schools with good ratings and various amenities, including transport and leisure facilities, the property is ideally positioned for both residential and commercial viability. Whether you're an investor seeking rental income or a buyer looking to expand your portfolio, this property warrants prompt consideration. Don't miss out on this unique chance to own a versatile asset in a challenging yet promising community.
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