Summary - 47 LAUREL CLOSE LINCOLN LN5 8RJ
1 bed 1 bath Flat
Low-maintenance one-bed flat, tenant in situ and ready for continued rental income..
Tenant in situ, currently let at £645pcm
Compact 387 sqft one-bedroom flat, suited to single occupant
Leasehold tenure — buyer to verify lease length and terms
Low council tax; service charge £233pcm, ground rent £20pa
Older double glazing (pre-2002) and building from 1967–1975
Low-maintenance garden and integrated kitchen appliances
Very deprived area with high crime — affects rental profile/value
Excellent mobile signal and fast broadband speeds
Set on the first floor of a secure mid-terrace block, this one-bedroom flat suits investors seeking an immediately lettable asset. The open-plan living/kitchen is fitted with integrated appliances and offers practical, low-maintenance living. A good-sized double bedroom with built-in wardrobes and a three-piece bathroom complete the internal accommodation.
Currently let at £645pcm with a tenant in situ, the property provides an income stream from day one. Running costs are modest: low council tax, a below-average service charge (£233pcm) and a small ground rent (£20pa). Broadband and mobile signal are both strong, helping rental appeal to working tenants.
There are clear location and market cautions to note. The wider area is classified as very deprived with high local crime; this can affect future capital growth and tenant profiles. The flat is small (387 sqft) and sold leasehold, so buyers should check lease length and terms. Double glazing is older (installed before 2002) and the building dates from the late 1960s/early 1970s, so some longer-term maintenance or upgrades may be needed.
For investors, the combination of immediate rental income, low running costs and decent connectivity makes this a straightforward buy-to-let entry. For first-time buyers, the size, leasehold status and local area challenges warrant careful consideration before committing.
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