Summary - Flat 1, 84 Tonning Street NR32 2AL
5 bed 3 bath Terraced
Compact, income-generating Victorian terrace with immediate rental yield..
Three self-contained flats: two 2-bed, one 1-bed
A bay-fronted Victorian mid-terrace converted into three self-contained flats, currently fully let and producing immediate rental income. Each unit has gas central heating and UPVC double glazing; Flat 1 includes a private rear courtyard with gated access. The block is compact (approx. 485 sq ft total) and sits close to Lowestoft town centre with easy access to shops, schools and public transport.
This is a clear income-focused opportunity for an investor seeking an entry-level multi-let with scope to increase value through refurbishment. The property’s solid brick construction and period features give character, while the layout of two 2-bed flats and one 1-bed flat suits mixed-tenancy portfolios.
Notable risks are material and must be considered: the wider area shows very high crime levels and pronounced deprivation, and the building likely has solid walls with no cavity insulation. Internal rooms are generally small and the overall plot is limited; some cosmetic and possible structural/thermal improvements are likely to unlock higher rents. All flats are tenanted—viewing access will require notice.
Financially this offers immediate yield but also practical management needs: tenant turnover, maintenance on an older Victorian terrace, and potential investment to improve energy performance. The freehold sale is suited to a buy-to-let investor comfortable working in a challenging rental area and able to manage refurbishment and active tenancy management.
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