Summary - 226 SPRING BANK HULL HU3 1LU
5 bed 5 bath Block of Apartments
Ready‑income freehold with period character and private off‑street parking.
Five fully tenanted one‑bed flats producing £28,200 gross annual income
A compact freehold block on Spring Bank, offered as five one‑bed flats, presents an immediate income stream for a hands‑on investor. All units are currently let and the stated gross annual income of £28,200 yields about 8.7% at the asking price, giving clear cashflow from day one.
The building retains Victorian character externally — high ceilings, bay windows and period detailing — while interiors are described as updated and let in good condition. A private off‑street car park at the rear is a practical bonus for tenants and can aid lettability in the local market.
Buyers should balance the strong yield against the location’s challenges. The area is classified as very deprived with a very high local crime rate; these factors can affect voids, management costs and long‑term capital growth. Information supplied should be independently verified before purchase.
For an investor focused on income, this block is ready to slot into a portfolio with minimal immediate works. There may be scope to review rents, reduce lettings voids and realise additional value through active management, but plan for higher operating and management involvement given local market conditions.
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