Summary - Flat 1, 19 Dudley Street, GRIMSBY DN31 2AW
4 bed 3 bath Apartment
Auction renovation block with strong yield potential, sold via secure online sale..
Freehold Victorian semi converted into three flats (2x1-bed, 1x2-bed)
This freehold Victorian semi converted into three flats (2 x one-bed, 1 x two-bed) offers clear investor potential. Current marketing states a possible combined annual income of about £20,400, with off-street parking and a small yard. The block was built circa 2007–2011 (conversion date unclear) and has electric heating.
The building is described in poor to fair condition and will require comprehensive refurbishment and modernisation — likely roof, services, windows and internal finishes. EPC rating is G, so energy-efficiency works are required. The property sits in a very deprived area with high local crime rates, which will affect tenant demand and rental levels; careful lettings strategy and security improvements are advised.
Sale will be by online auction via a secure-sale process with a starting bid of £70,000 and immediate exchange of contracts available. This is a renovation/refurbishment opportunity for cash buyers or landlords prepared to fund works — obtain a full structural and services survey and a realistic repair/cost schedule before bidding.
Advantages include freehold tenure, separate flats already in place, off-street parking and a realistic uplift after renovation. Drawbacks are the current condition, low EPC, higher area crime and deprivation, and likely need for substantial capital investment to achieve advertised yields.
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