Summary - Flat 23 North Crescent, 55, North Street LS2 8JS
2 bed 1 bath Apartment
Compact investment with parking and balcony near Leeds attractions.
2 double bedrooms and balcony; 571 sq ft small footprint
Currently let at £1,225pcm — investor-ready income stream
Allocated off-street parking included
241 years remaining on lease (long lease term)
Service charge approx. £1,888.94pa; ground rent £380pa
Cash buyers only at present due to cladding/finance position
Electric room heaters (no communal gas/hot water system)
Inner-city student area with high recorded crime levels
This two-bedroom, second-floor apartment in North Crescent sits in the heart of Leeds city centre, currently let for £1,225pcm. The property offers a small but practical 571 sq ft layout, a balcony off the living room, and an allocated parking space — features that appeal strongly to city-based tenants and investors seeking low-management rentals.
The building is modern (built 2003–2006) with triple glazing and landscaped communal gardens. The long lease (241 years remaining) provides ownership security. Service charges are significant — £944.47 per half year (approx. £1,888.94pa) — and ground rent is £380 (next review 2034); these running costs should be factored into returns.
Important considerations: the sale is currently available to cash buyers only due to cladding information; interested parties should confirm the latest cladding/finance position. Heating is by electric room heaters rather than a communal system, and the neighbourhood is an inner-city, multicultural student area with high recorded crime levels and local area deprivation — factors that affect resale and tenant profiles.
For investors, the current rent produces an approximate gross yield of 10.5% based on the asking price of £140,000 (rent £1,225pcm). For owner-occupiers or long-term landlords, this apartment offers city-centre convenience, strong transport and amenity access, and low-maintenance communal grounds, but expect higher service charges and to manage the urban location’s challenges.
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