Summary - 89 VICTORIA ROAD MABLETHORPE LN12 2AF
5 bed 3 bath Block of Apartments
**Standout Features:**
- Multi-unit portfolio: 2 residential flats and 2 commercial units
- Long-term tenants in place, generating reliable rental income
- Current annual gross income: £26,400, with potential increase to £34,800
- Freehold tenure with off-street parking available
- Modern kitchen in apartments with Victorian-era charm in the exterior
**Notable Concerns:**
- Property requires updating and modernization
- High crime rate in the area
- Located in a deprived area, which may affect future values
This multi-unit property in Mablethorpe offers an exceptional buy-to-let opportunity for serious investors and developers seeking to expand their portfolio. Featuring a mix of two apartment flats (one 2-bedroom and one 3-bedroom) alongside two commercial units—a storage facility and a charity-operated space—this well-located block is currently generating a steady annual income of £26,400. Potential to enhance returns exists, with a market rate forecasted income of £34,800.
While the property retains appealing Victorian-era architectural details, it will require updates to fully tap into its income potential. Its off-street parking, excellent mobile and broadband connections, and proximity to essential amenities make it a worthwhile consideration for anyone looking to invest in a cash-generating property. With the high demand in the rental market and current tenant occupancy, this opportunity won’t last long. Envision the future potential in this investment today!
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