Summary - Flat 3, 7 Princes Avenue DN31 2AA
1 bed 1 bath Apartment
Freehold Victorian terrace with three let flats, immediate income and rental upside for hands-on investors..
Three self-contained flats with tenants in situ and current passing rent £12,960pa
Freehold investment with separate entrances and independent electric heating
Approximate current yield 8.82% at the asking price; rent increase possible
Victorian character: bay windows, high ceilings, some original features
Solid brick walls; likely no cavity insulation — retrofit costs probable
Electric storage heaters; higher running costs and energy-efficiency concerns
Area classified very deprived with high crime; affects tenant profile and lettings
Some flats need modernization; straightforward landlord transfer with certifications
This traditional Victorian mid-terrace has been converted into three self-contained flats, offered as a single freehold investment with tenants in situ. The building retains period character—bay windows, high ceilings and wood flooring in parts—while providing separate access, double glazing and independent electric heating for each flat. Current passing rent is £12,960pa, giving an approximate yield of 8.82% at the asking price. There is scope to increase rents, improving returns for an active landlord.
Practical positives include off-street parking to the front, a usable rear garden and a compact modern-style kitchen in at least one flat. The property is let on assured shorthold tenancies with required certification in place, which should make transfer straightforward for experienced landlords. Council tax is described as very cheap and local connectivity is strong with excellent mobile signal and fast broadband—helpful for tenant demand.
Material drawbacks are clear and should be factored into budgeting. The area is classified as very deprived with high local crime levels, which will affect tenant profiles and potential rent growth. Heating relies on electric storage heaters and the walls are solid brick with assumed no insulation, so energy costs and retrofit expenditure are likely. Some flats and communal areas require modernization and internal updating to maximise rental value.
This is a pragmatic purchase for a portfolio investor comfortable with inner-town, higher-risk locations who can manage minor to moderate refurbishment and lettings compliance. The property offers immediate income with upside from rent increases or targeted improvement works, but plan for energy-efficiency upgrades, cosmetic refurbishment and ongoing management in a challenging local market.
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