Summary -
Flat 1,31 Clarendon Road,MORECAMBE,LA4 4HR
LA4 4HR
5 bed 3 bath Terraced
Three self-contained flats with immediate income — high yield, needs refurbishment.
Freehold Victorian mid-terrace split into three self-contained apartments
A substantial Victorian mid-terrace offered as a freehold investment, split into three self-contained apartments and currently producing £17,400 per year (11.6% gross yield at the asking price). Two of the flats are two-bed units and one is a one-bed; all are fully tenanted, providing immediate rental income with an established occupancy. The building retains period bay windows and fireplaces that add character and rental appeal in this part of Morecambe.
The property sits in a popular residential street but is in a very deprived area with a very high local crime rate; these local conditions affect long-term capital growth and tenant profiles. Internally many rooms show dated finishes and there are signs of damp/mould in parts of the living room, so a buyer should allow for refurbishment and ongoing maintenance costs. The plot is small with limited outdoor space and cellar access only.
This is a clear buy-to-let opportunity for an investor seeking immediate cashflow and scope to increase value through targeted refurbishment or reconfiguration. The freehold title and multi-flat layout give flexibility — keep as three tenanted units for steady income or refurbish and let at higher rents if the local market supports it. Buyers should budget for refurbishment, potential compliance upgrades, and factor in the neighbourhood challenges when assessing long-term returns.
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