Summary - 36 - 38 WESTMORLAND AVENUE BLACKPOOL FY1 5PG
10 bed 1 bath Block of Apartments
Freehold ten-flat block in central Blackpool delivering immediate income and c.12% gross yield.
Ten self-contained flats arranged in a double-fronted Edwardian terrace
A substantial double-fronted Edwardian terrace arranged as ten self-contained flats, offered freehold with current annual income circa £51,740 and an advertised gross yield of just over 12%. The block comes with up-to-date electrical test certificates and a gas safety certificate, reducing immediate compliance work. Situated in central Blackpool, it lies about 0.2 miles from local shops and 0.5 miles from the Promenade, making it attractive to short-term or long-term renters.
This is an investor-focused opportunity aimed at those seeking immediate rental income. Flats are described as generally well presented with modern kitchens and contemporary living areas in places, but the building sits in a very deprived area with high crime levels and a local population profile of constrained renters. These factors can affect void periods, tenant turnover and insurance or management costs.
Notable shortcomings are material: the property currently provides ten bedrooms but only one bathroom across the block, which will limit tenant mix and may require investment to upgrade facilities. Expect ongoing management needs in a multi-tenanted block in this location and potential refurbishment or reconfiguration costs if you plan to increase rent levels or improve tenant quality. The position near local amenities, schools and multiple transport and community facilities supports lettability but demands experienced landlord oversight.
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