Summary - 42 BROADMEADOWS WASHINGTON NE38 8RH
2 bed 1 bath Terraced
Two-bed terraced with tenant in situ and clear refurbishment upside.
Immediate income: £6,000 gross per year
A compact 2-bedroom terraced property in Broadmeadows, Washington, offered with long-term tenants in place. The current annual gross income is £6,000 (c. £500 pcm), providing an immediate income stream and making this a straightforward addition to an investor portfolio. Tenants have remained for several years and intend to stay.
The home is leasehold, set over multiple levels with a lower-ground/basement element that brings reduced ceiling height and limited front natural light. External finishes are serviceable but dated; the property would benefit from cosmetic updating and some modernization to maximise rental value.
Practical pros include on-street parking, a shared rear garden, fast broadband and excellent mobile signal, plus proximity to local amenities and schools. Notable considerations: higher-than-average local crime, potential light/damp issues associated with basement-level accommodation, and the leasehold tenure — all important for valuation and budgeting refurbishment works.
For investors seeking yield rather than a long-term owner-occupier purchase, this property offers immediate cashflow and clear upside from modest refurbishment or rent review. Buyers should factor refurbishment costs, leasehold obligations and minor risk items into their purchase appraisal.
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