Summary - 6 PARK STREET GRIMSBY DN32 7QU
1 bed 1 bath Block of Apartments
Immediate income with strong headline yield for a hands-on investor.
4 x one-bedroom flats producing £15,480 pa combined rent
A compact investment block in central Grimsby offered with immediate exchange and secure online bidding. Four self-contained one-bedroom flats produce a combined passing rent of £15,480, giving about an 11% yield at the current asking/starting price. All flats are currently tenanted with staggered tenancy start dates, providing immediate income.
The building is a Victorian mid-terrace of solid brick construction with uPVC double glazing and off-street parking. Heating is by electric room heaters (no central heating) and the walls are assumed uninsulated, so energy costs and tenant comfort are considerations. Accommodation is functional but dated and will benefit from modernization to improve rents and reduce void risk.
Location factors affect risk and return: the property sits in a very deprived, high-crime area in a transitional neighbourhood with strong rental demand from constrained renters. Flood risk is very low and local amenities and several schools are nearby. This is a hands-on opportunity for an investor comfortable with refurbishing, active management and ongoing tenant turnover, offered via auction/secure sale with terms applying.
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