Summary - 58, Alexandrea Way NE28 9JX
2 bed 1 bath Ground Flat
Chain-free investment flat with up to 10% yield potential and parking.
Two bedrooms, 571 sq ft ground-floor flat
A compact two-bedroom ground-floor flat in Alexandrea Way offering clear buy-to-let potential and immediate occupation. The apartment sits in a modern block (built 2003–06) with secure communal entry, an allocated off-street parking space and a small private garden. Neutral decor, double glazing and a large living area make it straightforward to let or move into.
This property is aimed at investors seeking yield: advertised potential rental return up to 10% and low running costs (very cheap council tax, service charge £120pa, ground rent £10pa). The long lease (105 years remaining) reduces near-term leasehold risk and the sale is chain-free, simplifying completion.
Material considerations: the flat is electric-heated via storage heaters, which can be more expensive and less desirable for some tenants. The local area is classified as deprived with above-average crime statistics — factors that may affect tenant profiles and rental values. The property will be sold via online auction (fees apply), which requires buyers to factor in auction timelines and additional costs.
Overall, this is a straightforward, low-maintenance apartment for a buyer targeting rental income or a low-cost entry onto the market. It needs little immediate refurbishment but location-related risks and heating type should guide purchase decisions.
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