Summary - 98 CLARENDON ROAD SOUTHSEA PO4 0SD
1 bed 1 bath Commercial Property
Three-let building with immediate income and c.8.1% gross return.
Freehold building with three self-contained flats, all currently let
A freehold mixed-residential block arranged as two 2-bedroom flats and one 1-bedroom flat, all let and producing a gross annual income of £32,430 (c. 8.11% gross yield at £400,000). The building is a three-storey Victorian terrace with high ceilings at upper levels and a lower-ground converted basement with low headroom. Flats 1 and 2 share a small external patio; utilities are split with a separate landlord supply. Tenants currently pay all bills.
This is a straightforward portfolio bolt-on for an investor seeking immediate rental income in central Southsea. The location benefits from excellent local amenities, strong transport links and proximity to the seafront, shops and schools attractive to mixed tenants including students and families.
Buyers should note material drawbacks: the property lies in a high flood-risk area and the neighbourhood records above-average crime levels. The plot is small and the basement has low ceilings, which limits potential for conversion without significant work. Overall the building offers immediate cashflow with clear scope for value uplift through targeted refurbishment and management.
Suitable for a hands-on landlord or investor prepared to manage flood risk mitigation and local letting challenges. All flats are on one title, simplifying transaction and future reconfiguration possibilities.
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