Summary - 47 COOPERATIVE TERRACE WASHINGTON NE37 2AY
2 bed 1 bath Flat
Income-producing Victorian flat ideal for buy-to-let portfolios.
- Immediate gross income £6,000 pa (approx. £500 pcm)
- Leasehold with c.91 years remaining
- Long-term tenant in situ and not planning to leave
- Listed price £60,000 — strong entry price for investors
- Shared front garden; no private rear garden noted
- On-street parking only, no off-street provision
- Located in very deprived area with high local crime rates
- Internal condition unverified; likely modernisation required
This two-bedroom leasehold flat on Cooperative Terrace is offered primarily as a buy-to-let opportunity producing immediate rental income. The property is currently let to long-term tenants and generates £6,000 gross per year (approx. £500 pcm), making it attractive for investors seeking steady cashflow at the listed price of £60,000. A Let Property Pack is available with detailed investment figures and tenancy documentation.
The building is a traditional Victorian terrace with modest room sizes and period features visible externally. Accommodation totals roughly 667 sq ft and includes a reception room, two bedrooms, one bathroom, and access to a shared front garden. On-street parking only; no off-street parking provision.
Important considerations: the tenure is leasehold with about 91 years remaining, and a buyer’s premium will apply to secure purchase. The property sits in an area with high crime statistics and very high deprivation scores, which will influence tenant demand and resale prospects. Internal inspection recommended to confirm condition and any modernisation needs.
This opportunity suits investors or developers looking for an income-producing purchase with short-term yield and scope for rent or value improvement after assessment. The current tenant does not intend to vacate, so buyers should be comfortable acquiring with an existing tenancy in place.
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