Summary - 50 GRASMERE ROAD BLACKPOOL FY1 5PQ
1 bed 1 bath Not Specified
Five tenanted flats in central Blackpool; strong income and refurbishment potential..
Five self-contained flats producing £20,531.88 gross annually
This mid-terraced Victorian property is offered as a five self-contained flat investment in central Blackpool. It currently produces a gross income of £20,531.88 per year and is fully tenanted under the same management company. The building includes a garage and is close to the town centre, entertainments and local amenities.
The property is sold at auction and will be offered as-is; it has not been inspected. External images and descriptions indicate visible exterior wear, signs of damp, an uneven/derelict roof section and generally dated fixtures throughout. The flats will likely need modernization and ongoing maintenance work, which creates scope to increase value and rent after refurbishment.
Location factors are mixed: excellent mobile signal and fast broadband support lettings, but the area is very deprived with high crime and a transitional Eastern European neighbourhood profile. Tenure is unknown; buyers should verify title, tenancy details and service arrangements before bidding. Flood risk is reported as none.
This lot suits an investor or portfolio buyer who wants immediate income with value-add potential. Expect management responsibilities, possible repair costs (roof, damp, windows) and auction purchase conditions; budget for legal and refurbishment costs on top of the purchase price.
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