1 Bedroom Not Specified for sale in Grimsby
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A freehold residential investment opportunity comprising three self-contained flats, all held on one title and offered for sale as a single lot. The property is arranged as two ground floor one-bedroom flats and a larger first floor two-bedroom flat, positioned on Weelsby Street, Grimsby, within a well-established residential location with consistent rental demand. 244 Weelsby Street is a ground floor one-bedroom flat accessed from the front and comprises an entrance hall, living room, modern fitted kitchen with smart units, rear lobby and bathroom fitted with a white suite. The flat benefits from a rear yard. 246 Weelsby Street is a ground floor one-bedroom flat accessed from the rear. Accommodation includes an entrance hall, smart shower room, fitted kitchen, living room and bedroom, together with a small rear yard. 246A Weelsby Street is a first floor flat extending over both ground floor units, resulting in larger overall accommodation. The property is accessed via a private ground floor entrance with staircase rising to the first floor and comprises a landing, shower room, dining room, living room, kitchen (dated but serviceable) and two bedrooms. All three flats benefit from gas central heating systems and UPVC double glazing. The flats are currently vacant, allowing a purchaser to set rents immediately and select tenants from completion. Based on current market evidence, the anticipated rental values are: 246A Weelsby Street: IRO £400 pcm 244 Weelsby Street: IRO £365 pcm 246 Weelsby Street: IRO £365 pcm This equates to a combined gross rental income of approximately £1,130 per calendar month, or £13,560 per annum. At an asking price of £85,000 for the freehold interest, the investment offers an attractive projected gross yield of approximately 15.95%, with scope for further upside through light improvement and active management.
Important Information
- This is a Freehold property.
- EPC Rating is D
Property Ref: a2b2b5ab-82ae-4ae2-a736-3c43f6b4acd8
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