Blackpool - Income Producing Block of 8 Apartments in Blackpool - Click for more info

Blackpool, Lancashire
£195,000.00

Property Investors App

Posting for 2+ years

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propertyinvestorapp.co.uk

Property Investors App

Posting for 2+ years

See all ads

Contact Property Investors App


propertyinvestorapp.co.uk
Posted
1 day ago
Seller type
Agency
Property type
Flat
Number of bedrooms
8

Description

If you want to see more deals like this, then please visit the Property Investor website or download the 'Property Investor' app by visiting:

Apple Devices : Search for Property Investor in iOS app store
Android Devices : Search for Property Investor in Googleplay app store

If you are an agent/sourcer and have properties you would like to sell on the Property Investor app work with us get in touch by calling : 01902 773940

19% Below Market Value

Income Producing Block of 8 Apartments in Blackpool

Egerton Road, Blackpool, FY1 2NP

Purchase Price = £195,000

Market Value = circa £230,000

Finder’s Fee = £5,000 + Vat

Potential Gross Income (Full Occupancy) = £2,902 pcm = £34,824 per annum

CASHFLOW AFTER ALL THE ABOVE COSTS

Managed = £1,566 pcm = £18,792 per annum

Self Managed = £1,914 pcm = £22,968 per annum

For a limited time only, we have managed to secure an income producing block of 8 apartments in within proximity to Blackpool City Centre.

The property originally has planning permission for holiday use, however it has been continually used as residential apartments for the past 10 years, with proof of continuous AST's and statutory declaration from the previous owner and managing agent which is the requirement for lawful use.

The property is made up of 8 apartments, 6 of which are let currently and 1 that is ready to let now. The last flat is not in a lettable condition and requires renovation.

Given the location, they could also be used for serviced apartments.

The flats are currently let within the private rental sector. Due to the demographic of Blackpool, there is always likely to be a reasonable demand for this type of accommodation. There is an extremely low rate of owner - occupation in Blackpool which results in demand for rental accommodation

None of the apartments are in brand new condition and it would be recommended that the best way to proceed is only to renovate as apartments become available.

The property is in north shore area of Blackpool with side sea views within easy access to the town centre and Blackpool North train station with direct route into London and on the doorstep of all of the attractions.

If you want to see more deals like this, then please visit the Property Investor website or download the 'Property Investor' app by visiting:

Apple Devices : Search for Property Investor in iOS app store
Android Devices : Search for Property Investor in Googleplay app store

If you are an agent/sourcer and have properties you would like to sell on the Property Investor app work with us get in touch by calling : 01902 773940

Ad ID: 1408767505


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