House For Sale £199,000
For sale by auction on Wednesday, 08 Dec 2021 at 12:00
Venue: Online online,
Part let Three Storey Mid Terraced House Divided into 5 flats in Central Location Requiring Refurbishment
A substantial three storey bay fronted terraced house converted in to 5 flats comprising of 2 x studio flats to the ground floor, 1 x 1 bedroom flat and 1 x studio to the first floor with a 1 bedroom flat to the second floor. All the flats have independent supplies and require upgrading; however, the property provides the purchaser an opportunity of placing their own stamp on the current accommodation, remodelling of the current flat layouts and a split of the title into independent units or alternatively conversion of the entire property to a substantial HMO. Serviced accommodation could also be a potential use given its central location.
In our opinion the building offers a superb development/investment opportunity. We ae advised that three flats out of the five are let which we are informed currently generates a combined income of £15,900 per annum, with scope for betterment by way of letting the two further apartments. We are also informed that flats 3 & 4 are let by way of a periodic tenancy with no tenancy agreements available.
The property is located in the Riverside area of Cardiff and therefore is a short walk to the City Centre, close to the property are local shops, parks, schools and other amenities.
Accommodation and Tenancies
Ground Floor: Communal hallway.
Flat 1: Lounge/bedroom, kitchen, bathroom. Currently Vacant.
Flat 2: Lounge/bedroom, kitchen, bathroom. We are advised that the unit is currently let on an AST at £425 per calendar month.
First Floor: Landing.
Flat 3: Lounge, bedroom, kitchen, bathroom. We are advised that the unit is currently let by way of a periodic tenancy at £450 per calendar month.
Flat 4: Lounge/bedroom, kitchen, bathroom. We are advised that the unit is currently let by way of a periodic tenancy at £450 per calendar month.
Second Floor:
Flat 5: Hall, lounge, bedroom, kitchen, bathroom. Currently Vacant.
Outside
Forecourt, garden to the rear. Garage not included.
Viewing Schedule
Via the auctioneer. Please call us on to book an appointment.
Additional Fees
Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
Venue: Online online,
Part let Three Storey Mid Terraced House Divided into 5 flats in Central Location Requiring Refurbishment
A substantial three storey bay fronted terraced house converted in to 5 flats comprising of 2 x studio flats to the ground floor, 1 x 1 bedroom flat and 1 x studio to the first floor with a 1 bedroom flat to the second floor. All the flats have independent supplies and require upgrading; however, the property provides the purchaser an opportunity of placing their own stamp on the current accommodation, remodelling of the current flat layouts and a split of the title into independent units or alternatively conversion of the entire property to a substantial HMO. Serviced accommodation could also be a potential use given its central location.
In our opinion the building offers a superb development/investment opportunity. We ae advised that three flats out of the five are let which we are informed currently generates a combined income of £15,900 per annum, with scope for betterment by way of letting the two further apartments. We are also informed that flats 3 & 4 are let by way of a periodic tenancy with no tenancy agreements available.
The property is located in the Riverside area of Cardiff and therefore is a short walk to the City Centre, close to the property are local shops, parks, schools and other amenities.
Accommodation and Tenancies
Ground Floor: Communal hallway.
Flat 1: Lounge/bedroom, kitchen, bathroom. Currently Vacant.
Flat 2: Lounge/bedroom, kitchen, bathroom. We are advised that the unit is currently let on an AST at £425 per calendar month.
First Floor: Landing.
Flat 3: Lounge, bedroom, kitchen, bathroom. We are advised that the unit is currently let by way of a periodic tenancy at £450 per calendar month.
Flat 4: Lounge/bedroom, kitchen, bathroom. We are advised that the unit is currently let by way of a periodic tenancy at £450 per calendar month.
Second Floor:
Flat 5: Hall, lounge, bedroom, kitchen, bathroom. Currently Vacant.
Outside
Forecourt, garden to the rear. Garage not included.
Viewing Schedule
Via the auctioneer. Please call us on to book an appointment.
Additional Fees
Administration Charge - 1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Price Information
* Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. This includes and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
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