House For Sale £3,000,000
The Good Estate Agent Is Proud To Offer The Oppoutunity To Purchase A Block Of Apartments Situated On Newtown Road In Hereford!
This is a fantastic opportunity for a property investor to add a new range of properties to their portfolio. The property is situated on Newtown Road, Hereford. Within walking distance to the city centre with a variety of shops, bars, restaurants and cinema. The property is also within walking distance to the range of colleges that the city has to offer which would make for great student accommodation.
The property has an extensive plot of land behind the building which could also offer further development opportunity with the right planning permission. There is a property at the end of the road that has done something similar adding extra value to the property! There is also an additional plot of land over the road which could be turned into a car park for the apartments increasing the yield potential. There may also be chance with the right planning permission to use this as a potential development plot.
Currently this investment opportunity is generating a combined income of £108,000 per annum, and has the scope to increase the individual rents further due to them remaining static for some years.
The current configuration is 15 individual apartments, of which some are on one level and others are split over three floors! There is also a HMO which contains 5 rentable rooms of which 4 are already occupied. All of the apartments are currently occupied and can be sold with the tenants in situ!
Floorplans & remote viewings are available on request
open agent
This is a fantastic opportunity for a property investor to add a new range of properties to their portfolio. The property is situated on Newtown Road, Hereford. Within walking distance to the city centre with a variety of shops, bars, restaurants and cinema. The property is also within walking distance to the range of colleges that the city has to offer which would make for great student accommodation.
The property has an extensive plot of land behind the building which could also offer further development opportunity with the right planning permission. There is a property at the end of the road that has done something similar adding extra value to the property! There is also an additional plot of land over the road which could be turned into a car park for the apartments increasing the yield potential. There may also be chance with the right planning permission to use this as a potential development plot.
Currently this investment opportunity is generating a combined income of £108,000 per annum, and has the scope to increase the individual rents further due to them remaining static for some years.
The current configuration is 15 individual apartments, of which some are on one level and others are split over three floors! There is also a HMO which contains 5 rentable rooms of which 4 are already occupied. All of the apartments are currently occupied and can be sold with the tenants in situ!
Floorplans & remote viewings are available on request
open agent
