1 bed Flat For Sale, St. Michaels Street, Kent, Folkestone CT20

Description

Property Reference number : 464721

investment property being sold with tenant in situ, this Ground Floor 1 bed flat (31 square metres) plus balcony has had the same tenant since 2007, recent gas central heating installed and 20-year damp Guarantee. The flat at £89k gives over 6% return and could achieve more.

I have owned this flat since 2010 and now wish to retire, the flat is a good investment with the current rent of £450 pcm which has not increased since 2016 and now could achieve more. The rent is paid directly to the Landlord which gives the new Landlord the security of having the rent paid each month.

Should the existing tenant vacate the flat it would benefit from redecoration which would increase the rental return.

The flat will be sold with a new 125 year lease on completion of the sale and the freehold can be purchased separately if required.

Living Room/Kitchen: 16ft 5ins x 11ft 8ins (5.00m x 3 .56m)
Bedroom: 10ft 2ins x 8ft 8ins (3.10m x 2.64m)
Balcony: 15ft 6ins x 6ft 3ins (4.72m x 1.90m)

Council Tax: A

Current Annual Ground Rent: £75.00

Current Annual Service Charge: £165.00

Current Length Of Lease Remaining: 125 Years

Warning: Never transfer funds to a property owner before viewing the property in person. If in doubt contact the marketing agent or the Citizens Advice Bureau.

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Viewing Disclaimer: Cocoon endeavour to ensure the sales particulars of properties advertised are fair, accurate and reliable, however they are not exhaustive and viewing in person is highly recommended. If there is any point which is of particular importance to you, please contact Cocoon and we will be pleased to check the position for you, especially if you are contemplating traveling some distance to view the property.

Property Reference number : 464721

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1 bed Flat For Sale £89,000 St. Michaels Street, Kent, Folkestone CT20

1 bed Flat For Sale £89,000
St. Michaels Street, Kent, Folkestone CT20