2 bed Flat For Sale £90,000
A house which has been split into two rental flats. Ideal investment opportunity.
9% yield.
13 = ground floor = Accommodation comprising; entrance area, utility, bathroom, kitchen-diner, lounge, bedroom and yard. This is currently rented @ £360 pcm and the tenant has been there over 4 years.
13A = first floor = Accommodation comprising; entrance area, lounge, kitchen, bedroom and bathroom.
This is currently rented @ £465 pcm and the tenant moved in, in 2022.
Total rental income is £825 which is a yield of 9.0 - 9.9%.
Auctioneer Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the
Auctioneer, iamsold Limited
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers
solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria,
affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price
including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as
part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification
verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything
you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation
Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the
preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they
will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral
arrangement and payment prior to any services being taken by you.
Ground Floor = 13 Newcastle Street
Entrance Area
1.42m x 3 - Double glazed door to the side, Access to kitchen-diner and utility.
Utility Room (2.72m x 1.27m)
Double glazed window to the side, single radiator, wall mounted Baxi boiler, space for washing machine and tumble dryer, base units, roll edge work surface. Door to bathroom.
Bathroom (3.33m x 1.22m)
White three piece suite comprising: Low level WC, pedestal wash hand basin, shower in cubicle, single radiator and double glazed window to the side.
Kitchen-Diner (3.53m x 3.5m)
Range of base and wall mounted units, roll edged work surfaces, one and a quarter bowl stainless steel sink and drainer with mixer tap. Integrated oven, hob and extractor fan. Gas metre. Space for fridge-freezer, double glazed windows to the side and rear. Coving to ceiling, single radiator and door to lounge.
Lounge (3.66m x 3.58m)
Double glazed window to the side, single radiator, coving to ceiling and door to bedroom.
Bedroom (3.73m x 3.89m)
Double glazed bay window to the front, double radiator, coving to ceiling and cupboard housing electric metre.
Outside
Enclosed yard at rear with outside tap and gate to the side.
First Floor = 13A Newcastle Street
Entrance Area
Double glazed door to the side and stairs to the first floor.
Landing
1m x 3 - Access to the roof void and doors to bedroom and lounge.
Lounge
12 x 3.63m - Double glazed window to the side and double radiator.
Kitchen (3.53m x 2.08m)
Range of base and wall mounted units, work surfaces, one and a quarter bowl stainless steel sink and drainer with mixer tap. Integrated oven, hob and extractor fan, space for washing machine and fridge-freezer. Window to the rear, double radiator and wall mounted Glow Worm boiler.
Bathroom (2.64m x 1.35m)
White three piece suite comprising; low level WC, wash hand basin, shower over panelled bath. Double glazed window to the side and single radiator.
Bedroom (3.63m x 3.5m)
Double glazed windows to the front and side, double radiator, electric metre cupboard and over stairs storage cupboard.
9% yield.
13 = ground floor = Accommodation comprising; entrance area, utility, bathroom, kitchen-diner, lounge, bedroom and yard. This is currently rented @ £360 pcm and the tenant has been there over 4 years.
13A = first floor = Accommodation comprising; entrance area, lounge, kitchen, bedroom and bathroom.
This is currently rented @ £465 pcm and the tenant moved in, in 2022.
Total rental income is £825 which is a yield of 9.0 - 9.9%.
Auctioneer Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the
Auctioneer, iamsold Limited
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers
solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria,
affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price
including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as
part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification
verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything
you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation
Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the
preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they
will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral
arrangement and payment prior to any services being taken by you.
Ground Floor = 13 Newcastle Street
Entrance Area
1.42m x 3 - Double glazed door to the side, Access to kitchen-diner and utility.
Utility Room (2.72m x 1.27m)
Double glazed window to the side, single radiator, wall mounted Baxi boiler, space for washing machine and tumble dryer, base units, roll edge work surface. Door to bathroom.
Bathroom (3.33m x 1.22m)
White three piece suite comprising: Low level WC, pedestal wash hand basin, shower in cubicle, single radiator and double glazed window to the side.
Kitchen-Diner (3.53m x 3.5m)
Range of base and wall mounted units, roll edged work surfaces, one and a quarter bowl stainless steel sink and drainer with mixer tap. Integrated oven, hob and extractor fan. Gas metre. Space for fridge-freezer, double glazed windows to the side and rear. Coving to ceiling, single radiator and door to lounge.
Lounge (3.66m x 3.58m)
Double glazed window to the side, single radiator, coving to ceiling and door to bedroom.
Bedroom (3.73m x 3.89m)
Double glazed bay window to the front, double radiator, coving to ceiling and cupboard housing electric metre.
Outside
Enclosed yard at rear with outside tap and gate to the side.
First Floor = 13A Newcastle Street
Entrance Area
Double glazed door to the side and stairs to the first floor.
Landing
1m x 3 - Access to the roof void and doors to bedroom and lounge.
Lounge
12 x 3.63m - Double glazed window to the side and double radiator.
Kitchen (3.53m x 2.08m)
Range of base and wall mounted units, work surfaces, one and a quarter bowl stainless steel sink and drainer with mixer tap. Integrated oven, hob and extractor fan, space for washing machine and fridge-freezer. Window to the rear, double radiator and wall mounted Glow Worm boiler.
Bathroom (2.64m x 1.35m)
White three piece suite comprising; low level WC, wash hand basin, shower over panelled bath. Double glazed window to the side and single radiator.
Bedroom (3.63m x 3.5m)
Double glazed windows to the front and side, double radiator, electric metre cupboard and over stairs storage cupboard.
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