16 bed Flat For Sale £335,000
16 Flats at The Queens Court, Victoria Road, Sandfields, Neath Port Talbot, SA12 6AU

FOR SALE BY AUCTION - -Lot - Residential Investment
ONLINE AUCTION from 14th MAY-16th MAY

An opportunity to acquire 16 flats situated in a block of 24 in the sought after seaside location of Aberavon. Included in the sale is the headlease of the whole building and carpark.

The flats are sold with 14 flats let and two vacant with many of the tenants well established. The flats (with off-street parking) are situated just a short distance from the promenade which boasts one of the largest beaches in Wales with great views.

The area has seen a good level of investment over the last few years and there are many new residential developments close by and this site may offer scope for improvement or re development in the future.

VIRTUAL TOUR

Please note only 2 of the flats ( ) have been inspected internally by auctioneers however we are informed that the configuration of the 16 flats are all the same and comprise;- entrance, lounge/kitchen/bedroom and bathroom.

AccommodationFloorDescriptionRentFlat 1£300 pcmFlat 3£310 pcmFlat 4£325 pcmFlat 6£300 pcmFlat 7£300 pcmFlat 8£300 pcmFlat 10£300 pcmFlat 11£300 pcmFlat 12£325 pcmFlat 13£325 pcmFlat 14 (Vacant)VacantFlat 15£325 pcmFlat 18£300 pcmFlat 20 (Vacant)VacantFlat 22£300 pcmFlat 23£325 pcmAnnual income £52,020Annual income when fully let £55,420

Tenure:
Advised Leasehold (council as ultimate freeholder)- to be verified by solicitor

Tenancies:
14 flats are let
Annual income £52,020
Annual income when fully let £55,420

The LHA (local housing allowance) rates for each of the flats is £94.74 per week which would give a gross rent of (£94.74 X 52 X 16) £ 78,823.