•For Sale By Online Auction: 27th – 28th February 2019
•Guide Price: £110,000+
•Freehold end terrace former HMO property
•One bedroom ground floor flat
•First & second floors – four bedrooms, two kitchens, two living rooms & two bathrooms
•Opportunity to add value – basement flat requiring conversion
•Vacant Possession: Potential Income of £21,400 pa –19.45% Yield
This property comprises accommodation arranged over basement, ground and two upper floors.
There is a spacious one bedroom flat to the ground floor, and former licenced HMO to the upper floors. The first floor comprises two bedrooms, living room, kitchen and bathroom. The second floor includes a further two bedrooms, kitchen, living room and bathroom.
This property is located on Arnside Crescent, off Thornton Road in Morecambe. The property is situated on the outskirts of Morecombe town centre.
Railway services are available at Morecombe Train Station, one mile south west of the property.
The larger city of Lancaster is located approximately 4 miles to the south east. Lancaster is a well-established University City.
The M6 motorway is located under five miles from the property, providing easy access to the rest of the country.
The property also benefits from on street, unrestricted parking within the vicinity.
We understand the property has mains electricity, water and drainage. However, we advise interested parties to carry out their own investigations.
The property is freehold.
The property is currently vacant. However, we expect the one bedroom flat to let at £375 pcm (£4,500 pa). Subject to obtaining the necessary licenses, the upper floors could be let out as a five bedroom HMO at £65 per week (£16,900 pa), inclusive of bills, providing a total potential rental income of £21,400 pa. This would reflect a potential gross yield of 19.45%, based on the guide price.
2% (min. £3,600) inc. VAT.
Please contact a member of our Property team on 0115 970 6060 to book a viewing appointment.
If you are thinking of selling your property, contact us now for a free appraisal and benefit from:
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