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Upgate, Louth, LN11 9ER

East Midlands

£185,000
Listed on 10/05/2024

Property Details

Bedrooms
3
Type
Terraced house

Description

This period townhouse offers a unique investment opportunity in the heart of Louth, a historic market town known for its charming atmosphere and rich community life. Currently configured as three flats—two with one bedroom each and one with two bedrooms—the property invites potential for renovation and modernization to enhance both functionality and appeal. The building is distinguished as a Grade II listed structure, reflecting its historical significance while also presenting various possibilities for sympathetic updates. Characterized by solid brick construction and a rendered facade under a tiled roof, it retains original features alongside essential amenities such as individual gas boilers for each flat, mains water, electricity, and drainage connections. The communal areas benefit from safety precautions including smoke alarms and emergency lighting systems. Situated opposite St James' Church within Louth's central Conservation Area, this location offers accessibility to a mix of independent shops, delicatessens, and local markets that contribute to the town's vibrant culture. Residents can take advantage of nearby recreational facilities including parks, golf courses, theaters, and sports clubs. Local schools like King Edward's VI Grammar School enhance the appeal for families looking for quality education options. The property comprises multiple levels accessed via both front and side entrances. A rear courtyard provides practical outdoor space currently utilized for bin storage while offering potential for further improvement or landscaping. Each flat boasts its own distinct layout featuring basic living spaces that could be enhanced with contemporary design elements to attract higher rental yields. In summary, this freehold block of flats presents an enticing prospect for investors looking to capitalize on Louth’s growing popularity. With its promising renovation potential amidst a desirable location rich in amenities, there is significant opportunity to increase value through thoughtful updates over time.

Investment Analysis

(LN11 area)
Area Average
£220/sq ft
Avg Rent (weekly)
£163
Avg Yield
3.3%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £50,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
32
Average per month
Market Turnover
8%
Properties sold annually

Local Market Trend (LN11)

Area prices are rising by +3.4% over the last 12 months
3 year growth: 2.7%
5 year growth: 18.0%
Investment Disclaimer: Analysis based on LN11 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Upgate, Louth, LN11 9ER
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£678
Based on a loan of £138,750 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE