This mid-terraced property presents a noteworthy opportunity for investors and developers alike, featuring four self-contained flats spread across three floors. Currently, three of the flats are tenant-occupied, generating a monthly income of £2,075, equating to an annual yield of £24,900. Notably, the fourth flat is in need of comprehensive modernization but holds the potential to command a rental rate of approximately £750 per month once updated. Therefore, the overall income could reach £2,825 monthly or about £33,900 annually when fully let.
The layout includes a communal entrance leading to each unit. The first flat boasts an open-plan living and kitchen area along with its own bathroom. Flat 2 is designed as a studio with an efficient use of space; it offers essential amenities including an electric oven and hob. Flat 3 features two bedrooms and a living area that invites natural light alongside functional kitchen facilities. On the upper floor, Flat 4 has spacious living areas and bedrooms that benefit from front and rear views.
Externally, the property includes both a front forecourt and a rear yard, which can be utilized for additional outdoor space or storage solutions.
Situated on the edge of Sunderland City Centre, this property benefits from excellent transport links and proximity to local shops and amenities. Such advantages enhance its attractiveness as a rental investment in a vibrant urban area. Given its current occupancy status combined with the untapped potential for increased rental income through refurbishment of Flat 4, this property represents a promising renovation project for those looking to expand their portfolio or enter the multi-let market.
Prospective buyers are encouraged to conduct their due diligence regarding current tenancy details and potential rental values to fully appreciate this investment's capabilities.
