This property offers a unique opportunity for investors and those looking to explore renovation potential. Located on the well-known Brighton Road in Alvaston, it currently features two residential units: a 1-bedroom flat and a spacious 2-bedroom flat on the first floor. Both flats are well-maintained and generate a steady rental income of approximately £16,000 per year.
In addition to the residential spaces, the property includes a significant garage at the rear, which adds notable investment potential. This garage could serve as a viable site for further development, potentially allowing for the construction of a two-story L-shaped building with commercial space on the ground floor and residential units above, subject to obtaining the necessary planning permissions.
The prospect of converting existing flats into a House in Multiple Occupation (HMO) is also worth considering. With local regulations permitting up to 7 or 8 bedrooms, there is substantial potential for increased rental income through this avenue.
Overall, this property not only provides immediate cash flow but also offers compelling opportunities for future enhancement and expansion in an area that continues to attract interest from both renters and buyers alike.
