This terraced property presents a compelling investment opportunity located in East Finchley, just a short walk from the Northern Line station. It features a commercial unit on the basement and ground floor, currently producing an annual income of £17,500, with potential for a longer-term lease under negotiation. The upper levels accommodate two spacious one-bedroom flats, one of which is vacant and requires modernization, while the other generates £15,000 per year from a long-standing assured tenant.
Significantly, there are approved plans to convert this property into multiple self-contained apartments. With planning consent in place for either three additional units through extensions and excavation or converting the entire property into five self-contained flats, the renovation potential is substantial. The overall footprint extends to approximately 3,012 sqft once fully redeveloped.
Investors can capitalize on the existing income stream while pursuing renovations that could significantly enhance rental yields in a sought-after London location. This property offers versatility for both immediate rental income and long-term value growth through redevelopment.
