This property presents a compelling opportunity for investors or those with a vision for renovation. Comprising four self-contained flats, the mid-terrace layout offers spacious living areas and has been consistently occupied by long-term tenants, generating an annual rental income of £31,200, supported by council funding. The potential yield is noteworthy at 19% based on current rental agreements.
Located in the Old Meadows Conservation Area, the property benefits from its proximity to The Meadows Recreation Ground, The River Trent, and Nottingham City Centre. These amenities contribute to a vibrant community atmosphere, making it appealing for future tenants. Additionally, local schools are within easy reach, enhancing its attractiveness for family-oriented renters.
The configuration of the property includes an entrance hallway leading to the first two flats on the ground floor. Each flat features its own lounge/bedroom space and bathroom facilities on the upper floors. Notably, Flat One has a dedicated bathroom with a modern three-piece suite; Flat Two includes a separate kitchen and access to a rear courtyard; Flat Three offers a shower and kitchenette on the second floor; while Flat Four features its own shower room.
While some modernization is required, this allows for customization to meet tenant preferences and potentially increase rental yields further. Utilities are currently managed by tenants, streamlining operational responsibilities for an investor.
Outdoors, there is a small courtyard along with additional garden space accessible via a rear alleyway—a rare find that could be enhanced into an attractive outdoor area.
The property is equipped with new interior fire doors installed in May 2024, which adds value from a safety perspective. With amenities such as broadband options available in this location and good mobile coverage from multiple carriers, this property is well-suited for today’s renters.
Overall, this property not only confirms immediate revenue generation but also presents substantial scope for enhancement through renovations that could increase both its market value and rental potential over time.
