This spacious four-bedroom detached chalet bungalow offers a unique opportunity for investors and developers looking to capitalize on its existing rental income potential. Located in the desirable area of Costessey, Norwich, this property sits on a generous corner plot, providing an excellent foundation for future enhancements or landscaping projects (subject to planning permissions). Currently occupied by tenants under a short-term tenancy agreement, the property generates £975 per month, translating to an annual income of £11,700. This arrangement ensures immediate cash flow for any new owner until at least November 2025.
The layout of the home spans two levels and features versatile living spaces that can accommodate various needs—be it as a rental asset or a family residence once vacant possession is available. The ground floor includes an inviting entrance hall leading to a spacious lounge and a fitted kitchen ripe for modern updates. Two well-sized bedrooms on this level enhance livability, while the first floor offers an additional two bedrooms.
Occupying this corner plot allows for greater privacy and potential kerb appeal, making it an attractive proposition for future modifications. Off-road parking further adds to convenience, appealing to both residents and visitors.
Set within a well-maintained cul-de-sac in Costessey, residents will benefit from nearby amenities such as schools, shops, medical facilities, and recreational opportunities. Transport links are ample with connections to the A47 and A11 facilitating easy access into Norwich city centre and beyond.
In summary, this property not only represents a solid buy-to-let investment with guaranteed income but also holds considerable potential for renovation and value enhancement in the thriving Norwich market.
