This freehold investment opportunity features a substantial building housing seven flats, including a side-detached bungalow, strategically located near the beach. The property showcases notable potential for enhancement, as both the main structure and individual flats are in need of modernisation to optimise rental yields. Currently, the annual income stands at around £53,580, excluding two flats that remain unlet, presenting further avenues for revenue increase. The layout includes a top-floor flat with appealing sea views, while all residents have access to communal outdoor areas and private storage sheds. This asset is ideally suited for investors looking for a project with promising long-term returns in a desirable coastal location.
Externally, the property boasts a communal garden primarily constructed from stone, offering maintenance ease for residents. A unique circular raised area within the garden enhances its appeal, complemented by hard-standing and decked sections suitable for various outdoor uses. Each flat is assigned its own shed for storing bicycles or gardening tools. In addition to multiple parking spaces at the front of the building, there is potential to remove a brick flower bed to create additional parking if required. The arrangement of exterior spaces prioritises functionality and convenience while benefitting from close proximity to the seafront.
