This freehold property presents an intriguing investment opportunity with two self-contained flats located in the desirable area of Easington Colliery, Peterlee. While the property is in need of refurbishment, it holds significant potential for value enhancement. The ground floor flat features a spacious lounge, two bedrooms, a galley kitchen, a dedicated dining room, and a bathroom. The upper flat, spanning the first and second floors, boasts a large lounge, a kitchen, two double bedrooms, an additional smaller bedroom, and its own bathroom. Both units benefit from private entrances.
With renovation efforts focused on enhancing the interiors and potentially elevating rental appeal, there is an estimated post-renovation income opportunity of around £1,150 per month (£13,800 annually), translating to an impressive gross yield of approximately 30% based on initial price considerations (subject to independent verification and excluding necessary refurbishment costs). This property enjoys a prime location with local amenities nearby and convenient transport connections via Horden Railway Station to Sunderland and Newcastle as well as easy access to the A19 for broader commuting needs. An excellent project for investors looking to capitalize on high-yield opportunities through renovation.
