This traditional three-bedroom mid-terrace property presents an intriguing opportunity for investors and landlords. Currently generating a rental income of £360 per month under an existing tenancy, it offers a gross yield of 10.8% based on the auction starting bid. With potential for rental enhancement, modernised properties in the vicinity command rents around £600 per month, indicating possible annual returns of £7,200 or an impressive gross yield of 18% if updates are undertaken. The property requires a program of renovations and improvements to elevate its condition and maximise rental returns, making it a suitable project for those looking to increase property value over time.
The layout includes a practical ground floor featuring an entrance hall leading into a living area, sitting room, kitchen with essential fittings, and a rear lobby along with a bathroom. The first floor accommodates three bedrooms. A rear garden adds further appeal. This property is located in a selective licensing area; therefore, prospective buyers should confirm compliance requirements with local authorities. This auction sale represents an excellent investment opportunity with significant scope for refurbishment and future growth in rental income.
