Attention investors and landlords: This traditional three-bedroom mid-terrace home presents an intriguing opportunity for those looking to enhance their portfolio. Currently generating a monthly rental income of £360, which amounts to an annual total of £4,320, this property offers an attractive gross yield of 10.8% based on the starting auction bid. However, with some strategic upgrades and renovations, you could potentially increase the rental income to around £600 per month—resulting in a significant annual return of £7,200 and a reversionary gross yield of 18%.
The interior layout includes a welcoming entrance hall leading into a living room and sitting room on the ground floor, along with a kitchen equipped with essential fittings. A rear lobby and bathroom complete this level. Upstairs, you'll find three bedrooms that provide solid space for tenants. Outdoors, there's potential for landscaping in the front and rear gardens. With existing rent levels unadjusted for some time, there is considerable room for increasing market rents through thoughtful improvements.
This property is situated in an area recognized for its selective licensing; prospective buyers should verify compliance with local regulations. If you're seeking a project that promises avenues for both immediate rental income and future value appreciation through modernization efforts, this could be your next investment.
