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15 bedroom block of apartments

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023 8210 9507

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Block of apartments

15 bed

15 bath

EPC rating: C*

301 sq ft / 28 sq m

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Property description & features

INVESTMENT OPPORTUNITY
UNDERGROUND PARKING
TENANTS IN SITU
CENTRAL LOCATION
POTENTIAL DEVELOPMENT OPPORTUNITY
12 STUDIO APARTMENTS
3 ONE BEDROOM APARTMENTS
NO ONWARD CHAIN

An exciting investment opportunity has arisen to acquire an established apartment block comprising 15 apartments made up of 12 x studio bedroom apartments and 3 x 1 bedroom apartments as well as secure underground parking accommodating 16 parking spaces. All the apartments are currently rented out and achieving in the region of £80,000 in rental income per annum. The apartment block is in a prime position, just a short walk to Southampton City Centre with its array of restaurants, shopping facilities and local and national transport links. There is potential for increasing the income for the apartments with internal improvements and rent reviews along with further development of the site *SUBJECT TO PLANNING * and the necessary consents. It would be a great opportunity for an investor or property developer with a strong rental return already being achieved and scope to develop further in the future. With internal improvements and rent reviews we believe the income could potentially increase to c£125,000. Currently the gross yield is approximately 4.5% with a projected gross yield of approximately 7%.

Material Information - Southampton - Tenure Type; Freehold
Council Tax Banding; BAND A

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Roxan Court, Banister Road, Southampton

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Hunters - Southampton

35 Bedford Place, Southampton Hampshire SO15 2DG

023 8210 9507

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Hunters Estate and Letting Agent in Southampton offer a wide range of property management services. Their sales department and your dedicated sales consultant can design a bespoke marketing package tailored to your property and individual needs. Whether you are buying, selling or letting your property, we ensure that the whole process is as efficient and stress-free as possible. Hunters Southampton’s lettings department is also able to offer impartial advice to investors looking at the complex HMO market. Specialising in high quality, high return properties, we are always available to share our knowledge on how to get the best from your current property or any that you may be looking at buying.

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Property reference 32263679. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Hunters - Southampton.

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