4 bedroom block of apartments for sale
Key information
Property description & features
- Tenure: Leasehold
- TO BE SOLD UNDER AUCTION TERMS
- THREE ONE BEDROOM FLATS AND ONE STUDIO
- PROFITABLE PORTFOLIO
- CENTRAL HYDE LOCATION
- LONG STANDING TENANTS
- POTENTIAL 12.3% YEILD BASED ON GUIDE
TO BE SOLD BY ONLINE AUCTION ON 24 TH APRIL 2024 UNLESS SOLD PRIOR UNDER AUCTION TERMS.
* FLAT 1-4, 332–336 MARKET STREET, HYDE SK14 1RJ *
Three one-bedroom flats with lounge, kitchen, one bedroom and en suite shower rooms and one studio apartment with kitchen and shower room. FREEHOLD TITLE IS INCLUDED.
An exceptional opportunity presents itself to acquire a fully-established and profitable portfolio situated in the heart of Hyde. Three of the flats come with long-standing tenants, while one unit is currently vacant. Consistently maintaining full occupancy has ensured the current landlords a lucrative investment over the years. Moreover, being located in a high-demand area with limited rental availability, this portfolio promises to be a highly profitable investment.
Current rental trends in the area indicate the potential for increased rents, with other one-bedroom flats in the vicinity in the region of £600 - £650 per month. When fully occupied, the portfolio generates £1805 per calendar month (equating to £21,660 annually), representing an impressive 12.3% yield based on today’s guide price, even without any rental increases.
Hyde's town centre is highly sought-after among residents and tenants alike, offering an extensive array of amenities, schools, and excellent transport connections. Its strategic location ensures convenient access to surrounding towns and Manchester city centre for both work and leisure purposes.
EPC RATINGS -
FLAT 1 - C
FLAT 2 - D
FLAT 3 - C
336 MARKET STREET - D
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