3 bedroom apartment for sale
Key information
Property description & features
- Tenure: Leasehold
- Tenant In Situ
- Yield in excess of 5% with potential for higher
- Long term tenant who has been in property for 6 years
- Spacious first floor apartment
- Overlooking the River Stour
- EPC Rating C
Welcome to this fantastic property offering a unique investment opportunity with an attractive leasehold arrangement. Situated in a desirable location with views to the front over the River Stour, this property boasts 107 years remaining on its lease, ensuring long-term value and stability for potential investors.
This spacious first floor apartment features a current ground rent of £240 per annum, providing a manageable overhead cost. Additionally, the property benefits from a service charge of £1,600 per year, ensuring the upkeep and maintenance of communal areas, enhancing the overall appeal of the property.
Generating a steady income stream, the property is currently tenanted with reliable occupants paying £885 per calendar month in rent. With a year-long tenancy in place, set to expire in April 2025, and a convenient 6-month break clause, investors can enjoy both security and flexibility in managing the property. The occupants have expressed a desire to stay and are willing to negotiate a rent increase at the 6 month mark.
If you're seeking a sound investment opportunity, this property offers the perfect blend of long-term value, financial stability, and tenant satisfaction. Don't miss out on the chance to make this property your own and reap the rewards of its enduring appeal. Schedule your viewing today!
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Property reference HAL240106. 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 Leaders - Halstead.
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Broadband availability and predicted speed
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Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on January 13, 2024
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area: obtained on February 16, 2017 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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