2 bedroom block of apartments for sale

Five Two-Bedroom Apartments | £875,000 | 6.34% Gross Yield (Potential 6.51%)

MorfittSmith are delighted to present Lemont House, a superb freehold investment opportunity located in the sought-after suburb of Totley, Sheffield. This modern conversion comprises five self-contained two-bedroom apartments, all sold together as a single freehold block.

The development is fully tenanted and currently produces an annual income of £55,500, representing a 6.34% gross yield at the asking price of £875,000. With minor rent adjustments, the projected gross annual income increases to £57,000, offering a potential gross yield of 6.51%.

Each apartment is finished to a high standard with contemporary kitchens, modern bathrooms, and well-proportioned living spaces. The properties are well maintained and are managed to a professional standard, ensuring reliable rental performance and minimal void periods.

Lemont House sits in a highly desirable area popular with professional tenants, close to local amenities, excellent transport links, and the open countryside of the Peak District National Park. The strong tenant demand and location make this a low-risk, high-performing addition to any portfolio.

Investment Summary

• Five self-contained two-bedroom apartments
• Sold as a single purchase
• Current income: £55,500 per annum
• Current gross yield: 6.34%
• Potential income: £57,000 per annum
• Potential gross yield: 6.51%
• Fully tenanted and professionally managed
• Highly desirable Totley location
• Excellent long-term rental demand and capital growth prospects
• Annual Service Charge: £1692.72 per apt (£8463.60 total)
• Annual Ground Rent: £150 per apt (£750 total)