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£700,000 Offers in region of

6 bedroom block of apartments for sale

Cardigan Street - TOWN CENTRE - LU1 1RP

£700,000 Offers in region of

6 bedroom block of apartments for sale

Cardigan Street - TOWN CENTRE - LU1 1RP

Description

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Property features

  • Being sold with the FREEHOLD!
  • Being sold with the tenants (furniture and white goods included).
  • Benefits from landlord storage space
  • Wired CCTV
  • Set up with WiFi supply for all flats
  • Converted to flats about 10+ years ago.
  • All flats are listed. Planning approved and Planning Regulations approved.

Nearest stations

Luton (0.3mi.)
Luton Airport Parkway (1.2mi.)
Leagrave (2.3mi.)

Nearest schools

school icon  Dallow Primary School (0.3mi.)
Good
school icon  Bury Park Educational Institute (Al - Hikmah Secondary School) (0.4mi.)
noop
school icon  Luton Pentecostal Church Christian Academy (0.4mi.)
noop

Property description

I WANT TO VIEW THIS PROPERTY :
Call us to book a viewing. If we don't answer, please send in your details by clicking the "REQUEST DETAILS" button, we promise to call you back within 24hours. 

INVESTORS!! FREEHOLD BUILDING OF 5 FLATS available FOR SALE. Compromising of 4x 1BED FLATS and 1x 2BED FLAT. Located in right in the heart of the town centre, it is sure to get full occupancy year around.

Currently rented all year around to great tenants at a reasonable rental amounts:

A great minimum current yield of 5.8% at an attractive investment of £650,000 with the potential to increase it easily to 6%.

Many tenants have been long standing tenants hence the rents can be increased significantly for new tenancies resulting in an increased yield. All tenants are full time working. Due to it being located right in the town centre, it can lean itself to attracting the university students as well as commuters as it's very close to the train station.

• Being sold with the FREEHOLD!
• Being sold with the tenants (furniture and white goods included).
• Benefits from landlord storage space
• Wired CCTV
• Set up with WiFi supply for all flats
• Converted to flats about 10+ years ago.
• All flats are listed. Planning approved and Planning Regulations approved.
• All flats are heated with gas central heating and fully double glazed
• Installed with fire doors and Heat & Smoke detectors insulated.

Each flat is individually metered for Gas, Electric & Water directly with the suppliers.
 

LAYOUT ARRANGEMENT:
FLAT A – ground floor 2 bed flat
FLAT B – 1st floor with Flat D above it
FLAT C – 1st floor with Flat E above it
 

PARKING:
This property has no ALLOCATED PARKING SPACE – a parking permit would need to be obtained from the council and park on the road. Or pay for "PAY & DISPLAY". Parking is free from 6PM to 8AM. Sunday is FREE.

Parking permits are approximately £50 per year from the local council. 

WHAT IS NEARBY? WHAT IS THE AREA LIKE?:
How far is it from….…?
• Easy access to TOWN CENTRE
• A short drive to LUTON AIRPORT
• Walking distance to the DOCTORS SURGERY & PHARMACY
• Quick hop to the BUS STOP
• A few minutes walk the SUPER MARKET (SAINSBURY'S, LIDL)
• Swift walk to the nearest TRAIN AND COACH STATION
• Brisk walk to the PARK and back
 

CURRENT TENANTS COMMENTS:
"We've been in this property for many years now and would ideally like to remain longer if possible but can move and find another home if need be. The property is perfect for what we need it. Great community nearby with easy access to all the essentials". 

SELLERS COMMENTS:
"The tenants are great. Many have been here for many years and are now like friends. They are very welcoming, and I've always received rent on time. They all know me personally and we get on really well.

I've had this building for over 15+ years now. I converted the building around 10+ years ago. During my ownership I maintained it well and have inspected it regularly, although it doesn't cost much at all to maintain it because the architectural design, plumbing and setup of the building is fantastic which facilitates for minimal ongoing maintenance. It's provided me an impressive yield every year."
 

I WANT TO VIEW THIS PROPERTY:
Call us to book a viewing. If we don't answer, please send in your details by clicking the "REQUEST DETAILS" button, we promise to call you back within 24hours. 

LANDLORDS / VENDORS: Abbey Property has BUYERS and TENANTS for all types of properties. If you are considering SELLING/RENTING your property, please contact us on[use Contact Agent Button].

Luton is an established London commuter town where property prices are still relatively affordable compared with many other towns and cities in the South East region and other commuter towns.

Luton is benefiting from £1.5 billion in private investment and a surging demand for town centre accommodation due to over 18,500 projected new jobs.

Due to both increasing Greater London apartment prices and crucially rising rental values, London's commuter belt is thriving with a massive increase in popularity.

About Luton*:
• Rents have increased 3.7% over last 12 months
• Property prices have increased 8.5% over last 12 months
• Population to rise 20% by 2031
• Classified as an Enterprise Zone by the UK Government
• £1.5 billion in private investment
• £160 million transformation of London Luton Airport
• 23 minutes to London Kings Cross via Luton Station
*The above facts and figures have been provided by the Developer and are set out in more detail in the brochure accessed via the link below.

 

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Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

Nearby services within a 4 mile radius

Stations
Schools
Food stores
Health

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Floor plans

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Property reference 101417001443. 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. This property advertisement does not constitute property particulars. The information is provided and maintained by Abbey Property - Luton. Please contact the property advertiser directly to obtain any information which may be available under the terms of 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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