The subject property is located on the north side of Osborne Road on the outskirts of Blackpool town centre. Blackpool, the popular seaside resort is on the Irish Sea coast of England.
The opportunity has arisen to purchase this high yielding investment property which has been converted into eight self contained flats, set over four storey’s.
We understand the property has mains electric, water and drainage.
We are advised that seven of the eight properties are currently tenanted and are achieving the following:
4 x One bedroom flats – £90 pw
3 x Two bedroom flats – £115 pw
The property is currently generating £3055 pcm (£36,660 pa). Representing a gross annual yield of 10.2%.
If the property was fully tenanted then a rental income of £3,553.33 pcm (£42,640 pa) would be generated representing a gross yield of 12.92%.
Each property is rated in Council Tax Band A. Council Tax payable (2016/17) is £1057.18
To view this property, please contact John Pye Property – email@example.com – 0115 970 6060
62 – 64 Osborne Road
✓ Two period terraced properties converted into eight flats
✓ Current rent £36,660 pa
✓ Current gross yield of 10.2%
✓ Potential rent £42,640
✓ Reversionary yield 12.92%
✓ Four 2 bedroom flats & four 1 bedroom flats
✓ One 2 bed flat currently vacant
✓ Reasonable condition throughout
✓ Ideal investment opportunity
✓ Strong rental area
✓ Close to amenities and transport links
Phone: 0115 970 6060
Our Ref: PR253