8 unit block generating £48,480 rent pa & gross yield of 8.8%

Details

 An opportunity to purchase a 8-unit block in Bishop Auckland generating £48,480 rent pa & gross yield of 8.8%

The block

TENURE – Freehold

NO OF UNITS – 8

TENANCY STATUS – Tenanted

FURNISHED – No

TOTAL SQ FT – 3,326

PRICE SQ FT – £165

Block information

• Spread over three floors (ground to second floor)
• Comprising of:
  • 7 x 1-bed apartments
  • 1 x 2-bed apartment
• EPC ratings C, D & E

Rental information

• Aggregate monthly rental income: £4,040
• Aggregate annual rental income: £48,480
• Aggregate gross yield: 8.8%

Location information

• The property is located in the Woodhouse Close ward of Bishop Auckland
• Bishop Auckland town centre is 1 mile from the property
• There is a bus stop a few moments walk from the property
• Bishop Auckland railway station can be reached in less than 10 minutes on foot