The flats are located along Beech Close just off Coltman Street approximately 1.3 miles west of Hull city centre. The surrounding area predominantly comprises of residential and is in close proximity to Hessle Road and its amenities.
An opportunity to acquire five fully let flats within the same estate on Beech Close in Hull. The flats are held under five leasehold titles with a total combined gross income approximately £20,100 per annum.
The estate comprises of three blocks with on site parking for residents and visitors. Each flat is a 1-bed comprising of open plan living and dining room area with a single family bathroom and kitchen. All flats are currently managed by the same local managing agent with the opportunity to continue their services beyond acquisition if required.
This opportunity will appeal to a private investor seeking to grow their existing or purchase a residential portfolio within Hull at an attractive yield.
All five flats subject to the existing tenancies are available at a guide price of £175,000. A purchase at this level will provides a gross yield of 11.49% and assuming acquisition costs of 5.8%, a net initial yield of 9.51%. Viewings to be made strictly through us as sole selling agent.
For further information about this property listing you can download the brochure or contact Jonathan Barker on 07432 534 668 or by emailing jonathan@barkerproperty.uk
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