ATTENTION INVESTORS - POTENTIAL 8.4% YIELD! An amazing opportunity to purchase a block of 4 individual student apartments located in the heart of bustling Falmouth. Currently generating an annual rent of £63,840. There is a projected income of £71,000 plus a £60-£90pcm utilities contribution from each flat in 2024/2025. The block comprises 1 x one bedroom apartment, 2 x two bedroom apartments and 1 x three bedroom apartment. Also included is parking for 1 - 2 cars. Can be used for Residential or Student use.
FULLDESCRIPTION - FOUR INDIVIDUAL STUDENT APARTMENTS CONSISTING OF 1 X ONE BEDROOM, 2 X TWO BEDROOMS, AND 1 X THREE BEDROOMS
- CURRENTLY GENERATING AN ANNUAL RENTAL INCOME OF £63,840
- PROJECTED ANNUAL INCOME TO RISE WITH INCREASED RENTS TO £71,000 PLUS A £60-90PCM UTILITIES CONTRIBUTION FROM EACH FLAT IN 2024/2025.
- LET UNTIL 2025
- CCTV & WIFI
- CENTRAL FALMOUTH LOCATION
- STUDENT & RESIDENTIAL USE PERMITTED
- PARKING SPACE FOR 1-2 CARS
A fantastic opportunity to acquire a block of 4 individual student apartments located in the heart of Falmouth. These flats are generating an annual rental income of £63,840. There is a projected income of £71,000 plus a £60-£90pcm utilities contribution from each flat in 2024/2025. Current tenancies in place until 2024 with one renewing and the remaining three have been let. The block comprises 1 x one bedroom apartment, 2 x two bedroom apartments and 1 x three bedroom apartment. The block is monitored by CCTV in the communal areas. There is a monthly contribution from tenants for some utilities. Also included is parking for 1 - 2 cars. Can be used for Residential or Student use.
All properties have an EPC rating of C. All apartments are compliant with up to date electrical and gas safety certificates.
LOCATION Consistently named as one of the top places to live in the UK, Falmouth is a bustling university town with a fantastic mix of eateries & galleries. Throughout the year the town hosts various festivals and events including the world famous tall ships regatta and red arrows display. With excellent bus routes, and train stations not far away, this location is perfect for both students and residential lettings.
OTHER Our lettings department would expect to achieve a gross yield of 8.4% . For any further information or any buy to let related advice please contact our lettings department on 01326 374850 and ask for Sammy Jones.
