6 & 8 Brooklyn Terrace

Please see details on the property listed below for you to review – please note that the property consists of two apartments under one freehold.  Both apartments are a generous size.  The ground floor apartment has two bedrooms, and the first floor has one bedroom and a large utility area.  The utility area was previously used as the kitchen and could be returned to this layout to create an extra bedroom to add value.  Both apartments have their own separate front and rear entrance doors so are completely independent.   There is a shared rear garden which could easily be divided to provide two independent garden areas or off road parking spaces.  The current owner is looking to sell both apartments to one buyer under the single freehold.   There is scope to create further value by splitting the title down the line and there is also potential to increase rents.   

Pure Investor are delighted to bring to the market this tenanted freehold property which consists of a two-bedroom ground floor apartment and a one-bedroom first floor apartment. Both apartments have tenants in situ who have been in the property for 6 & 12 months and are on periodic contracts. The apartments are in good condition throughout.

The ground-floor apartment consists of 2 bedrooms, kitchen, bathroom, reception room, entrance hallway and hallway to the rear of the property. There is also a large brick-built storage shed with its own separate UPVC door.

The first-floor apartment consists of 1 bedroom, kitchen, bathroom, reception room, utility room, landing, rear staircase, and staircase from the front door.

There is a rear communal garden space for both apartments and on street parking is available.

The current owner doesn’t live in the area and has excellent local management in place to take care of everything.  There is the option to retain this but there is no tie in.

INVESTMENT INFORMATION

• Asking Price - £113,500.00
• Current Rental Income - £1,000pcm (£500pcm per apartment)
• Tenure – Freehold  
• Ground Rent – N/A
• Service Charge – N/A
• Managing Agent – Keyline Property (charging 10% management fee)
• Current Tenant Situation paying £500pcm per apartment
• Current Gross Yield – 11%
• Current Net Yield (after managing agent costs) – 10%

6 & 8 Brooklyn Terrace - Key Points

Location

Seaham , United Kingdom