Property Details

2 bedroom flat for sale For Sale

Albany Road, Spon End, Coventry, West Midlands, England, CV1 3GN, United Kingdom

£107,000

ROI = 20% BMV = 15.37%

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Description

*INVESTMENT OPPORTUNITY* This first floor 2-bedroom purpose-built flat comes with a reliable tenant already in situ, offering an immediate income stream from the moment the sale completes. Situated in the sought-after location of Earlsdon. With rental demand remaining high in the area, this investment is poised to deliver consistent returns. Summary - *INVESTMENT OPPORTUNITY* This first floor 2-bedroom purpose-built flat comes with a reliable tenant already in situ, offering an immediate income stream from the moment the sale completes. Situated in the sought-after location of Earlsdon. With rental demand remaining high in the area, this investment is poised to deliver consistent returns. Exterior - The property sits on the first floor of a block consisting of six flats over three floors. It is part of a building housing a total of 21 apartments and three shops. Off-road parking is located at the rear of the property, accessible from Broadway. Communal Entrance - Communal door entry into hallway with stairs leading to first floor. Entrance Hallway - Front door into the entrance hallway with door leading to Lounge - 4.8 x 3.3 (15'8" x 10'9") - With double glazed window overlooking the front of the property Kitchen - 3.7 x 1.8 (12'1" x 5'10") - With double glazed window overlooking the rear of the property. Fitted wall and base units, stainless steel sink, fitted extractor fan, and plumbing connections for washing machine. Bedroom 1 - 3.9 x 3.2 (12'9" x 10'5") - With double glazed window overlooking the rear of the property Bedroom 2 - 3.7 x 2.4 (12'1" x 7'10") - With double glazed window overlooking the front of the property. Bathroom - 4 x 1.4 (13'1" x 4'7") - With white bathroom suite consisting of; bath, pedestal sink and toilet. Leasehold Information - The property is leasehold. There is currently 64 years remaining on the lease. Enquiries will need to be made with the freeholder regarding lease extension. The asking price is reflective of the requirement and cost involved with extending the lease. A service charge is payable and is currently set at £75 per month. Ground rent is £50 per annum. Investment Opportunity - The vendor is looking to sell the property with a tenant in situ, this means that the buyer will receive income from the property from the moment the sale is completed. The current tenants are in a fixed term tenancy, which ends in July 2025. The rent being achieved is £950PCM, which is inline with the current market rent for the area. The location of the property is in demand and particularly attractive to tenants, being in close proximity to Earlsdon street and within walking distance of Coventry Train Station. Further Information - The property has been banded as Council Tax Band A. The Energy Performance (EPC) Rating for this property is C. Disclaimer - Whilst we make enquiries with the Seller to ensure the information provided is accurate, Homemaker Properties makes no representations or warranties of any kind with respect to the statements contained in the particulars which should not be relied upon as representations of fact. All representations contained in the particulars are based on details supplied by the Seller. Your Conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. Please inform us if you become aware of any information being inaccurate. Money Laundering Regulations - Should a purchaser(s) have an offer accepted, they will need to undertake an identification check and asked to provide information on the source and proof of funds. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement.

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