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Property Listing Details

Property details

  • 8 bedrooms
  • 2 bathrooms
  • 2 reception rooms
  • Floor area 1,520 sq. ft

Features

  • Leasehold
  • Underground parking
  • Fully tenanted investment properties
  • 2 x 4-bed apartments
  • 7.4% Gross Rental Yield
  • £32,532 rent per annum
  • 16.4% hpi (last five years)

Listing view statistics

Last 30 days: 264 page views

Since listed: 2002 page views

Description

This is an investment opportunity to purchase two tenanted apartments in the centre of Newcastle. These properties generate £32,532 in rent per annum and have a gross yield of 7.4%.

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 2004


Block information

  • 2 x 4-bed apartments
  • Communal entrance with key code access
  • Lift access
  • Popular with students and young professionals
  • The building comes with a communal garden and is serviced & maintained by a management company
  • Lift access
  • Popular with students and young professionals
  • Aggregate monthly rental income £2,423 until June 2020
  • Aggregate monthly rental income £2,773 from July 2020


Property information

  • 2 x 4-bed apartments
  • Each comes with a spacious living room and separate kitchen
  • Fully tenanted
  • Each apartment has comes with a parking space
  • EPC rating C


Rental income

  • 1st apartment: Let for £950 pcm until June 2020 and then for £1,300 from July 2020 until June 2021
  • 2nd apartment: Let for £1,473 until June 2021


Location information

The property is ideal for families or students occupancy, offering a variety of educational institutions such as the Sacred Heart rc High School, Gosforth Academy and two universities, of which Newcastle University is within 100 meters walking distance and Northumbria University is just on the doorstep.

You could get

Superfast broadband Superfast broadband

Up to 80 Mbps (Source: Ofcom)

Floorplan

Map & Nearby

Local Amenities

  • Manors 0 miles
  • Newcastle 0.6 miles
  • Christ Church CofE Primary School 0.2 miles
  • Hotspur Primary School 0.7 miles

Local map of the area

Map View Map showing location of property

Local Amenities

  • Manors 0 miles
  • Newcastle 0.6 miles
  • Christ Church CofE Primary School 0.2 miles
  • Hotspur Primary School 0.7 miles

Market stats

Sale activity

Average estimated value for a flat in NE1:

  • £173,915
  • Price decrease

  • -£3,472
  • (-1.957%)
  • Over the last 12 months

In the last 12 months

  • Average sale price

    £152,258
  • Properties sold

    40

Rental opportunities

Not known

Recent sales nearby

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Estimated running costs

Based on available 3rd party data

Approximate costs
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The Agent

Price history

Sold prices provided by Land Registry
18th Sep 2020 £400,000 Price reduced by £40,000
18th Sep 2020 £440,000 First listed

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Property descriptions and related information displayed on this page are marketing materials provided by Vesta Property. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Vesta Property for full details and further information.