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Property Listing Details

4 bed flat for sale

Split Into 2 Self-Contained Flats, Tatham Street, Sunderland SR1

  • Investment

£40,000

Property details

  • 4 bedrooms
  • 2 bathrooms

Features

  • Freehold
  • For sale by auction – T & c’s apply
  • Subject to an undisclosed reserve price
  • Reservation fee applicable
  • EPC rating E
  • The modern method of auction

Listing view statistics

Last 30 days: 238 page views

Since listed: 993 page views

Description

For sale by modern method of auction: Starting bid price £40,000 plus reservation fee.
Flats can include appliances & are in lettable condition with A few minor snags required.

Ready made investment property returning over 10% yield (@ £8400 pa) and within walking distance of city centre.
Comprising two self contained flats on two separate floors; the ground floor flat has a modern bathroom and kitchen with appliances, one large double bedroom and a spacious lounge. The second floor flat is currently organised with 2 double bedrooms as a flat/student share plus modern bathroom and kitchen.
Overall, we feel this is an excellent investment opportunity with the added benefit of being able to create two leasehold flats in the future to allow financing or disposal separately.
Viewing arrangements are via the agent and can be organised by contacting our local office. Management and tenant finding services and are also available should you require assistance in this area.
This property is for sale by The Great North Property Auction powered by Iam-sold.

Introduction

For sale by modern method of auction: Starting bid price £40,000 plus reservation fee.
Flats can include appliances & are in lettable condition with A few minor snags required.

Ready made investment property returning over 10% yield (@ £8400 pa) and within walking distance of city centre.
Comprising two self contained flats on two separate floors; the ground floor flat has a modern bathroom and kitchen with appliances, one large double bedroom and a spacious lounge. The second floor flat is currently organised with 2 double bedrooms as a flat/student share plus modern bathroom and kitchen.
Overall, we feel this is an excellent investment opportunity with the added benefit of being able to create two leasehold flats in the future to allow financing or disposal separately.
Viewing arrangements are via the agent and can be organised by contacting our local office. Management and tenant finding services and are also available should you require assistance in this area.
This property is for sale by The Great North Property Auction powered by Iam-sold.

Auctioneers Comments

This property is for sale by the Modern Method of Auction which is not
to be confused with Traditional auction. The Modern Method of Auction
is a flexible buyer friendly method of purchase. We do not require the
purchaser to exchange contracts immediately, but grant 28 days to achieve
exchange of contracts from the date the buyer’s solicitor is in receipt of the
draft contracts and a further 28 days thereafter to complete. Allowing the
additional time to exchange on the property means interested parties can
proceed with traditional residential finance. Upon close of a successful
auction or if the vendor accepts an offer during the auction, the buyer
will be required to put down a non-refundable Reservation Fee of 4.2%
subject to a minimum of £6,000 incl VAT which secures the transaction
and takes the property off the market. The buyer will be required to sign an
Acknowledgment of Reservation form to confirm acceptance of terms prior
to solicitors being instructed. Copies of the Reservation form and all terms
and conditions can be found in the Legal Pack which can be downloaded
for free from the auction section of our website or requested from our
Auction Department.
Please note this property is subject to an undisclosed Reserve Price
which is generally no more than 10% in excess of the Starting Bid. Both
the Starting Bid and Reserve Price can be subject to change. Terms and
conditions apply to the Modern Method of Auction, which is operated by iam-sold Ltd.
To view or make A bid – Contact Good Life
or visit:

Shared Entrance

Entrance via uPVC double-glazed front door. Vinyl wood effect flooring, secure door leading to ground floor flat 1, secure door leading to first floor flat 2.

Flat 1

Entrance Hall

Laminate wood-effect flooring, door leading off to double bedroom, door leading off to lounge.

Bedroom (12' 6'' x 12' 5'' (3.81m x 3.78m))

Laminate wood-effect flooring, single radiator, rear facing white uPVC double-glazed window (is in need of some repair). Furniture that can be included in this comprises of; double divan bed and mattress, side cabinet.

Lounge/Bedroom (15' 6'' x 14' 6'' (4.72m x 4.42m))

Laminate wood-effect flooring, single radiator, front facing white uPVC double-glazed window with pleasant views. Modern electric consumer unit, electric meter. Door leading off to kitchen.

Kitchen (16' 7'' x 6' 8'' (5.05m x 2.03m))

Laminate wood effect flooring, single radiator, side facing white uPVC double-glazed window on to a private yard, white uPVC double-glazed door leading out to rear yard. Fitted kitchen with a range of modern floor units in a medium wood effect finish with contrasting laminate work surfaces, stainless steel sink with single bowl and single drainer and matching tap, wall mounted combi boiler ( see photograph) space and plumbing for a washing machine, gas cooker, tall fridge/freezer, microwave, feature extractor chimney. We understand the appliances ( double fridge/freezer, microwave, gas cooker, washing machine) can be included with the sale, door leading off to bathroom.

Bathroom (10' 4'' x 6' 0'' (3.15m x 1.83m))

Measurements are approximate.
Ceramic tile flooring, double radiator, rear facing white uPVC double-glazed window with privacy glass. White bathroom suite comprising of; toilet with low level cistern, sink with single pedestal and chrome tap, bath with panel, chrome taps with shower-head attachment, shower rail and curtain over. The walls are finished durable white uPVC cladding.

Flat 2

Entrance Lobby

Wood effect vinyl flooring, rear door leading to enclosed yard/garden which also provides access down the side of the property to a roller shutter at the front for refuse bins etc. Stairs to half landing.

Half Landing

White uPVC double-glazed window with views of the rear. Stairs to full landing.

First Floor Landing

Laminate wood-effect flooring, doors leading off to, bedroom 1, bedroom 2, bathroom and kitchen.

Bedroom 1 (11' 8'' x 9' 0'' (3.55m x 2.74m))

Laminate wood-effect flooring, single radiator, front facing white uPVC double-glazed window, double divan bed with matress, computer desk and chair, 2 wardrobe

Bedroom 2 (11' 9'' x 11' 3'' (3.58m x 3.43m))

Laminate wood effect flooring, single radiator, front facing white uPVC double-glazed window with very pleasant views including some restricted sea views. Furniture includes double divan bed and mattress, 2 wardrobes, tv table.

Bathroom (9' 5'' x 4' 8'' (2.87m x 1.42m))

Laminate tile effect flooring, rear facing white uPVC double-glazed window. White bathroom suite comprising of; toilet with low level cistern, sink with single pedestal and chrome taps, bath with panel, chrome taps with shower head attachment, shower rail and curtain. The area around the bath is finished in a ceramic tile.

Dining/ Kitchen (12' 9'' x 9' 0'' (3.88m x 2.74m))

Laminate wood-effect flooring, single radiator, fitted kitchen with a range of wall and floor units in a white finish with complementary laminate work surface. Stainless steel sink with single bowl, single drainer and matching monbloc tap. 4 ring gas hob. Circular table and chairs, microwave, wall mounted combi boiler (see picture) space for a washing machine, rear facing white uPVC double-glazed window.

Map & Nearby

Local Amenities

  • Sunderland 0.4 miles
  • Seaham 4.7 miles
  • Hudson Road Primary School 0.1 miles
  • Valley Road Academy 0.5 miles

Local map of the area

Map and Street View Map showing location of property

Local Amenities

  • Sunderland 0.4 miles
  • Seaham 4.7 miles
  • Hudson Road Primary School 0.1 miles
  • Valley Road Academy 0.5 miles

Market stats

Sale activity

Average estimated value for a flat in SR1:

  • £117,725
  • Price increase

  • £2,773
  • (2.412%)
  • Over the last 12 months

In the last 12 months

  • Average sale price

    £68,383
  • Properties sold

    9

Rental opportunities

Looking for an investment? The average rent for a 4 bedroom flat in SR1 is currently:

£390 pcm

Recent sales nearby

See all recent sales in SR1
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Estimated running costs

Based on available 3rd party data

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The Agent

Price history

Sold prices provided by Land Registry
13th Sep 2019 £40,000 Price reduced by £5,000
5th Sep 2019 £45,000 Price reduced by £9,000
24th Jun 2019 £54,000 Price reduced by £6,000
26th Apr 2019 £60,000 Price reduced by £5,000
27th Mar 2019 £65,000 First listed

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Property descriptions and related information displayed on this page are marketing materials provided by Good Life Estate Agents Ltd. 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 Good Life Estate Agents Ltd for full details and further information.