£85,000

Studio for sale

  1.  Main Front Shoot.Png
  2.  2023 Oct 120 Park Rd Lounge.Jpeg
  3.  2023 Oct 120 Park Rd New Kitchen Laminate Flooring
Freehold

Offers in region of

£85,000

(£58/sq. ft)

Studio for sale

Park Road, South Moor, Stanley DH9

1,474 sq. ft
EPC rating: D
Tenure
Freehold
Council tax band
A

Local area information

Property location

Nearby amenities

  • South Stanley Junior School 0.3 miles
  • South Stanley Infant and Nursery School 0.3 miles
  • Chester-le-Street 5.1 miles
  • Dunston 6.5 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

  • Freehold
  • No Chain
  • Yield 8.18%
  • Monthly income £750
  • 1 x 1 Bed Ground Floor Apartment
  • 1 x 2 Bed Apartment first floor
  • Great Location
  • Close to A1 (M)
  • Tenant Occupied
****attention investors buy to let opportunity **** | Portfolio of 2 apartments with one title | 1x 2 Bed 1 x 1 Bed | 1 Bed apartment refurbished in August 2023 | Monthly income £750 | Gross initial yield 8.18 % | no chain |

Property Overview

**** attention investors **** portfolio sale of two apartments, one title ****

Genie Homes is pleased to present to the market a great investment opportunity- two tenanted apartment units on Park Road, Stanley. These apartments come with the added advantage of existing tenants.

Featuring electric storage heating and new double glazing throughout both apartments, the ground floor of the property includes an entrance hallway leading to a 1 bed apartment 120 Park Road, completely refurbished to a very high standard. This apartment comprises a carpeted hallway, front bedroom, lounge/diner, and a kitchen with access to the rear yard area.

On the first floor at 118 Park Road, there is a 2-bedroom apartment with a layout consisting of a spacious lounge, a master bedroom, an additional bedroom, family bathroom. The Kitchen provides access to the back yard via steps. The property boasts a small front garden surrounded by a wall and a private rear yard. Small refurbishment in August 2023. This investment is an excellent opportunity for those seeking a turn key investment with long term potential.

Refurbishment: Wall insulation and damp proofing,
New windows in each unit, New front and back doors & amp; New internal doors in 120 Flat,
fully replaced bathrooms & amp; Kitchens, Lino. Upgraded Electricity and upgraded Electric
heaters.

Apartment 120 Park Road:

Monthly income £425
Annual income £5,100
EPC D Until 30 August 2028
Council Tax A

Apartment 118 Park Road:

Monthly Income £ 325 ( Universal Credit Direct payment to the vendor)
Annual income £3,900
EPC E Until 30 August 2028
Council Tax A

Both units Monthly £750
Both units Annual £9,000

Buyers Fee And Reservation

This sale is subject to A 2% plus VAT buyers fee based on the agreed sale price at a minimum fee of £2500 plus VAT.

If you make an offer and it is accepted, a minimum of 50% of the fee is payable within 2 working days in order to take the property off the market.

The benefits of a buyers fee to the buyer are:
- Properties are advertised at a reasonable purchase price in order to encourage a quick sale.
- This approach allows you to secure the property and start the conveyancing process
quickly.
- Reservation of the property removes the element of competitive bidding and also the possibility of being
gazumped.
- The risk of the sale falling through is minimized on both sides, buyers are committed financially and vendors know that buyers are serious.
- All of these elements provide peace of mind from the outset, along with our personal and proactive approach.Genie Homes pride ourselves on our simple and secure buying process.

Please note: Should the property purchase not complete, the reservation fee will be refundable in only these circumstances;
1. The vendor has withdrawn from the sale
2. The vendor has not disclosed details regarding the property that affects mortgage / remortgage ability. (For example, unforeseen significant structural movement as indicated by a structural survey.)

Disclaimer

These particulars, whilst believed to be accurate are set out as a general guideline and do not constitute any part of an offer or contract. Intending Purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. Please note that we have not tested any apparatus, equipment, fixtures, fittings or services including gas central heating and so cannot verify they are in working order or fit for their purpose. Furthermore, Solicitors should confirm moveable items described in the sales particulars and, in fact, included in the sale since circumstances do change during the marketing or negotiations. Although we try to ensure accuracy, if measurements are used in this listing, they may be approximate. Therefore if intending Purchasers need accurate measurements to order carpeting or to ensure existing furniture will fit, they should take such measurements themselves. Photographs are reproduced general information and it must not be inferred that any item is included for sale with the property.
Tenure

Freehold
Possession

Tenanted
Viewing

Viewing strictly by appointment

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Floor plans and tours

Floor plans (2)

Floor plan 1
Floor plan 2

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Property descriptions and related information displayed on this page are marketing materials provided by - Genie Homes. 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 Genie Homes for full details and further information.

  1. Zoopla
  2. For sale
  3. County Durham
  4. Stanley
  5. South Moor
  6. Park Road

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