3 bed block of flats for sale

Surrey Street, Lowestoft NR32

Presenting a prime investment opportunity in the heart of Lowestoft, this property features three separate flats, two with tenants in situ. This freehold opportunity presents a ** good yield potential ** and offers a convenient investment option. It's proximity to local amenities ensures tenant satisfaction, perfectly situated within walking distance to the town centre, this property promises both convenience and profitability for the savvy investor!

Location

This property is situated in the Heart of an English Coastal Town nestled in the most easterly point of the British Isles. With award-winning sandy beaches and breath-taking Victorian seafront gardens. Explore the Royal Plain Fountains, two piers, and a variety of independent eateries that will tantalise your taste buds. Education is a top priority here, with excellent schools for all ages. Commuting is a breeze with a bus station and train station that offer regular services to Norwich and surrounding areas. Located just 110 miles north-east of London, 38 miles north-east of Ipswich, and 22 miles south-east of Norwich.

Summary

Presenting a prime investment opportunity in the heart of Lowestoft, this property features three separate flats, each with tenants in situ. This freehold opportunity and presents good yield potential and it offers a convenient investment option. Off-road parking at the rear enhances the properties appeal, while its proximity to local amenities ensures tenant satisfaction. Perfectly situated within walking distance to the town centre, this property promises both convenience and profitability for the savvy investor.

Flat 1

Currently let £675pcm
Entrance hall

Vinyl flooring, electric heater, doors opening to sitting
room, bedroom, kitchen/diner, x2 under stairs storage
cupboards and courtyard.
Sitting room

5.2 x 3.3
UPVC double glazed window to front aspect, carpet
flooring, electric heater.
Bedroom

3.9 x 3.7
UPVC double glazed window to rear aspect, carpet
flooring, electric heater.
Kitchen/diner

4.1 x 3.3
UPVC double glazed window to side aspect, vinyl
flooring, electric heater, newly fitted kitchen with
units above and below, laminate work surfaces,
stainless steel sink with drainer, extractor fan,
integrated oven, 4 ring ceramic hob and space for
appliances including a fridge freezer. Door opening to
utility room.
Utility room

2.3 x 1.4
UPVC double glazed window to rear aspect, vinyl
flooring, doors opening to airing cupboard and
bathroom, space for washing machine.
Bathroom

2.3 x 1.5
UPVC double glazed window to side aspect, vinyl
flooring, heated towel rail, toilet, pedestal wash
basin, bath with handheld shower attachment.
Agent note

This apartment is situated on the ground floor of the
main building. Entry is via the communal entrance hall
located to the front aspect.

EPC rating:
Current 48E
Potential 48E

Flat 2

Currently let £550pcm
Entrance hall

Carpet flooring, electric heater, doors opening to
shower room, bedroom and rear hall leading to main
living area.
Shower room

2.2 x 1.4
UPVC double glazed window to side aspect, vinyl
flooring, heated towel rail, toilet, pedestal wash
basin, glass enclosed electric shower.
Bedroom

3.1 x 2.3
x2 UPVC double glazed windows to side aspect,
carpet flooring, electric heater.
Living area

3.3 x 3.2
UPVC double glazed window to rear aspect, vinyl
flooring, electric heater, newly fitted kitchen with
units above and below, laminate work surfaces,
stainless steel sink with drainer, extractor fan,
integrated oven, 4 ring ceramic hob and space for
appliances including a fridge and washing machine.
Agent note

This apartment is situated on the 1st floor of the main
building. Entry is via the communal entrance hall
located to the front aspect and up the first flight of
stairs.
EPC rating

Current 69C
Potential 69C

Flat 3

Currently let £695pcm
Entrance hall

Carpet flooring, doors opening to stairs leading to
second floor landing, under stairs storage cupboard
and main living area.

Bedroom 1
4.2 x 2.3
UPVC double glazed dormer window to front aspect,
carpet flooring.
Kitchen

3.9 x 1.6
UPVC double glazed window to rear aspect, vinyl
flooring, electric heater, newly fitted kitchen with
units above and below, part tile walls, laminate work
surfaces, stainless steel sink with drainer, extractor
fan, integrated oven, 4 ring ceramic hob and space for
appliances including a fridge and washing machine.
Opening to lounge/diner and door opening to shower
room.
Shower room

2.6 x 1.8
Vinyl flooring, heated towel rail, toilet, pedestal wash
basin, glass enclosed electric shower.
Lounge/diner

5.2 x 3.3
UPVC double glazed window to front aspect, carpet
flooring, electric heater, door opening to bedroom 2.

Bedroom 2
5.3 x 5.7
UPVC double glazed window to front aspect, carpet
flooring, electric heater.
Agent note

This apartment is situated on the 2nd floor of the
main building. Entry is via the communal entrance hall
located to the front aspect and up the first flight of
stairs.
EPC rating

Current 58D
Potential 58D

Agent Note

Each of these flats are currently tenanted, please be aware that the property details could be subject to change.

Total rent per year £23,040 (9.21% yield)

Financial Services

If you would like to know if you can afford this property and how much the monthly repayments would be, Paul Hubbard Estate Agents can offer you recommendations on financial/mortgage advisors, who will search for the best current deals for first time buyers, buy to let investors, upsizers and relocators. Call or email in today to arrange your free, no obligation quote.