Block of flats for sale

Lowgate, Hull HU1

Property Brief
Block of 7 well-presented 1-bed leasehold apartments located in the heart of Hull's city centre. The apartments are situated on the second and third floor of the building, all comprising a living space, bedroom and modern kitchens/bathrooms throughout. The apartments have been specced to a good standard and the communals are also in good condition. No works required, making this a great opportunity for an investor looking for income on day one.

Rental Info
Current rents:
Apt 1 - £500 pcm
Apt 2 - £500 pcm
Apt 3 - £500 pcm
Apt 4 - £510 pcm
Apt 5 - £520 pcm
Apt 6 - £525 pcm
Apt 7 - £575 pcm

Total - £3,630 pcm (8.3% yield)

Ultralets currently manages all 7 apartments and can continue to do so upon completion.

Leasehold Info
No service charges apply however there is an annual ground rent of £100 per apartment. All apartments are on a 150 lease term starting from 4th March, 2008.

Compliance
Compliance documents are up to date for each apartment (including EICRs / EPCs) and all are registered as a council tax band A.

EPCs and apartment sizes are as follows:

Apt 1 - D (potential C) - 40 sq. M
Apt 2 - D (potential C) - 34 sq. M
Apt 3 - D (potential C) - 45 sq. M
Apt 4 - D (potential C) - 42 sq. M
Apt 5 - C (potential B) - 34 sq. M
Apt 6 - E (potential C) - 69 sq. M
Apt 7 - D (potential C) - 48 sq. M