5 bed property for sale

Station Road, Merstham, Surrey RH1

Freehold House split into 5 self-contained Flats and planning approved for an adjacent Detached Bungalow.
Plot can be sold separately for £90,000
Current Income £24,600 pa.
3 flats sold on long leases. -Flats 1,4 & 5 sold on long leases Ground Rent - £1,100 pa.
2 flats let on ASTs. - Flat 2 (1 bed) & Flat 3 (studio) currently let for £23,500 pa.
Ample parking
Communal garden
Adjacent Building Plot with Planning Permission for a detached bungalow.

Freehold property including three leasehold flats and two owned and let flats

Flat 1

Lease 166 years from 1989. Ground rent £150 pa. Ground Floor

Flat 2

Lease 125 years from 2010. Let £1,095 pcm. Ground rent £400 pa. Ground Floor with patio

Flat 3

Held within freehold Let £875 pcm. 1st Floor

Flat 4

Lease 172 years from 2023. Ground rent £150 pa. 1st Floor

Flat 5

Lease 125 years from 2010. Ground rent £400 pa. 2nd Floor

Position:

Opposite Merstham train station and 100 yards from bus routes and local shops. Accessible to Victoria, Gatwick, Redhill, Croydon etc.

Notes:

Flat 3
Flat 2
Building Plot
Landlord Insures.
Maintenance Budget 25/3/2025 – 24/3/26 £3,380

Nb:

These details do not form part of any contract and are for guidance only.