4 bed block of flats for sale

St. Peters Road, Margate CT9

Please Quote Ref: JJ1194

Located on St. Peters Road, Margate, this freehold block of flats is currently arranged as four flats and is now being offered to the market as a fantastic investment opportunity, currently offering a rental yield of in excess of 7%. All four flats currently have tenants in situ, so this would make an ideal turnkey investment.

The property is within easy reach of Margate Town Centre and coast. Situated near The qeqm Hospital (0.6 miles) and Margate Train Station (0.9 miles), the property is also within walking distance of Margate High Street (0.3 miles), sandy beaches, and amenities.

The property has been converted into 4 self-contained flats with a 1 bedroom lower ground floor flat with courtyard garden, ground floor studio flat with courtyard garden, a 1 bedroom flat on the first floor with a separate storage, which could be used as study or extra reception room, and a further 1 bedroom flat on the second floor with loft access, which could be converted into a further bedroom, subject to building notice approval.

To the side of the property there is potential to extend the existing accommodation or further development (subject to planning permission and necessary consents). The current yearly rental income is £33,720 and has the potential to be reviewed and increased. No Onward Chain.