4 bed block of flats for sale

Mersea Road, Colchester CO2

An excellent opportunity to purchase a freehold house currently converted into four apartments, let out until May 2026 on an AST, generating a gross income of approximately £38,160 per year, resulting in a gross yield of 10.6%. This is a well-managed investment property that has been continuously rented for 25 years being sold due to the owners retirement.

Description

This is an excellent opportunity to purchase a well-managed investment property that has been continuously rented for 25 years. The property consists of four apartments currently let out on AST's until the end of May 2026, generating a gross income of £38,160 per year, resulting in a gross yield of 10.6%.

The property features accommodation spread over three floors: The ground floor consists of a one bedroom flat with a living room/kitchen and bathroom. A studio apartment with living room/bedroom, a kitchen and bathroom. The first floor has a one bedroom flat with kitchen, living room and bathroom. The second floor contains a further one bedroom flat, with a living room kitchen and bathroom. There is also three off street parking spaces to the rear accessed from Fairfax Road.

Location

The property is conveniently and centrally located near the city centre of Colchester, where you can find a variety of shops, restaurants, and numerous amenities. It is also close to the City centre railway station with links to Colchester North station, which provides a fast and frequent service to Chelmsford (17 minutes) and London, taking approximately 47 minutes. The University is also easily accessible via the bus (from the city centre bus station in Osborne Street to the University, taking about 22 minutes) alternatively the Colchester Institute on Sheepen Road is in easy reach.

Flat 1

Kitchen/Living Room (4.70m x 3.23m (15'5 x 10'7))

Window to front.

Bedroom (3.40m x 2.77m (11'2 x 9'1))

Window to side.

Bathroom

Panelled bath, wash basin and wc

Flat 2

Kitchen (2.46m x 2.08m (8'1 x 6'10))

Window to side

Living/Bedroom (4.65m x 2.62m (15'3 x 8'7))

Window to front

Bathroom (2.41m x 2.64m (7'11 x 8'8))

Window to side, panelled bath, wash basin and wc.

Flat 3

Hall

Doors to bedroom and living room

Living Room (3.45m x 3.28m (11'4 x 10'9))

Window to front.

Kitchen (2.59m x 1.93m (8'6 x 6'4))

Window to side

Bathroom

Window to side, panelled bath, wash basin and wc

Bedroom (4.62m x 3.40m (15'2 x 11'2))

Window to side

Flat 4

Hall

Doors to Lounge, bedroom and bathroom.

Living Room (3.45m x 3.15m (11'4 x 10'4))

Window to front.

Bedroom (4.11m x 3.56m (13'6 x 11'8))

Window to side

Kitchen (3.43m x 2.21m (11'3 x 7'3))

Window to side

Bathroom

Window to side, panelled bath, wash basin and wc.

Outside And Gardens

To the rear of the property there is a small storage area with three parking bays accessed from Fairfax Road.

Agents Note

Services: Mains water, electricity, gas and drainage are connected to the property. Each flat has its own gas boiler providing central heating.
Tenure: Freehold
Local Authority: Colchester City Council
Council Tax: Flat 1 A, Flat 2 A, Flat 3 A. Flat 4 A
EPC: Flat 1, Band C, Flat 2, Band D, Flat 3, Band C, Flat 4, Band C.

Available to purchase as a furnished tenanted property.