Semi-detached house for sale

Mersea Road, Colchester CO2

This is an excellent opportunity to purchase a well-managed investment property that has been continuously rented for 25 years. It currently generates a gross income of approximately £38,160 per year from 12 month student tenancies, resulting in a gross yield of 10.6%.

Description

This is an excellent opportunity to purchase a well-managed investment property that has been continuously rented for 25 years. It currently generates a gross income of approximately £38,160 per year from 12 month student tenancies, 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.

Location

The property is conveniently 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 Town railway station, which provides a fast and frequent service to London, taking approximately 46 minutes. The University is easily accessible via the bus (from Town railway station to the University, taking about 22 minutes) alternatively the Colchester Institute on Sheepen Road is in easy reach.

Outside And Gardens

To the rear of the property there is a small storage area with three parking bays beyond.

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.

Potential to extend.
Available to purchase as a furnished tenanted property.