3 bed block of flats for sale

Park Road, Netherton, Dudley DY2

Property Description

ideal investment opportunity
A refurbished and extended mid-terrace property, originally a two-bedroom house, now converted into three self-contained studio flats. Two flats are located on the ground floor, with the largest flat occupying the first floor.

The property is conveniently situated within easy reach of Merry Hill Intu Shopping Centre and Russells Hall Hospital, making it an attractive option for tenants.

Each flat is currently let and briefly comprises an open-plan living/kitchen area, a shower room, and a double bedroom and the property generates a total annual rental income of £23,100 per annum.

Property Details
Approach
Steps lead to the main front entrance, with additional side access providing entry to Flats 121A and 121B, Park Road.

121 Park Road (Ground Floor Flat)
A refurbished, self-contained ground floor studio flat comprising an open-plan living/kitchen area, shower room, and double bedroom. The flat benefits from electric heating, with water rates included in the rental price.EPC Rating: EAnnual Rental Income: £7,200 per annum

121A Park Road (First Floor Flat)
A refurbished, self-contained first floor studio flat offering an open-plan living/kitchen area, shower room, and double bedroom. Electric heating is installed throughout, with water rates included in the rental price.EPC Rating: DAnnual Rental Income: £8,400 per annum

121B Park Road (Ground Floor Flat)
A refurbished, self-contained ground floor studio flat comprising an open-plan living/kitchen area, shower room, and double bedroom. The property benefits from gas central heating, with water rates included in the rental price.EPC Rating: CAnnual Rental Income: £7,500 per annum

Communal Courtyard
A well-maintained communal courtyard is located to the rear of the property.

Material Information

Tenure

We understand that the property is freehold. You should ask your legal adviser to verify this.

Services

We understand that the property is connected to mains electricity, gas, water and drainage. The central heating system is gas. This should be verified by your legal adviser and/or surveyor. We have not conducted any tests of these services.

Council Tax

Council Tax Band: A

Local Authority: Dudley mbc

EPC Rating

E (45) D (55) C (71)

Broadband

According to Ofcom, there is standard, superfast and ultrafast broadband available in the area.

Mobile Signal / Coverage

According to Ofcom, mobile coverage is available on all four main networks (EE, Three, O2 and Vodafone).

Restrictions and Rights

We are not aware of any restrictions. This should be verified by your legal adviser.

Flood Risk

According to the Environment Agency and Lead Local Flood Authorities, the property is not in an area that is vulnerable to flooding.

Coal Mining

The property is in an historic mining area. We are not aware of any issues affecting the property.

Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

It is a legal requirement for estate agency businesses to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. To do this, we must undertake robust biometric id verification, pep and sanctions checks on any successful purchasers upon offer acceptance. The cost of this service is £30.00 per individually named purchaser. This cost is non-refundable and is paid to our third-party supplier by the successful purchaser. The check must be completed and recorded as satisfactory before issuing sale notifications.

Referral Fees

Please visit our website for details of referral fees that we may receive from our referral partners