4 bed terraced house for sale

Cranbourne Terrace, Stockton-On-Tees TS18

Summary

Investment Opportunity - Four Self-Contained Flats - For Sale by Auction

An excellent opportunity to acquire a substantial terraced property that has been converted into four self-contained one-bedroom flats, offering immediate income and future rental growth potential.

The property comprises four well-proportioned one-bedroom apartments, each benefiting from independent living accommodation. Two of the four flats are currently let, generating a combined rental income of approximately 1,050 per calendar month at the time of marketing; however, prospective purchasers should note that this income is not guaranteed and may be subject to change. The remaining two vacant flats offer scope to increase the overall rental income upon occupation.

Situated within a popular residential location with convenient access to local amenities, transport links and employment centres, the property represents an attractive proposition for landlords, investors and portfolio builders alike.

The existing tenancies provide an established income stream from completion, while the vacant units present an opportunity to enhance overall rental returns and maximise the property's investment potential.

Early viewing is recommended to appreciate the investment opportunity on offer.

Council Tax Band: A
Tenure: Freehold

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.