1 bed flat for sale

Wellington Road, Gateshead NE11

Property number 54095. Enquire through Zoopla's messaging system and we'll respond within 5 minutes, 24/7

landlord investment opportunity – tenant in situ – 15% current gross yield

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An income-producing one-bedroom ground-floor flat in Dunston, Gateshead, offered for sale at £39,999 with an existing tenant in situ.

For landlords, the key attraction is the current rental return. The property is presently generating £500 per calendar month, equivalent to £6,000 per annum and a current gross yield of approximately 15% based on the asking price.

The supplied estimated market rent is £595 pcm, representing potential additional rental income of £95 per month / £1,140 per annum. If £595 pcm were achieved, this would equate to annual rent of £7,140 and a potential gross yield of approximately 17.85% at the asking price. The £595 pcm figure is an estimated market rent and is not the rent currently being received.

The property is also being offered substantially below the stated online valuation supplied by the seller. The stated online market valuation is £72,000, compared with an asking price of £39,999 - a difference of £32,001, or approximately 44.4%. Buyers should note that this figure is based on the supplied online valuation rather than an independent formal valuation.

The existing tenant is stated to have occupied the property for approximately 10 years, making this particularly relevant to landlords looking for an established tenanted investment rather than a vacant property requiring a new tenant from completion.
Investment figures at A glance


Asking Price: £39,999

Current Rent: £500 pcm

Current Annual Rent: £6,000

Current Gross Yield: Approx. 15%

Estimated Market Rent: £595 pcm

Potential Annual Rent: £7,140

Potential Gross Yield: Approx. 17.85%

Difference to Stated £72,000 Online Valuation: £32,001 / approx. 44.4%

Tenancy Status: Tenant in situ

The property comprises a one-bedroom, one-bathroom ground-floor flat with its own entrance, private garden and garage, according to the information supplied. The tenure is stated as freehold, with gas heating and Council Tax Band A.

The EPC is rated D (64) with potential C (71) and an expiry date of 19 April 2036.

This opportunity may particularly appeal to landlords prioritising existing rental income, high gross yield and scope for potential rental uplift, subject to the purchaser's own due diligence.