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£900,000

Old Road, Clacton on Sea

  • 13 beds
Flat

£900,000

  • 13 beds
Flat
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Estimate monthly mortgage payment:

£3,117 per month

Minimum deposit amount:

£45,000
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BUY TO LET INVESTMENT OPPORTUNITY! A chance to acquire a fully let portfolio comprising 10 apartments. Being a mixture of studio, 1 and 2 bedroom properties generating an annual income of ?63,000, returning approximately a 7% yield. Ideally located within easy reach of nearby town centre, amenities and seafront, the management is currently with Stoneridge Estates and therefore an undisturbed take over would be achievable.

COVID-19 - Viewing Advice
COVID-19. We ask that a safe social distance of six feet / two meters is kept between viewers, vendors and the agent at all times. Where this is not possible all parties must wear a face mask. Please ensure you arrive with hand sanitiser and that this is used before and after each viewing. Please not touch any surfaces, door handles or light switches within the property. We also encourage that any in depth or lengthy conversations take place outside the property and that viewings are limited to twenty minutes per property.

The 10 apartments are divided as follows:-

- 83 Old Road (studio) = ?350 PCM
- 83a Old Road (1 bed) = ?550 PCM
- 83b Old Road (1 bed) = ?500 PCM
- 85a Old Road (2 bed split level) = ?600 PCM
- 87a Old Road (2 bed split level) = ?575 PCM
- 97b Old Road (1 bed) = ?525 PCM
- 89a Old Road (2 bed) = ?525 PCM
- 2a Castle Road (studio) = ?500 PCM
- 2f Castle Road (1 bed) = ?525 PCM
- 2g Castle Road (1 bed) = ?600 PCM

AGENTS NOTE
For further information or to arrange a viewing please contact a member of our sales team on 01255 43 58 58.

Consumer Protection from Unfair Trading Regulations 2008.
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are not included unless specifically mentioned within the sales particulars. We can also not confirm that such items are within the ownership of the seller. They may however be available by separate negotiation. Floorplans are for guidance purposes only and therefore not to scale. The agent has assumed relevant planning permissions are in place for any alterations the property has undergone and it is the responsibility of the seller to confirm this via their solicitor.

Money Laundering Regulations 2003 - Any prospective purchasers' will be asked to produce photographic identification and proof of residential documentation once entering into negotiations for a property in order for us to comply with current Legislation.


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Stamp Duty tax
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Mortgage and legal costs:
£999
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Property details

£900,000

13 bed flat for sale

Old Road, Clacton on Sea
BUY TO LET INVESTMENT OPPORTUNITY! A chance to acquire a fully let portfolio comprising 10 apartments. Being a mixture of studio, 1 and 2 bedroom properties generating an annual income of ?63,000, returning approximately a 7% yield. Ideally located within easy reach of nearby town centre, amenities and seafront, the management is currently with Stoneridge Estates and therefore an undisturbed take over would be achievable.

COVID-19 - Viewing Advice
COVID-19. We ask that a safe social distance of six feet / two meters is kept between viewers, vendors and the agent at all times. Where this is not possible all parties must wear a face mask. Please ensure you arrive with hand sanitiser and that this is used before and after each viewing. Please not touch any surfaces, door handles or light switches within the property. We also encourage that any in depth or lengthy conversations take place outside the property and that viewings are limited to twenty minutes per property.

The 10 apartments are divided as follows:-

- 83 Old Road (studio) = ?350 PCM
- 83a Old Road (1 bed) = ?550 PCM
- 83b Old Road (1 bed) = ?500 PCM
- 85a Old Road (2 bed split level) = ?600 PCM
- 87a Old Road (2 bed split level) = ?575 PCM
- 97b Old Road (1 bed) = ?525 PCM
- 89a Old Road (2 bed) = ?525 PCM
- 2a Castle Road (studio) = ?500 PCM
- 2f Castle Road (1 bed) = ?525 PCM
- 2g Castle Road (1 bed) = ?600 PCM

AGENTS NOTE
For further information or to arrange a viewing please contact a member of our sales team on 01255 43 58 58.

Consumer Protection from Unfair Trading Regulations 2008.
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are not included unless specifically mentioned within the sales particulars. We can also not confirm that such items are within the ownership of the seller. They may however be available by separate negotiation. Floorplans are for guidance purposes only and therefore not to scale. The agent has assumed relevant planning permissions are in place for any alterations the property has undergone and it is the responsibility of the seller to confirm this via their solicitor.

Money Laundering Regulations 2003 - Any prospective purchasers' will be asked to produce photographic identification and proof of residential documentation once entering into negotiations for a property in order for us to comply with current Legislation.