£460,000
Mansfield Road, Nottingham, NG5
- 6 beds
£460,000
- 6 beds
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Liberty Gate are happy to offer for sale this investment opportunity formed of Six independent studio or One Bedroom apartments.
The property is let and generating ?3100pcm currently with one room vacant for renovation.
Introduction
Liberty Gate are happy to offer for sale this semi-detached property consisting of Six independent studio/one bedroom apartments in the popular area of Carrington.The property is currently majority occupied and generating ?3100pcm with one apartment vacant for renovation.
Overview
The property positioned in the popular area of Carrington with the City Centre a short walk away and amenities provided via Carrington, Sherwood and the City being plentiful and close by.The property having been converted from a victorian semi-detached home has retained an amount of its original features including the etched glass entrance doors and Minton style flooring, along with a range of feature fireplaces throughout the property.The building has parking to the front and back and is suitable for around 5-6 vehicles.The building overall is in need of some work but presents a ready made tenanted investment.EPC Rating are as follows;Flat 1, 322, Mansfield Road, NOTTINGHAM, NG5 2EFE21 August 2028Flat 3, 322, Mansfield Road, NOTTINGHAM, NG5 2EFE21 August 2028Flat 4, 322, Mansfield Road, NOTTINGHAM, NG5 2EFC21 August 2028Flat 6, 322, Mansfield Road, NOTTINGHAM, NG5 2EFD21 August 2028Flat 7, 322, Mansfield Road, NOTTINGHAM, NG5 2EFD21 August 2028Flat 8, 322, Mansfield Road, NOTTINGHAM, NG5 2EFD8 March 2030
Return on Investment
Five of the Six apartments are currently tenanted with a monthly income of ?3100 being generated via the following;1- ?650 pcm 3- ?600 pcm 4- ?650 pcm 6- ?550 pcm 7- empty for refurbishment but expected ?600pcm 8- ?650 pcmThe bills are not inclusive in the current tenancies so are covered for the occupied properties by the tenants.As the property is offered as a freehold there are no ground rent or standard service charges to consider, meaning an estimated 9.8% Gross return.
Location
The property is located in the extremely popular area of Carrington.Positioned between Sherwood, Mapperley Park and Nottingham City Centre the property is ideally located within easy reach of a plethora of amenities including supermarkets, restaurants, shops and bars as well as being on a main public transport route into the City.
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