1 Bedroom Ground Floor Flat For Sale in Gateshead, NE11
| Price | £ 45,000 |
| Reference | 54095 |
| Address |
Wellington Road, Gateshead, NE11 (Map Location) |
| Beds | 1 |
| Baths | 1 |
| Type | Ground floor flat |
| Tenure | Freehold |
LANDLORD INVESTMENT – 15% CURRENT GROSS YIELD. Tenanted property generating £500 PCM / £6,000 PA, OIEO £39,999. Estimated market rent £595 PCM, which would represent a potential gross yield of approximately 17.85%. Tenant in situ. Comparable 1 Bed - 0.4 of a mile away - £85K Asking
Description
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 being offered at £39,999. For local market context, a one-bedroom freehold property on nearby Clavering Square, Dunston, is currently being marketed on Rightmove at £85,000. This represents a £45,001 difference between the two asking prices. The comparable property is a one-bedroom terraced house rather than a flat, so purchasers should make their own assessment of comparable values and undertake their own due diligence.
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.
View the EPC for this property