3 Bedroom End Terraced House For Sale in Bishop Auckland, DL14
| Price | £ 55,000 |
| Reference | 54097 |
| Address |
Bell Street, Bishop Auckland, DL14 (Map Location) |
| Beds | 3 |
| Baths | 1 |
| Type | End terraced house |
| Tenure | Freehold |
INVESTOR OPPORTUNITY – Tenanted 3-bedroom end-terrace offered at OIEO -£55,000, producing £550 PCM and a 12% gross yield. Current rent is below the stated market rent of £595 PCM, offering potential for circa 13% gross yield. Online valuation estimate of £82,000 indicates a 32.9% discount to stated market value. Freehold with tenant already in situ.
Description
1 Bell Street Bishop Auckland DL14 6BA
Offers in the Region of £55,000
Three Bedroom End Terrace with Garage and Sitting Tenant Offering a 12 Percent Gross Rental Yield
An excellent opportunity for property investors to acquire a substantial three bedroom end terrace property in Bishop Auckland with an existing tenant in occupation and rental income already established.
Offered for sale at £55,000 the property currently generates £550 per calendar month representing an attractive gross rental yield of 12 percent based on the asking price.
The property also benefits from a garage gas central heating and freehold tenure making it an appealing addition to an established or growing buy to let portfolio.
The current rental income equates to £6,600 per annum with an estimated market rental value of £595 per calendar month potentially increasing the gross rental yield to approximately 13 percent subject to the existing tenancy and applicable legislation.
Located in Bishop Auckland the property is positioned within a town benefiting from significant regeneration and investment providing an established residential setting for long term rental accommodation.
The property has an Energy Performance Certificate rating of D and falls within Council Tax Band A.
For investors seeking an income producing property with an existing tenant and the potential for future rental growth this represents an opportunity worthy of consideration.
Please contact Sell with AMRP for further information and to discuss the property and purchasing arrangements.
Key Features
Three Bedroom End Terrace Property
Offers in the Region of £55,000
Existing Tenant in Occupation
Current Rental Income of £550 Per Calendar Month
Gross Rental Yield of 12 Percent
Potential Gross Rental Yield of Approximately 13 Percent at Estimated Market Rent
Garage Included
Freehold Tenure
Gas Central Heating
Council Tax Band A
EPC Rating D
Established Residential Investment Location
Important Information
The property is being sold with a tenant in occupation and is therefore particularly suited to buy to let investors.
An additional property sourcing fee of £2,500 is payable in connection with the purchase comprising £60 for buyer verification checks and £2,440 payable on completion.
Rental yields are gross calculations based on the stated asking price and exclude management fees maintenance costs void periods taxation and other ownership expenses.
The property is situated within an area requiring selective landlord licensing and prospective purchasers should make their own enquiries regarding licensing requirements.
View the EPC for this property