Lot 35 - 25 Ferry Road, Cardiff, South Glamorgan, CF11 7DW

Description

ONLINE AUCTION from 6th - 8th October

An excellent opportunity to acquire a fully let block comprising four self contained one bedroom flats, currently producing a combined rental income of approximately £35,340 per annum.

The property comprises four one bedroom apartments, each benefiting from a shower room and open plan lounge kitchen, providing practical and easily lettable accommodation.

The three flats within the main building are accessed via a communal hallway and are all presented in good condition with establish tenants. The lower ground apartment benefits from its own private entrance with access to a rear garden and is occupied by a long standing tenant, although the flat does offer some scope for improvement.

The property has been well maintained with fire doors and fire alarm systems throughout, while all four flats have EPC ratings of C, offering good energy efficiency for tenants. Electrical certificates are also in place.

With all four apartments currently occupied, the property provides an established rental income from completion, whilst also offering potential to increase rents, providing an opportunity for future income growth.

At the current guide price, the annual income represents an attractive gross yield of approximately 13%, making this an appealing proposition for landlords and investors seeking a strong income producing asset.

Located in Grangetown, Cardiff, the property is conveniently positioned for Cardiff city centre, Cardiff Bay and a range of local amenities, shops and leisure facilities. The location provides good access to the A4232 and wider Cardiff road network, with Cardiff Central and Grangetown rail stations providing further transport links.

Accommodation

Lower Ground Floor: Access to Meters,
Flat A: Entrance, WC, Lounge kitchen bedroom shower rear enclosed garden.
Ground Floor: Communal Entrance, Access to flats
Flat B: Lounge Kitchen, Bedroom, Shower, WC
Flat C:Lounge Kitchen, Shower, WC, Bedroom
Flat D:Lounge Kitchen, stairs up to mezzanine level, Shower room, Bedroom

Council Tax Band

B

Accommodation

This property is to be sold with tenants in situ;

Tenancies

INVESTORS: If you are looking for assistance in tenant find and/or management packages, information on rental income/interest potential we have a Lettings Department that can help you. Please call us or email lettings@paulfoshlettings.com for invaluable advice.

Tenure

Advised Freehold - to be verified by solicitor

Auction Fees And Additional Costs

Auction fees: The sale of each lot is subject to a buyer’s premium/admin fee of 1.5% of the purchase price (subject to a minimum of £1,500 for sale prices between £1 and £50,000 or subject to a minimum of £2,400 for sale prices of £50,001 upwards) including VAT unless otherwise stated.

Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.