Albany Street, Lincoln

INVESTMENT PROPERTY, 3 x 2 Bed Separate Dwellings, Recently Converted, FULLY LET UNTIL AUGUST 2025, Generating approx £45k gross pa, UPHILL LOCATION

Property Description - We are delighted to offer to the market an investment opportunity of 3 separate two bedroom properties situated in the popular Uphill area of Lincoln just off Burton Road. The properties are fully let until 2025 and are being sold fully furnished with all agreements in place. The properties are all situated within a gated courtyard and were completely refurbished in 2022 to include separate heating systems and utilities in each property. Situated on Albany Street which is in uphill Lincoln and close to a variety of shops and amenities and the Cathedral Quarter all within walking distance to the property. The properties all benefit from Gas Central Heating, uPVC double glazed windows, fully fitted kitchens and have an EPC Rating C.

Flat 26 - Situated to the front of the development with an entrance hall with stairs to the first floor and kitchen/lounge to the ground floor. The kitchen/lounge has a wall of fitted wall and floor fitted units with work surface over, gas hob, electric oven, sink with drainer, washing machine, fridge/freezer and extractor fan. The gas combi boiler is situated in a cupboard within the lounge area and a uPVC double glazed window to the front of the property and a wall mounted TV. To the first floor you will find a double bedroom with uPVC double glazed window to the front and also a separate shower room with shower unit, WC and wash hand basin. From the first floor landing is a door with stairs leading to the second floor where you will find a further double bedroom with two skylight velux windows. The property is to be sold fully furnished.
This two bedroom property is currently let for £260 per week (including bills) and is let agreed for 2024/2025 for £270 per week (including bills)

Flat 26a - Situated within the courtyard with the front door leading into the Kitchen/lounge. With fully fitted wall and base kitchen units with gas hob, electric oven, dishwasher, washing machine and fridge/freezer, to the lounge area is a wall mounted TV. Off the kitchen is a double bedroom with desk area, large walk in cupboard and double patio doors to the courtyard. To the first floor is a further double bedroom and a separate shower room with corner shower, WC and basin. The property is to be sold fully furnished.
This two bedroom property is currently let for £260 per week (including bills) and is let agreed for 2024/2025 for £270 per week (including bills)

Flat 26b - Situated to the rear of the courtyard and you enter into a generous sized entrance hall with stairs to the first floor and doors to all ground floor rooms. With a separate WC/Cloakroom of the entrance hall and door leading to the kitchen/dining room which has fitted wall and base units with work surface over, sink with drainer, gas hob, electric over, dishwasher, washing machine and fridge/freezer. There is also a table with benches. Off the entrance hall is a large lounge with wall mounted TV. To the first floor are two double bedrooms, one with an ensuite shower room with shower cubicle, WC and basin and the other bedroom with an ensuite bathroom with panel bath with shower over, WC and basin. This property is to be sold fully furnished.
This two bedroom property is currently let for £300 per week (including bills) and is let agreed for 2024/2025 for £310 per week (including bills)

Information for current bills paid by the Landlord -
Management fee 10% plus VAT of rent.
Gas and electric - £160 perm month for each flat
TV licenses once a year as well Internet is £38 each flat each month
Water - £76 per month for all 3 flats
All Flats Lincoln City Council Tax Band A

For further information please contact the office on .