13 East Road, Ferndale, South Glamorgan, Rhondda Cynon Taff, CF43
- PROPERTY TYPE
Block of Apartments
- BEDROOMS
8
- BATHROOMS
7
- SIZE
3,401 sq ft
316 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- 9.3% Gross Yield
- Immediate income generating
Description
The Area
This property is situated on a popular section of the main street in Tylorstown. Close to the villages of Ferndale and Porth, there is easy access to local shops, cafés and pubs. There is a convenience store located on the opposite side of the road and a major supermarket is under 2 minutes walking distance. Ystrad Rhondda train station is only a 5-minute drive away which provides direct trains into Cardiff. It is just a 13 minute drive to Pontypridd town centre and less than 20 minutes to Aberdare town centre, both of which boast many high-street shops. There are also well-respected schools only a few minutes? drive away.
The Property
The 7 flats, all contained within an attractive period building, are each let on standard 12-month Occupation Contracts (commencing on varying dates) producing a total annual income of £42,000.00 with scope for increase.
The current tenancy schedule is as follow:
Flat 1: Let at £500 PCM
Flat 2: Let at £525 PCM
Flat 3: Let at £525 PCM
Flat 4: Let at £525 PCM
Flat 5: Let at £450 PCM
Flat 6: Let at £525 PCM
Flat 7: Let at £450 PCM
Combined monthly rent: £3,500.00
Combined annual rent: £42,000.00
The price of £450,000.00 (VAT free investment) reflects 9.3% gross yield. As seasoned investors will appreciate, this is an excellent return which is so rarely offered on the open market.
The sellers have acted as their own tenant managers and applied their strict vetting process when tenant finding. Many of the tenants have been in occupation for a significant time and there are no arrears at this time. They are up-to-date with all legislation and copies of the EPC, Gas Safety Certificates, Electrical Certificates, Occupations Contracts, Guarantor Forms etc. will be provided to prospective buyers.
The property is currently held under 1 freehold title, although there may be scope for the buyer to transfer each flat onto distinct leasehold titles and sell them separately (this can be discussed with your solicitor if it is something you may be interested in).
Management Services
Property Partners run a successful agency and management company and offer the buyer preferential rates if they wish for Property Partners to continue managing the tenants in the flats. Please contact us about this directly.
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Ask agent
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
- Communal garden
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent
13 East Road, Ferndale, South Glamorgan, Rhondda Cynon Taff, CF43
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Visit our security centre to find out moreDisclaimer - Property reference 13eastroad. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Property Partners Estate Agents Limited, Cardiff. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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