16 bedroom block of apartments for sale
St annes road, Cradley Heath, West Midlands, B64
- PROPERTY TYPE
Block of Apartments
- BEDROOMS
16
- SIZE
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- 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
- High Yielding Investment
- Freehold Block of 9 Apartments
- 10% + Yield
- 9 flats
- Good location
Description
An excellent opportunity to acquire a fully-let freehold block of nine self-contained residential flats, prominently positioned on the High Street in Cradley Heath, within easy reach of the train station, bus routes and local supermarkets.
Arranged over three storeys, the building comprises a mix of one- and two-bedroom units, each benefitting from separate council tax bands and individual utility meters. The property is sold with tenants in situ, providing an immediate and established income stream.
The block currently produces £69,600 per annum, with potential to increase to approximately £75,000 per annum over the next 12 months, offering an attractive gross yield of circa 9.6%.
All occupiers have been in residence for over five years and are considered long-standing and reliable tenants.
Key Features
* Freehold residential block
* Nine self-contained flats
* Mixture of one- and two-bedroom units
* Arranged over three floors
* Fully tenanted - sold with tenants in situ
* Separate council tax bands and individual meters
* Prominent High Street location
* Close to train station, bus station and local amenities
* Immediate income-producing investment
* Attractive gross yield of approximately 10% +
Tenancy Schedule
* Flat 1 - Studio - £550 pcm
* Flat 2 - One Bedroom - £600 pcm
* Flat 3 - One Bedroom - £650 pcm
* Flat 4 - Two Bedrooms - £675 pcm
* Flat 5 - One Bedroom - £700 pcm
* Flat 6 - One Bedroom plus Store - £700 pcm (store offers potential for conversion to additional bedroom, subject to consents)
* Flat 99A - Two Bedrooms - £725 pcm (with parking)
* Flat 99B - One Bedroom - £600 pcm (with parking)
* Flat 99C - One Bedroom - £600 pcm (with parking)
Total Rental Income: £5,800 pcm | £69,600 per annum
- 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.
- Yes
- GARDENA property has access to an outdoor space, which could be private or shared.
- Ask agent
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Energy performance certificate - ask agent
St annes road, Cradley Heath, West Midlands, B64
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Visit our security centre to find out moreDisclaimer - Property reference 455. 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 Hamilton Reeves, Nationwide. 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.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Hamilton Reeves, Nationwide on 01704 336346.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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