Old Durham Road, Gateshead, NE8

An investment opportunity to acquire a self-contained two bedroom first floor flat currently occupied by a tenant wishing to remain, achieving a current rental income of £495 PCM (£5,940 per annum).

The flat forms part of a mixed-use investment with the ground floor commercial premises below also tenanted and currently achieving £460 PCM (£5,520 per annum), giving a combined rental income of approximately £955 PCM (£11,460 per annum). The owner's preference is to sell both properties together to the same investor with a combined asking price of £95,000.

The accommodation comprises a private entrance hallway with stairs to the first floor, landing, lounge/diner, kitchen, two bedrooms and a bathroom. The property benefits from gas combi central heating and uPVC double glazing. Externally there is access to a shared rear yard.

We understand the property is leasehold on a long lease believed to be 999 years, although buyers should seek confirmation from their solicitor. The property falls within Council Tax Band A and has an EPC Rating D (58).

Please note the ground floor commercial premises below (308 Old Durham Road) is also available for sale separately, although the owner's preference is to sell both properties together to the same investor if possible.

The property is situated within a selective licensing area and may appeal to landlords and investors seeking an income producing residential investment with tenant in situ.

HALLWAY & STAIRS

uPVC double glazed entrance door with matching window over, archway with sculpted corbels and stairs lead to the first floor.

LANDING

Loft access hatch, Positive Input Ventilation system installed to the ceiling, telephone point, cupboard housing the electric meter and doors to the lounge/diner, bedrooms and bathroom.

LOUNGE/DINER

4m x 5.88m

Storage cupboard, two uPVC double glazed windows, one single and one double radiator and a door to the kitchen.

KITCHEN

3.2m x 2.23m

Fitted with a range of wall and base units with contrasting laminate worktops and tiled splash-backs. Integrated electric oven/grill, electric hob and extractor canopy over. Wall mounted Baxi gas combi central heating boiler, stainless steel sink with mixer tap, plumbed for a washing machine, space for a fridge/freezer, uPVC double glazed window, single radiator and stairs leading down to a uPVC rear exit door.

BEDROOM 1 (TO THE FRONT)

4.06m x 3.62m

Fitted cupboards to alcoves, two uPVC double glazed windows, double radiator, telephone point, cornicing and a centre light rose.

BEDROOM 2 (TO THE FRONT)

2.36m x 2.28m

uPVC double glazed window and a single radiator.

BATHROOM

1.6m x 2.26m

A white suite featuring a panelled bath with electric shower over, tiled splash-back, curtain and rail Pedestal wash basin, WC, single radiator and a ceiling mounted extractor fan.

Yard

There is a large self-contained yard to the rear which is shared between the commercial premises and the residential flat.

Parking - On street

There are public parking bays to the front of the property.

Disclaimer

Whilst we endeavour to make our particulars accurate and reliable, they should not be relied on as a statement or representations of fact, and do not constitute any part of an offer or contract. The owner does not make or give, nor do we or our employees have authority to make or give any representation or warranty in relation to the property. We have not checked or tested any appliances mentioned (including heating systems or electrical fittings) therefore working order cannot be confirmed. All measurements are given to the nearest 5cm.