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Hartington Street, Derby, Derbyshire, DE23 8EB

PROPERTY TYPE

Terraced

BEDROOMS

8

BATHROOMS

7

SIZE

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TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Freehold

Floorplan 1Floorplan 2
5

Key features

  • ATTENTION INVESTORS - Block Of Seven Self Contained Apartments With Healthy Income
  • Current Gross Income Per Annum Circa £44,000; Potential Gross Yield Of 11.28%
  • Immediate Income Upon Completion
  • Seven Fully Occupied Apartments Comprising Of Five One Bed's, One Two Bed And Studio
  • All With Separate Meters, EPC's And Fuse Boards. All Units Council Tax Band A
  • Potential For Rent Increase's And Cosmetic Uplifts / Capital Gains
  • Ideally Situated In High Rental Demand Area
  • Close To Local Travel Routes And Amenities
  • Sizeable Outdoor Space To Rear Of Bottom Floor Rear Aspect Apartment
  • Spacious Throughout With Charming Features

Description

ATTENTION INVESTORS: Presenting a rare and highly lucrative investment opportunity in Derby, this substantial block comprises seven self-contained apartments, currently generating a healthy gross income of approximately £44,000 per annum. This impressive income stream translates to a potential gross yield of 11.28% based on the 'Offers Over' asking price of £395,000, offering immediate returns upon completion.

The property consists of seven fully occupied units, providing a diverse portfolio of rental accommodation. This includes five well-appointed one-bedroom apartments, with separate lounge's, kitchen's and bathrooms. A spacious two-bedroom apartment, and a comfortable studio apartment. Each unit benefits from its own separate meters, EPCs, and fuse boards, ensuring efficient management and tenant accountability. This level of individualisation is a significant advantage for both landlords and residents.

There is considerable potential for future rent increases and cosmetic uplifts, which could further enhance capital gains and overall yield. The apartments are generally spacious throughout and retain charming features, adding to their appeal for tenants. The current occupancy rate underscores the desirability of these units within the local rental market.

Strategically situated in a high rental demand area of Derby, the property benefits from excellent connectivity to local travel routes and a wide array of amenities. This prime location ensures a consistent pool of prospective tenants, minimising vacancy periods and maximising rental income. Residents will appreciate the convenience of nearby shops, services, and transport links, making daily life effortless.

Furthermore, one of the bottom floor rear aspect apartments boasts a sizeable outdoor space to the rear, a valuable amenity that enhances its appeal and potential rental value. This outdoor area provides a private retreat for residents, a feature often sought after in urban living.

This investment offers a robust and diversified income stream from multiple units, reducing risk compared to single-let properties. The established tenancy base and the property's strong fundamentals make it an attractive proposition for both seasoned investors and those looking to expand their portfolio. With its immediate income generation, significant yield potential, and scope for future growth, this Derby apartment block represents a compelling acquisition in the current market. Early viewing is highly recommended to fully appreciate the scale and potential of this outstanding investment.
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.
Band: A
PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
Permit
GARDENA property has access to an outdoor space, which could be private or shared.
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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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Hartington Street, Derby, Derbyshire, DE23 8EB

Approximate location
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Affordability

Monthly repayments£1,913
Property: £ 395,000
Deposit: £ 39,500
Interest rate: 5.02%
Term: 30 years
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Extension potential
Recently sold & under offer
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About Cope & Co, Derby

Canterbury House, Stephensons Way, Derby, DE21 6LY
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We are a team of passionate property people on a mission to be a new breed of estate agent in your area.

At Cope & Co., we intertwine the strength of family values with professional expertise to guide every client towards their home and property objectives.

We pledge to understanding each client's individual journey and ensure that every step is personal, proficient, efficient and in harmony with their goals.

A new home is far more than just money, bricks and mortar. It's a place to call your own and create unforgettable memories. It's an opportunity for growth and independence. It's a way of starting a new chapter, planning for the future, and building the life you want to live.

We are a friendly team of local property experts, selling and letting homes across the whole of Derbyshire and East Staffordshire. Our goal is to provide a first-class service and to offer a personal and proactive approach that we believe is paramount to helping our customers achieve property success.

When you buy, sell, let or rent through Cope & Co, you'll be working with professionals who understand the true value and importance of a home. We will support you at every stage of your property journey to help you achieve your individual objectives.

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Disclaimer - Property reference PRF_DRB_LFSYCL_575_764525557. 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 Cope & Co, Derby. 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.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.

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