Glenarm Road, Lower Clapton, E5

SUBSTANTIAL VICTORIAN INVESTMENT PROPERTY OR CASH BUYER END USER TO CONVERT INTO FAMILY HOME | APPROX. 1,763 SQ FT | TWO SELF-CONTAINED GROUND FLOOR UNITS | FOUR ADDITIONAL ROOM LETS | FOUR KITCHENS | FOUR BATHROOMS | PRIVATE GARDEN | SOLD WITH TENANTS IN SITU | BRILLINT CONDITION WITH NEW ELECTRICS | INVESTORS / CASH BUYERS / SPECIALIST FINANCE ONLY | CHAIN FREE...

Bigmove are delighted to present this substantial Victorian investment property, ideally positioned on the highly desirable Glenarm Road, E5, moments from the ever-popular Chatsworth Road.

Offering approximately 1,763 sq ft / 163.8 sq m of internal accommodation arranged across three floors, the property is currently configured to provide a combination of self-contained accommodation and individual room lets, creating an established income-producing investment.

The ground floor is arranged as two separate self-contained units.

The first is an impressive super studio, comprising a spacious reception / bedroom area, separate private kitchen, private bathroom and useful storage cupboard. This unit also benefits from the sole use of the rear garden, providing a particularly attractive feature for tenants.

Also positioned on the ground floor is a separate one-bedroom flat, offering its own private bedroom, living accommodation, private kitchen and private bathroom, creating a completely self-contained unit.

The first floor is arranged as two individual room lets, with two bedrooms sharing their own kitchen and bathroom facilities on that floor.

The second floor provides a further two room lets, again comprising two bedrooms with their own shared kitchen and bathroom facilities.

In total, the existing configuration therefore provides two self-contained ground-floor units together with four additional room lets across the first and second floors, with four kitchens and four bathrooms throughout the building.

There is also a useful outhouse, great as an office, gym, art studio or games room at the rear of the garden, with sole access given to the self-contained rear apartment.

Despite its current investment configuration, the property retains an abundance of its original Victorian character, including high ceilings, fireplaces, decorative cornicing, shutters and excellent traditional proportions. The condition is great, with newly installed kitchens, floorings and general refurbishments, including a brand new rewire and a Megaflow system around 8 years ago.

The house also benefits from a cellar providing additional storage, a private rear garden and further potential for alteration or extension, subject to the relevant planning permissions, licensing requirements and building regulations.

The location is another major selling point. Glenarm Road sits just moments from Chatsworth Road, offering an excellent selection of independent cafés, restaurants, pubs, shops and its popular market. The open spaces of Hackney Marshes and the Lea Valley are also within easy reach, providing miles of walking, running and cycling routes.

Transport connections are excellent, with Homerton, Hackney Central and Hackney Downs all accessible, providing convenient connections across East London, the City and Central London.

The property is being sold with the existing tenants in situ and is therefore being marketed specifically towards investors and cash buyers.

Offering over 1,750 sq ft of accommodation, six existing lettable rooms/units, four kitchens, four bathrooms and an established rental income, this is a particularly interesting investment opportunity in one of Hackneys most popular residential locations.

CHAIN FREE | SOLD WITH TENANTS IN SITU | INVESTORS / CASH BUYERS ONLY | END USERS WANTING TO PUT BACK INTO A FAMILY HOME IS POSSIBLE, BUT SPECIALIST FINANCE OR CASH WOULD BE REQUIRED.

INVESTMENT INFORMATION:

Current rental income: £72,000 per annum — 6.0% gross yield based on a £1.2m purchase price.

Potential rental income: £85,000 per annum — 7.1% gross yield based on a £1.2m purchase price.

Tenants are responsible for their own utility bills.

Freehold.