Costa Street, Middlesbrough
- PROPERTY TYPE
Terraced
- BEDROOMS
3
- BATHROOMS
1
- 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
- Tenant in Situ Paying £750 PCM
- 9.7% Gross Yield at Asking Price
- Potential 10.6% Gross Yield
- Previously Operated as a 4-Bed HMO
- Freehold Asset with Low Entry Price
- Multiple Exit Strategies and Rental Upside
Description
Pure Investor is delighted to present this three-bedroom mid-terraced freehold investment property in Middlesbrough, offered with a long-standing tenant in situ and generating an immediate rental income of £750 PCM (£9,000 per annum).
Priced at just £93,000, the property currently delivers a strong gross yield of 9.7%, making it an attractive addition to an investment portfolio. There is also potential to increase the rent to approximately £825 PCM, increasing the gross yield to around 10.6%, subject to market conditions and tenancy arrangements.
The property has previously operated as a four-bedroom HMO, providing an alternative investment strategy for purchasers looking to maximise returns. Buyers should make their own enquiries regarding HMO licensing, planning requirements and compliance.
Located within the Newport area of Middlesbrough, the property benefits from strong rental demand and offers investors multiple exit and income strategies.
Investment Highlights
Tenant in situ paying £750 PCM
9.7% gross yield at asking price
Potential 10.6% gross yield
Previously operated as a 4-bed HMO
Freehold property
Established tenant of approximately 3 years
Asking Price: £93,000
EPC Rating: D
An excellent opportunity to acquire an income-producing asset with scope for future rental growth and value enhancement.
- 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.
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- 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.
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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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Visit our security centre to find out moreDisclaimer - Property reference 110-costa-street . 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 Pure, Manchester. 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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