Napier Road, Luton

FREEHOLD INVESTMENT OPPORTUNITY – TWO LET FLATS – 8.4% GROSS YIELD
28 Napier Road, Luton, Bedfordshire, LU1 1RF
Asking Price: £275,000 – Freehold
Ultimate Connexions Sales & Commercials Ltd are pleased to offer for sale this freehold residential investment comprising two separately registered flats, both currently generating rental income.
The property comprises a one-bedroom upper-floor flat and a ground-floor flat with a double bedroom, together with a second bedroom located in the basement. The basement benefits from an entrance from the front of the property, offering potential to explore alternative use or conversion, subject to the necessary permissions and approvals.
With two existing rental units and potential to investigate further development opportunities, this property may appeal to landlords and investors seeking an established income-producing asset with scope to add value.
CURRENT RENTAL INCOME – £23,100 PER ANNUM
The combined rental income is £1,925 per calendar month, providing an approximate gross yield of 8.4% based on the asking price of £275,000, before expenses.
FLAT 1 – GROUND FLOOR WITH BASEMENT
The ground-floor accommodation comprises a lounge, double bedroom, kitchen and bathroom, with a second bedroom located in the basement.
• Lounge: 10.46 sq m (approximately 113 sq ft)
• Ground-floor bedroom: 9.32 sq m (approximately 100 sq ft)
• Kitchen: 7.23 sq m (approximately 78 sq ft)
• Basement bedroom: 13.92 sq m (approximately 150 sq ft)
• Stated total floor area: approximately 61 sq m (657 sq ft)
• EPC rating: D
• Current rent: £1,050 pcm (£12,600 per annum)
Potential to add value: The basement has an entrance from the front of the property, which may offer scope to explore creating independent access and investigating the feasibility of conversion into a studio-style unit. Any conversion or change of use would be subject to planning permission where required, building regulations, suitable facilities, relevant freeholder and lease considerations, and all other necessary consents. No approval for such a conversion is represented as having been obtained.
FLAT 2 – UPPER FLOOR
The upper-floor flat comprises a lounge, one bedroom, kitchen and bathroom.
• Lounge: 20.04 sq m (approximately 216 sq ft)
• Bedroom: 10.66 sq m (approximately 115 sq ft)
• Kitchen: 5.93 sq m (approximately 64 sq ft)
• Stated total floor area: approximately 44 sq m (474 sq ft)
• EPC rating: D
• Current rent: £875 pcm (£10,500 per annum)
KEY PROPERTY FEATURES
• Freehold interest included in the sale
• Two separately registered flats
• Ground-floor flat with two bedrooms, including the basement bedroom
• One-bedroom upper-floor flat
• Both flats currently let
• Combined rental income of £1,925 pcm
• Annual rental income of £23,100
• Approximate gross yield of 8.4% at the asking price
• Both flats have an EPC rating of D
• Potential to investigate basement conversion, subject to the necessary consents
• Scope to review existing rents, subject to tenancy terms and applicable legal requirements
LOCATION – LUTON, BEDFORDSHIRE
Situated on Napier Road, the property benefits from a convenient Luton location, with local shops, amenities and public transport links within reach. Luton railway station provides services towards London, Bedford and other destinations. The town also benefits from access to the M1 motorway and wider road network.
INVESTMENT OPPORTUNITY
Offered at £275,000, this property provides an opportunity to acquire the freehold together with two separately registered residential flats, an established rental income and potential to explore opportunities to enhance the property's future income or value.
As the current rents have not been reviewed for some time, prospective purchasers may wish to assess the scope for future rent reviews, subject to the tenancy agreements, market evidence and applicable legal requirements. Investors may also wish to investigate the feasibility of the basement conversion independently.
Prospective purchasers should make their own enquiries regarding rental income, tenancy arrangements, title documentation, property outgoings and any proposed development.
ASKING PRICE: £275,000 FREEHOLD
For further information or to arrange a viewing, please contact:
Ultimate Connexions Sales & Commercials Ltd
Sabbi Bains –
Sam Bains –