9 bedroom semi-detached house for sale3 Clive Crescent, Penarth, CF61 1AT
FOR SALE BY PUBLIC AUCTION Tuesday, 3rd July 2018 - 5pm at Park Inn Hotel, Circle Way East, Llanedeyrn, Cardiff, CF23 9XF
A substantial four storey semi detached house having pointed brick elevations beneath a pitched slate roof covering benefiting from double glazed uPVC fenestration and gas central heating (not tested). The property is currently divided into three units comprising of a two bedroom self contained lower ground floor apartment, six bedsit rooms with a share of two bathrooms occupying the ground and first floors and a top floor large one bedroom apartment with sea views to the rear .
The property is located in a superb position within walking distance of this popular seaside town centre with a selection of bars, restaurants and boutiques. The town has a Victorian promenade and pier, a number of parks, marina and excellent schools.
The house is fully HMO licensed and currently has full occupation with very little void periods as the owner has preferred to retain the tenants on low rents rather than increase to market rents. The income currently generated is £22,884 per annum with scope for betterment in the region of £35,000 with an increase to market rent. The property may also suit conversion to four individual apartments with refurbishment and resale or retain and let, alternatively, the building could be converted back to one large residential dwelling (subject to all necessary consents).
LGF: Self contained two bedroom apartment accessed from the rear of the building through a
gated side entrance. Hallway, lounge, dining room, kitchen, two bedrooms, bathroom
GF: Hallway, bedsit A with separate kitchen, bedsit B, bedsit C, bathroom
FF: Accessed from a brick built external staircase. Landing, bedsit D, bedsit E, bedsit F,
SF: Large one bedroom apartment. Hall, lounge, kitchen, study/store, bedroom, bathroom
OS: Well maintained garden to the front side and rear
Tenure: Presumed Freehold - please refer to legal pack for verification of tenure.
Tenancies: Two bedroom lower ground floor flat currently let on an AST at £400 pcm
Bedsit A: currently let on an AST at £175 pcm
Bedsit B: currently let on an AST at £190 pcm
Bedsit C: currently let on an AST at £190 pcm
Bedsit D: currently let on an AST at £160 pcm
Bedsit E: currently let on an AST at £190 pcm
Bedsit F: currently let on an AST at £152 pcm
Top floor apartment currently let on an AST at £450 pcm
Total monthly rent is £1,907 pcm with current annual income of £22,884 with
scope for betterment to approximately £35,000 per annum in line with market
rents in our opinion.
Viewing: Strictly by appointment only - Auctioneers Office, Seel & Co Ltd (029) 2037 0117
Guide price: £440,000+
Buyers Premium - 0.5% with minimum of £600 (incl. of VAT) payable on exchange of contracts.
Please check the legal pack for any further disbursements that may be payable by the purchaser on completion.
Please refer to legal pack and auction catalogue prior to bidding.
Please be aware that we do not accept credit or debit card and you cannot bid without having a deposit.
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