20 bedroom block of apartments for sale
Key information
Property description & features
- Tenure: Freehold
- Ideal Investment Opportunity
- City Centre Location
- Mixed use building with 14 Apartments and 2 Commercial Units
- Located in area with High Residential Demand for both Professionals and Students
- Dedicated Parking
The portfolio includes 14 self-contained apartments ranging from 1 to 3 bedrooms, each with their own separate entrances, meters, utilities, and boilers. Additionally, there is dedicated car parking at the rear of the building for convenience.
In addition to the apartments, the block features a ground floor commercial unit currently operating as a dance studio, as well as a rented basement storage unit. The building is fully compliant with fire safety regulations and has up-to-date gas and electric certifications, ensuring peace of mind for investors.
With an annual rental income of £121,000 from the current tenants, there is also potential to increase rents for the flats, offering a lucrative opportunity for growth. Nearby, you'll find Sunderland's Tyne and Wear Metro Station, Sunderland Station, St Peter's Station, as well as local schools such as Sunderland Children's Centre East, Hudson Road Primary School, and Dame Dorothy Primary School.
We have been advised that the rent review letters have been served and the combined rents could potentially increase to £127,000 per annum in coming months.
Don't miss out on this fantastic investment opportunity - schedule a viewing today to explore the potential of this property on Norfolk Street, Sunderland SR1.
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Broadband availability and predicted speed: obtained from Ofcom on December 17, 2021
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