Residential portfolio for sale
Property description & features
- Tenure: Freehold
Outstanding investment opportunity. Portfolio of 4 bungalows in popular residential location, close to local schooling and shops in the historic town of Elgin.
The portfolio comprises 3 tenanted properties- commanding an immediate rental income of £1,100 per month (£13,200 per year) and an additional derelict bungalow offering potential for development.
Realistic combined value of £180,000 with the 3 tenanted properties independently valued at £50,000 each in current condition and a value of at least £30,000 on the 4th property.
Outstanding investment opportunity. Portfolio of 4 bungalows in popular residential location, close to local schooling and shops in the historic town of Elgin.
The portfolio comprises 3 tenanted properties- commanding an immediate rental income of £1,100 per month (£13,200 per year) and an additional derelict bungalow offering potential for development.
Realistic combined value of £180,000 with the 3 tenanted properties independently valued at £50,000 each in current condition and a value of at least £30,000 on the 4th property.
20 Park Road, Elgin, IV30 8PJ- Home Report Valuation – £50,000
1 Bedroom semi-detached bungalow sold with settled long-term tenant paying £350 per month (£4,200 per year). The tenancy is professionally manged by a reputable local agency who are happy to continue with the management.
The accommodation benefits from electric heating and double glazing and comprises: Entrance vestibule, living room, hallway, bedroom, kitchen and bathroom.
22 Park Road, Elgin, IV30 8PJ- Home Report Valuation – £50,000
1 Bedroom semi-detached bungalow sold with settled long-term tenant paying £350 per month (£4,200 per year). The tenancy is professionally manged by a reputable local agency who are happy to continue with the management.
The accommodation benefits from electric heating and double glazing and comprises: Entrance vestibule, living room, hallway, bedroom, kitchen and bathroom.
24 Park Road, Elgin, IV30 8PJ- Home Report Valuation – £50,000
1 Bedroom detached bungalow sold with settled long-term tenant paying £400 per month (£4,800 per year). The tenancy is professionally manged by a reputable local agency who are happy to continue with the management.
The accommodation benefits from electric heating and double glazing and comprises: Entrance vestibule, living room, hallway, bedroom, kitchen and bathroom.
Included in the sale is an excellent development opportunity. A forth bungalow/ commercial property offering the opportunity for full re-development. The area is currently designated as garden ground but redevelopment will be encouraged by the local authority.
Potential for bungalow or for flats with new development strongly encouraged by the local authority (subject to necessary consents).
The historic town (and former city) Elgin is the largest town and administrative centre of the Moray region in Scotland’s North East with a resident population of 25,000 and offers excellent access to the larger cities of Aberdeen and Inverness.
Note to buyer- This property will be sold under auction terms and conditions.
Contact Braveheart Auctions for further information and discuss the possibility of a pre-auction offer.
Places of interest
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Broadband availability and predicted speed: obtained from Ofcom on June 17, 2022
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Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
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Energy Performance data and Internal floor area
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