1 bedroom end of terrace house

TO BE SOLD BY ONLINE AUCTION ON 23RD OCTOBER 2024 UNLESS SOLD PRIOR UNDER AUCTION TERMS.

2 Melbourne Street, Padiham, Burnley, BB12 7EU

In the heart of Padiham, Burnley, this tenanted one-bedroom end-terrace property presents an ideal opportunity for savvy investors seeking a buy-to-let investment with the potential for substantial value enhancement through modernisation.

Let on an AST dated February 2024 at £425 pcm giving a 17% yield!

The property has not been inspected by Edward Mellor Auction but is reported to comprise one bedroom a spacious living area, a kitchen, and a bathroom, this property offers a solid foundation for refurbishment and modernisation, allowing you to tailor it to the demands of the rental market. Once renovated and let out the property has potential to achieve £600 plus monthly rent.

Here are some similar properties taken from Land Registry which have sold close by:

87, Stockbridge Road, Burnley, BB12 7EX Sold - 09/02/2024 £76,000 0.03 mi

64, Stockbridge Road, Burnley, BB12 7EX Sold - 30/05/2024 £73,000 0.02 mi

4, Palmerston Street, Burnley, BB12 7ES Sold - 30/09/2022 £82,000 0.03 mi

Padiham, situated within the picturesque Burnley area, boasts a rich history and a close-knit community. Its proximity to Burnley town centre provides residents with access to a wide array of amenities, schools, and leisure options. With its affordable housing market and growing popularity among tenants, Padiham offers a compelling investment proposition.