1 bedroom apartment

This modern ground-floor apartment is perfect for both first-time buyers and investors. Offering a potential rental income of £650pcm and a strong yield of approximately 7%, it presents an excellent investment opportunity. The spacious sitting room, fully equipped kitchen, and good-sized bedroom provide a comfortable living space. Located near Stalham Town Centre, residents enjoy a peaceful setting with easy access to local amenities. Additional features include a communal garden, allocated parking, and extra storage. With vacant possession and no onward chain, this property offers a hassle-free purchase for both first-time buyers and investors.

Location

Stalham is a small town located in the county of Norfolk. It is situated approximately 10 miles east of the city of Norwich, with the town's postcode area being NR12. Stalham is positioned near the edge of the Norfolk Broads, a network of rivers and lakes known for its scenic beauty and outdoor activities. The town is well-connected by the A149 road, which runs along the north coast of Norfolk, providing access to nearby coastal towns and villages.

Historically, Stalham was a market town and has a rich heritage associated with the boating industry, as it was once a centre for the building and repair of boats used on the Broads. The town also offers various local amenities, including schools, shops, and public transport links, making it an attractive place for both residents and visitors.

The Property

This modern ground-floor apartment presents an exciting opportunity for first-time buyers, with the added benefit of no stamp duty and the potential for mortgage repayments lower than rent, making it an affordable step onto the property ladder.

The spacious and well-maintained living area is designed for comfort, offering a generously sized sitting room that provides ample space for both relaxation and entertaining. Large windows flood the room with natural light, creating a bright and welcoming atmosphere. The well-equipped kitchen offers plenty of room for appliances, ensuring a practical and functional cooking space.

The apartment also features a good-sized bedroom, providing plenty of room for storage and furnishings. The three-piece bathroom, complete with a shower over the bath, offers both style and practicality. Throughout the home, the interiors have been maintained to a high standard, making it a ready-to-move-in opportunity for buyers.

A standout feature of the property is the communal garden area, mainly laid to lawn, creating a pleasant outdoor space. A paved walkway leads directly to the front door for easy access, while a brick storage unit at the rear offers additional storage for personal belongings. The property also includes an allocated parking space, adding convenience for residents.

For buy-to-let investors, this property offers strong potential for rental income, with a suggested rent increase to £650-£700pcm, which would yield an attractive return on investment at around 7% yield. Combining the potential for first-time buyers with its appeal for investors, this apartment offers a wealth of possibilities.

Agents Note

Sold Leasehold

Connected to mains electricity, drainage and water.

There is a 6 monthly maintenance charge of £50, so £100 per annum.

There is a ground rent annual charge of £15.

There is a building insurance premium 24/25 of £123.31.