Block of Flats – 24 Wellington Road
Asking Price:
£175,000
Current Rent:
£1,460 (Per Month) £17,520 (Per Annum)
Market Rent:
£1,700 (Per Month) £20,400 (Per Annum)
Managed by TPSY
Block of Flats
Tenanted
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Flat 1
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Flat 2
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Flat 3
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Block of Flats – 26 Wellington Road, Bridlington, YO15 2BG
Property Type:
5x Tenanted, 3 Self-Contained Flats (3x 1 Bed Flats) or 3 Bed Mid-Terraced House
Key Features:
Managed by TPSY
Residential
Block of Flats
Tenanted
Bedrooms
Bathroom
Gas Central Heating/Electric Heating
UPVC Windows
On Street Parking
Freehold
Works Advised
Please click below to request a viewing on this property, we will be in contact with you to discuss your request and the availability to view the property.
Property Details
The Property Shop Yorkshire is delighted to offer to the Off Market this Freehold 3x Self-Contained Block of Flats on Wellington Road in Bridlington. Each property is currently tenanted which provides a great opportunity for an investor to purchase a cash-generating asset from day one.
The property comprises:
Flat 1
- Ground Floor Flat
- 2 Bed – 1x Tenants
- Current Rent: £346.15 - 4 Weekly
- Market Rent: £550 - Monthly
- Over 1 Floor
- Front of Property - Lounge
- Central in Property - 2x Bedrooms
- Rear of Property - Kitchen, Bathroom
Flat 2
- First Floor Flat
- 2 Bed – 1x Tenants
- Current Rent: £490 – Monthly
- Market Rent: £550 - Monthly
- Over 1 Floor
- Front of Property - Living Room, Bedroom
- Central in Property - Kitchen, Bedroom
- Rear of Property - Bathroom
Flat 3
- Second Floor Flat
- 2 Bed - 1x Tenants
- Current Rent: £500 - Monthly
- Market Rent: £550 - Monthly
- Over 2 Floors
- Front of Property - Lounge, Bedroom
- Central in Property - Bathroom, Kitchen
- Rear of Property - Bathroom WC
- Second Floor - Large Storage Room
- 3 Bed - 2x Tenants
- Current Rent: £660 Monthly
- Market Rent: £900 Monthly
- Over 2 Floors
Ground Floor:
- Kitchen
- Stairs
- Garage
- Driveway and Parking for 1 vehicle
- Rear enclosed garden with pedestrian gate access
First Floor:
- Front Lounge
- Rear Bedroom 1
- House Bathroom
Second Floor:
- Front Bedroom 2
- Rear Bedroom 3
- 2nd Bathroom for Bedrooms 2 & 3
Condition Report
The buildings communal areas are in good condition and kept tidy and clean with the exterior of the building door and door ways also okay. There are no major defects and each flat is in various levels of lettable conditions.
Flat 1
- Had a new bathroom fitted July 2024
- Upon relet – flat would need a light paint and decoration throughout with potentially a consideration of fitting new carpets
Flat 2
- Upon relet – flat would need a light paint and decoration throughout with potentially a consideration of fitting new carpets
Flat 3
- Partial repair to the roof from a leak into the top bedroom, light water stain damage to the ceiling and decor which needs redecoration and painting.
- Upon relet – the rest of the flat is all in okay condition and wouldn’t need much work applied
Rental Information
Current Rent
£1,364.99 (Per Month) - £16,379.95 (Per Annum)
Market Rent
£1,700 (Per Month) - £19,800 (Per Annum)
Tenancy Agreement
3x 6 Month Assured Shorthold Tenancy Agreements in place
Comparables
Flat 1, 34 Wellington Road, Bridlington, YO15 2BG
£42,500 Flat, Leasehold 03Apri1 2023
10 Wellington Road, Bridlington, YO15 2BG
£260,000 Freehold 13 March 2023
£152,500 Freehold 13 October 2020
£195,000 Terraced, Freehold 01 February 2008
Flat 3, 38 Wellington Road, Bridlington, YO15 2BG
£65,000 Flat, Leasehold 24 June 2022
£44,000 Flat, Leasehold 28 lune 2018
Flat 9, 34 Wellington Road, Bridlington, YO15 2BG
£47,500 Flat, Leasehold 14 June 2022
£73,500 Flat, Leasehold 12 August 2010
32 Wellington Road, Bridlington, YO15 2BG
£340,000 Detached, Freehold 27 May 2022
Flat 2, 38 Wellington Road, Bridlington, YO15 2BG
£63,500 Flat, Leasehold 08 November 2021
£54,250 Flat, Leasehold 26 October 2006
£45,950 Flat, Leasehold 23 August 2004
Flat 5, 38 Wellington Road, Bridlington, YO15 2BG
£50,000 Flat, Leasehold 30 July2021
£19,000 Flat, Leasehold 24 October 2002
£18,000 Flat, Leasehold 31 October 1996
£26,500 Flat, Leasehold 10 February 1995
Comparable 1
Comparable 2
Comparable 3
Compliance
Gas Safety Certificate
Available digital on file – available upon requesting a viewing
Electrical Installation of Condition Report (EICR)
Available digital on file – available upon requesting a viewing
Energy Performance Certificate (EPC)
Available digital on file – available upon requesting a viewing
Flat 1:
Energy Rating: D
Current: 61
Potential: 73
Flat 2:
Energy Rating: D
Current: 63
Potential: 77
Flat 3:
Energy Rating: D
Current: 63
Potential: 74
Council Tax Band: A
Figures Estimated upfront costs below
Deposit: £43,750 (25% of Purchase Price) - £175,000 - 25%
Stamp duty: £5,250 (3% of Purchase Price) - £175,000 - 3%
Broker fee: £500 (Est.)
Solicitor fee: £1,200 (Est.)
TPSY fee: £3,150 (1.8% Inc VAT) - £175,000 - 1.8%
Total: £53,850 - Deposit + Stamp duty + Broker fee + Solicitor fee + TPSY fee
Current Yield: 10% (11.7% at Market Rent)
Buyer Disclaimer:
The Property Shop Yorkshire (The Agent) will guarantee the accuracy of all information in the property particulars to the fullest extent of our knowledge at all times. We recommend potential buyers to view the property themselves. The Agent has not reviewed the legal documents to confirm the property's legal status or validity of any guarantee. Buyers should consider the information inaccurate until confirmed by their solicitors. The photograph of the property does not imply its construction type or condition. These details are for guidance only and should not be the sole basis for a legal contract or expenditure. Interested parties should seek advice from their surveyor, solicitor, or other professionals before making any financial or legal commitments. The sales particulars may be subject to change, and it is recommended that any interested party conducts a final inspection of the property before the exchange of contracts. If the property is sold, tenanted and not under the agents management, they cannot be held accountable for the accuracy, legitimacy, or detail in the tenancy agreements and supporting documentation.
We can suggest solicitors, brokers, and surveyors to aid in examining and confirming these details, but we are not responsible for their conclusions. They serve as independent advisors.
Floorplan
N/A for this Property