Investment Property In Wolverhampton
2 bedroom apartment for sale
Ideal Investment Opportunity offering this Ground Floor Apartment, sold as seen there are 2 units within this converted End Terrace house.
Both Flats are available as a whole for freehold or sold individually for £74,950 each for leasehold top flat will have to pay a ground rent of £250 p.a.
The property can be put back as a house offering 3 reception rooms and 4 bedrooms above and bathrooms on both floors.
This property is perfect for experienced or first time investors offering potential net rental income of £12,000 p.a giving a substantial return of investment of 7.47% based on a rental of £500 for each flat if refurbished to good standard. Previous let at £450 pcm each in its current state.
The property offers:-Leasehold With an income of £250 p.a. for the Ground Rent
FLAT ONE situated on the Ground Floor Flat Entrance font the front:-
The property is ideal for disabled person and family the property offers:-
A spacious two rooms front and rear, the back bedroom has separate door ideal for disabled excess, lounge/dining room in the middle, spacious size kitchen, hallway to rear of the property offering laundry room, main bathroom with bath and shower over, yard with rear garden which is currently shared with the flat above.
OFFERED Separately a new lease if sold separately for £74,950 this shall be leasehold with Ground rent of £250 p.a. new lease at 125 years.
FLAT TWO situated on the First Floor Flat, Entrance from the side
Stairs to flat, two bedrooms one situated in the loft area, front facing lounge, rear kitchen, bathroom. This flat has been recently refurbished with new carpets and painted.
Property is located in the north east of Wolverhampton City Centre just of the Cannock Road, which is approximately 3/4 of a mile away from Wolverhampton Rail Station. 5-10 minute drive to New Cross Hospital and good links to local areas. With excellent local schools most noteworthy of which are, Wooden Primary School and Heath Park Secondary school, both of which have recently received an outstanding Of sted report.
Epc D (44)
- **CHAIN FREE!**
- Great Starter Home & Investment Opportunity
- Spacious Ground Floor Apartment Offering 2 Bedrooms, Lounge, Kitchen with garden
- Nearby local amenities and plenty of transport links
- In Need of Modernising, but The Family Home has a lot of Potential
- Ideal Commuting to Birmingham, Wolverhampton, Walsall
- Leasehold with an income from Ground Rent if sold separately
- Leasehold with 125 year lease Ground RENT £250 p.a.
- EPC D
Steps leading to front door, paved frontal
Long entrance hall with small ceiling archway above, carpeted. leading to
w: 3m x l: 3.33m
From hallway first right, Spacious double size room, double bed will fit, bay window, GCH radiator, carpeted, gas box with shelving above to the left of the window, electric meter boxed in to the left of window.
Door to right before the living room, used for storage only.
No door but frame still in place if needed to be replaced at a later date.
Going Through from hallway to Rear of the property.
Spacious family room for lounge and dining area, GCH Radiator, carpeted, far right near window this area is used for dinning enough space for table and chairs, double glazed window.
Dinning area (6'11"x appx2'7")
Window to wall:- (3'2")
w: 2.59m x l: 4.9m
Spacious kitchen space for breakfast bar area, laminated flooring, spacious for gas cooker, fitted kitchen with tiles above cooker, units, area near the sink. Double sink unit to the right, wooden shelve with combi boiler above (make:- Vaillant), smoke alarm, double glazed windows, sliding door to.....(16'1x8'6") _2.59m x l_ 4.9m
Sliding door, hallway to back room & bathroom, currently used as a utility area, laminated flooring, GCH, D.G.window.
To the right with sliding door, shower over bath, wc, sink basin, D.G. window, all tiled, GCH, shower curtain rod.
w: 3.61m x l: 5.13m
w: 5.13m x l: 3.61m
Spacious double size bedroom located at the back of the property, this room is idea for disabled people as wheel chair excess to rear of property. Currently has space for double bed and kids double bunk bed, GCH, air filter vents, 3 double glazed windows, back door double glazed.
(16'10" x 11'10"1/2)
Back Yard/Rear Garden
Shared rear garden with flat above.
From the kitchen back door all paved area ideal for wheel chair to back room external door, excess to back yard from front a wood door, all disabled railings on back doors. Rear garden spacious overlooking block of flats/housing, fencing & block bricks surrounding.
Potential Net rental income of £8,940 p.a giving a substantial return of investment of 6.39%
The Agent has not checked the legal documents to verify the Freehold/Leasehold status of the property. The buyer is advised to obtain verification from their Solicitor or Surveyor.
Items shown in photographs are NOT included unless specifically mentioned within the particulars. They may however be available by separate negotiation. The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A buyer is advised to obtain verification from their Solicitor or Surveyor. References to the tenure of a property are based on information supplied by the seller. The agent has not had sight of the title documents. A buyer is advised to obtain verification from their solicitor.
The Agents have not tested any Equipments, Fixtures, Apparatus, Fittings or services and so cannot verify they are in working order or fit for their purpose.
The buyer is advised to obtain verification from their Solicitor or Surveyor.
In order to clarify the process, all offers should be either confirmed in writing or telephoned through to the relevant office.
We will need to verify your buying position and ability to proceed, therefore if you require a mortgage we will ask to see a copy of your Mortgage Certificate. If this is not available, you will be contacted by our Financial Advisor to confirm your ability to proceed, although you are not obliged to use the services of our Financial Advisor.
If you are a cash purchaser, we will require proof of funds for our records.
Strictly by prior appointment with John Miller Estate Agents on 0121 794 3340. Our office is open 6 days a week, Monday to Friday 9.00am till 5.30pm and Saturdays 9.00am till 2.00 pm.
1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: John Miller has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: John Miller has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.
Whilst every effort is made to ensure the accuracy of these details, it should be noted that the measurements are approximate only. Floorplans are for representation purposes only and prepared according to the RICS Code of Measuring Practice by our floorplan provider. Therefore, the layout of doors, windows and rooms are approximate and should be regarded as such by any prospective purchaser. Any internal photographs are intended as a guide only and it should not be assumed that any of the furniture/fittings are included in any sale. Where shown, details of lease, ground rent and service charge are provided by the vendor and their accuracy cannot be guaranteed, as the information may not have been verified and further checks should be made either through your solicitor/conveyance. Where appliances, including central heating, are mentioned, it cannot be assumed that they are in working order, as they have not been tested. Please also note that wiring, plumbing and drains have not been checked.