Description

A unique opportunity to acquire a fully-let block of 7 residential flats. 

The Area

This property is situated on a popular section of the main street in Tylorstown. Close to the villages of Ferndale and Porth, there is easy access to local shops, cafés and pubs. There is a convenience store located on the opposite side of the road and a major supermarket is under 2 minutes walking distance. Ystrad Rhondda train station is only a 5-minute drive away which provides direct trains into Cardiff. It is just a 13 minute drive to Pontypridd town centre and less than 20 minutes to Aberdare town centre, both of which boast many high-street shops. There are also well-respected schools only a few minutes’ drive away.

The Property

The 7 flats, all contained within an attractive period building, are each let on standard 12-month Occupation Contracts (commencing on varying dates) producing a total annual income of £42,000.00 with scope for increase.

The current tenancy schedule is as follow:

Flat 1: Let at £500 PCM

Flat 2: Let at £525 PCM

Flat 3: Let at £525 PCM

Flat 4: Let at £525 PCM

Flat 5: Let at £450 PCM

Flat 6: Let at £525 PCM

Flat 7: Let at £450 PCM

Combined monthly rent: £3,500.00

Combined annual rent: £42,000.00

The price of £450,000.00 (VAT free investment) reflects 9.3% gross yield. As seasoned investors will appreciate, this is an excellent return which is so rarely offered on the open market.

The sellers have acted as their own tenant managers and applied their strict vetting process when tenant finding. Many of the tenants have been in occupation for a significant time and there are no arrears at this time. They are up-to-date with all legislation and copies of the EPC, Gas Safety Certificates, Electrical Certificates, Occupations Contracts, Guarantor Forms etc. will be provided to prospective buyers.

The property is currently held under 1 freehold title, although there may be scope for the buyer to transfer each flat onto distinct leasehold titles and sell them separately (this can be discussed with your solicitor if it is something you may be interested in).

Management Services

Property Partners run a successful agency and management company and offer the buyer preferential rates if they wish for Property Partners to continue managing the tenants in the flats. Please contact us about this directly.