Offers Invited £330,000
The subject portfolio is located on East View, Castletown, Sunderland. This area is made up of different properties including residential and commercial premises and businesses, providing a high level of services and facilities within the local area. The property is located approximately 3.5 miles West of Sunderland City Centre and have a high level of access to the region.
The subject portfolio is SIX tenanted residential dwellings. The houses are a mixture of Two and Three bedroom with long term tenants generating an annual income of £37,440. Tenancy schedule available upon request.
We are advised that all houses are occupied by long term tenants who have lived there for five years or more, paying rents of £120 per week. This totals an annual income of £37,440 which equates to a 10.95% yield.
We currently await a copy of all Energy Performance Certificates.
We have been advised that all of the properties are let on Assured Shorthold Tenancy Agreements with a combined rental income of £37,440 per annum.
A copy of the tenancy agreements are available on request.
COUNCIL TAX BAND
All of properties are of council tax band A.
The properties are available by way of Freehold and we are instructed to seek a price of £330,000 equating to a net initial yield of 12%.
Title numbers below.
1 East View: TY118462
2 East View: TY158213
3 East View: TY288608
4 East View: TY181633
7 East View: TY298095
8 East View: TY283217
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
Each party is to bear their own legal costs involved in the transaction.
For general enquiries and viewing arrangements please contact Michael McGhin at Bradley Hall.
Tel: 0191 5634242