Rose Terrace, Penzance TR18

Property Details: - Type: House - Bedrooms: 2 - Bathrooms: 2

Agent: Stacey Mann Estates - Penzance Phone: 01736 397313

An excellent opportunity to acquire a freehold property comprising two self-contained one-bedroom flats, both occupied by long-standing tenants who are happy to remain, providing an immediate and reliable rental income.<br/><br/>Currently generating a combined rental income of £1250 per calendar month (£15,000 per annum), the property offers an attractive gross yield at the asking price of £220,000.<br/><br/>The ground floor flat comprises a spacious living area, a kitchen to the rear, and a double bedroom with an en-suite bathroom. The property would benefit from renovation, offering excellent scope to enhance both its value and future rental potential. To the rear is a private courtyard with side access to the front street.<br/><br/>The first floor flat mirrors the layout of the ground floor and is presented in immaculate condition throughout. It offers a bright living room, rear kitchen, and a double bedroom with an en-suite bathroom, providing well-maintained accommodation.<br/><br/>This is an ideal investment purchase, combining immediate income from established tenants with the opportunity to add value through refurbishment of the ground floor flat.<br/><br/>Walking distance to the town centre, train and bus station this property is ideally situated on the fringe of Penzance. The market town of Penzance and its working harbour lies in a sheltered corner of Mounts Bay in South West Cornwall. The town offers all amenities including: schools, doctors, churches, banks, shops, restaurants and the famous Jubilee pool and Morrab gardens. The neighbouring town of Newlyn is approx. 1 mile away. Marazion 3 miles. Sennen, Porthcurno and St. Ives all within a short drive.<br/><br/>