East Mount Road, Darlington

Property Details: • Type: Ask agent • Tenure: N/A • Floor Area: N/A

Key Features: • 12 APARTMENTS CONSTRUCTED 2019 • SECURE INCOME BY WAY OF A LEASE OVER 11 APARTMENTS TO FEBRUARY 2027 • UNDERCROFT PARKING

Location: • Nearest Station: North Road Station • Distance to Station: 0.4 miles

Agent Information: • Address: 18 St. Cuthberts Way, Darlington, County Durham, DL1 1GB

Full Description: Residential investment block constructed 2019 comprising 12 x 1 Bed Apartments. 11 of the apartments are occupied by way of a 3 year lease by Everyone Matters Homes CIC at £78,540. The remaining apartment is occupied by way of a standard AST with the view that Everyone Matters Homes are likely to take occupation following the expiration of the fixed term period.Gross Rents: £85,680paxA purchase at the asking price provides a net initial yield of 8.31% after assuming standard purchaser’s costs at 5.72%.