Weelsby Street, Grimsby, Lincolnshire, DN32

Property Details: - Type: Block of apartments - Bedrooms: 1 - Bathrooms: 1

Agent: Jackson Green and Preston Estate Agents and Property Management - Grimsby Phone: 01472 467885

A freehold residential investment opportunity comprising three self-contained flats, all held on one title and offered for sale as a single lot.<br/>The property is arranged as two ground floor one-bedroom flats and a larger first floor two-bedroom flat, positioned on Weelsby Street, Grimsby, within a well-established residential location with consistent rental demand.<br/><br/>244 Weelsby Street is a ground floor one-bedroom flat accessed from the front and comprises an entrance hall, living room, modern fitted kitchen with smart units, rear lobby and bathroom fitted with a white suite. The flat benefits from a rear yard. <br/>246 Weelsby Street is a ground floor one-bedroom flat accessed from the rear. Accommodation includes an entrance hall, smart shower room, fitted kitchen, living room and bedroom, together with a small rear yard.<br/>246A Weelsby Street is a first floor flat extending over both ground floor units, resulting in larger overall accommodation. The property is accessed via a private ground floor entrance with staircase rising to the first floor and comprises a landing, shower room, dining room, living room, kitchen (dated but serviceable) and two bedrooms.<br/><br/>All three flats benefit from gas central heating systems and UPVC double glazing.<br/><br/>The flats are currently vacant, allowing a purchaser to set rents immediately and select tenants from completion.<br/>Based on current market evidence, the anticipated rental values are:<br/>246A Weelsby Street: IRO £400 pcm<br/>244 Weelsby Street: IRO £365 pcm<br/>246 Weelsby Street: IRO £365 pcm<br/><br/>This equates to a combined gross rental income of approximately £1,130 per calendar month, or £13,560 per annum.<br/><br/>At an asking price of £85,000 for the freehold interest, the investment offers an attractive projected gross yield of approximately 15.95%, with scope for further upside through light improvement and active management.<br/><br/>