About this apartment
Investment Opportunity Block of Four One-Bedroom Flats Cooke & Co are delighted to offer this block of four one-bedroom flats situated on Crescent Road, Ramsgate, presenting an excellent opportunity for investors looking for an established, income-producing property. All four flats are currently tenanted, making this a ready-to-go investment from day one.
Two of the flats currently achieve £675 pcm, with the remaining two achieving £700 pcm, providing a combined rental income of £2,750 per month and an annual rental income of £33,000. Based on an asking price of £355,000, this represents a gross rental yield of approximately 9.3%, before allowing for any management, maintenance or other associated costs.
The flats would benefit from some modernisation and general refreshing throughout, offering the incoming purchaser further scope to improve the accommodation over time. Flat 1 also benefits from its own garden, providing an additional selling point. Crescent Road is conveniently positioned within easy reach of Ramsgate town centre and seafront, with local amenities, bus routes and transport links all nearby.
Offering immediate rental income alongside further potential to enhance the accommodation, this is an exciting opportunity for investors looking to expand their portfolio in Ramsgate.
Key features
- Block Of Flats
- Four One Bedroom Flats
- Council Tax Band: A
- Current Yield of 9.3%
- Annual Income £33,000
- Ready Made Investment
- Currently Tenanted
- EPC Rating: D
- Freehold
Rooms
Location
Energy performance
The energy efficiency rating is a measure of the overall efficiency of a home. The higher the rating, the more energy efficient the home is and the lower the fuel bills are likely to be.