Park Road, Lenton, Nottingham
By Robert Ellis
£ 675,000
Robert Ellis says ..
A pair of inter-linked traditional semi-detached properties converted into 11 different flats (2 x studio and 9 x 1 bedroom) with accommodation over three floors. The flats benefit from UPVC double glazing and electric heating and both 58 and 60 have separate main ground floor reception entrance doors.<br /> <br />Price Guide of £595,000 for both 58 and 60 <br />Optimum rental value returnable is in the order of £44,100 per annum with current rents at their present level with the year of 2015 yielding £32,500 approx<br />Potential viewing via the Sales and Lettings agents Robert Ellis on <br /><br />A fantastic investment opportunity of eleven individual flats currently generating a rent of £3190.00 pcm.<br /><br />This pair of traditional and attractive three storey Victorian semi-detached houses have been converted into eleven individual flats.<br /><br />Occupying a sought after and convenient residential location within easy walking distance of The Park, the Queen's Medical Centre, Nottingham city centre and Nottingham University this excellent property with further potential to improve and increase rents is a great opportunity.<br /><br />The property is being sold with seven of the eleven flats currently let on assured short hold tenancies.<br /><br /><b>58 Park Road</b> - <br /><br /><b>Flat One</b> - Ground floor/basement. The accommodation briefly comprises: Lounge, double bedroom, shower room and kitchenette to the basement. The property benefits from gas fires central heating and UPVC double glazing. Currently vacant.<br /><br /><b>Flat Two</b> - Ground floor one bedroom flat. The accommodation briefly comprises: Lounge, entrance hall, kitchen, bedroom and en-suite shower room. The property has gas fired central heating and double glazing. Currently let at £375.00 pcm.<br /><br /><b>Flat Three</b> - First and second floor duplex one bedroom flat. The accommodation briefly comprises: Lounge, open plan kitchenette to the first floor and double bedroom and fitted shower room to the second floor. The property has gas central heating and double glazing. Currently let at £425.00 pcm.<br /><br /><b>Flat Four</b> - A first floor one bedroom flat. The accommodation briefly comprises: Entrance hallway, lounge, double bedroom, kitchen and shower room. The accommodation benefits from gas fired central heating and double glazing. Currently let at £425.00 pcm.<br /><br /><b>Flat Five</b> - Ground floor one bedroom flat. The accommodation briefly comprises: Entrance hall, lounge, open plan kitchen and double bedroom. The accommodation benefits from gas central heating and double glazing. Currently let at £395 pcm.<br /><br /><b>60 Park Road</b> - <br /><br /><b>Flat One</b> - A ground floor studio flat. The accommodation briefly comprises: Lounge/bedroom combined with separate kitchen and shower room. The accommodation benefits from gas fired central heating and double glazing. Currently vacant.<br /><br /><b>Flat One A</b> - Currently vacant with further details to follow.<br /><br /><b>Flat Two</b> - Ground floor one bedroom flat. The accommodation briefly comprises: Entrance hall, lounge, double bedroom, fitted kitchen and shower room. The accommodation benefits from gas fired central heating and double glazing. Currently let at £325.00 pcm.<br /><br /><b>Flat Three</b> - First and second floor one bedroom duplex. The accommodation briefly comprises: Lounge and open plan kitchenette to the first floor and double bedroom and fitted shower room to the second floor. The accommodation has gas fired central heating and double glazing. Currently let at £425.00 pcm.<br /><br /><b>Flat Four</b> - First floor one bedroom flat. The accommodation briefly comprises: Entrance hall, lounge, open plan kitchen, double bedroom and shower room. The accommodation benefits from gas fired central heating and double glazing. Currently let at £425.00 pcm.<br /><br />Door to entrance hall with radiator.<br />Sitting room 4.54 x 3.75 UPVC double glazed window and radiator<br /><br />Bedroom 3.16 x 2.79 UPVC double glazed window and radiator<br /><br />Kitchen 2.50 x 1.79 + recess Fitted wall and base units, work surfacing with tiled splashbacks, single sink and drainer with mixer tap, appliance space and UPVC double glazed window.<br /><br />Shower Room Three piece suite comprising WC, pedestal wash hand basin, shower cubicle with Triton shower over, two UPVC double glazed windows and extractor fan.<br />Outside to the front the property has a walled area of garden and to the rear has an enclosed garden with grass.<br /><br /><b>Flat Five</b> - Second floor one bedroom flat. The accommodation briefly comprises: Entrance hall, lounge, open plan kitchen, double bedroom and shower room. The accommodation has gas fired central heating and double glazing. Currently let at £395.00 pcm.<br /><br />A fantastic investment opportunity of eleven individual flats currently generating a rent of £3190.00 pcm.<br /><br />
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- Bathrooms
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Metrics Year-on-Year
- Average area value
- 227,385.00 £Decreased by 19.26 %
- Average area rental value
- 1,344.00 £/moIncreased by 32.28 %
- Est rental Yield
- 7.09 %Increased by 63.74 %
- Crime Rate
- 1.00 %Unchanged by 0.00 %
Agent Activity
Robert Ellis created the listing.
Nearby Schools
| Name | Type | Ofsted | Distance |
|---|---|---|---|
| Edna G. Olds Academy | Academy Converter | Outstanding | 0.63 KM |
| St Joseph'S School | Other Independent School | 1.34 KM | |
| Victoria Primary School | Academy Converter | Good | 1.40 KM |
| Cp Riverside School | Free Schools Alternative Provision | 1.44 KM | |
| Unity Academy | Academy Alternative Provision Sponsor Led | Requires improvement | 1.49 KM |
Images
Nearby Streets
| Name | Average Price | Average Sqft | Distance |
|---|---|---|---|
| Harlaxton Drive | £ 275,000 | 0 | 0.00 KM |
| Kirtley Drive | £ 0 | 0 | 0.00 KM |
| Godfrey Lane | £ 0 | 0 | 0.00 KM |
| Lenton Boulevard | £ 0 | 0 | 0.00 KM |
| Park Hill | £ 0 | 0 | 0.00 KM |
Nearby Transport
| Name | NLC | TLC | Distance |
|---|---|---|---|
| Nottingham | 1826 | NOT | 2.31 KM |
| Beeston | 1625 | BEE | 5.36 KM |
| Bulwell | 1865 | BLW | 6.65 KM |
| Attenborough | 1624 | ATB | 8.44 KM |
| Netherfield | 6241 | NET | 9.79 KM |
Nearby Listings
| Address | Price | Type | Score | Distance |
|---|---|---|---|---|
| Harrington Drive, Lenton, Nottingham | £ 265,000 | BUY | 6 / 10 | 0.06 KM |
| Park Road, Nottingham, Nottinghamshire, NG7 | £ 225,000 | BUY | 6 / 10 | 0.09 KM |
| Park Road | £ 275,000 | BUY | 8 / 10 | 0.09 KM |
| Harrington Drive, Lenton | £ 350,000 | BUY | 5 / 10 | 0.09 KM |
| Lenton Court, Lenton Avenue, The Park, Nottinghamshire, NG7 1DZ | £ 250,000 | BUY | 6 / 10 | 0.13 KM |
Nearby Properties
| Address | Price | Distance |
|---|---|---|
| 72a Park Road | £ 285,000 | 0.09 KM |
| 72b Park Road | £ 200,500 | 0.09 KM |
| 6 Park Road | £ 245,000 | 0.09 KM |
| 34 Park Road | £ 150,000 | 0.09 KM |
| 40 Park Road | £ 230,000 | 0.09 KM |