Jackson Green & Preston says ..

Property Oracle says ..

This property on Hainton Avenue, Grimsby, Lincolnshire, is presented as a portfolio of eight flats converted from three terraced houses. The listing highlights potential for landlord investors due to existing rental income. However, the condition of the property is a major concern. Images reveal significant wear and tear throughout the flats: damaged carpets, cracked walls, outdated fixtures, and several rooms are in disrepair. Some rooms appear relatively clean and functional, though this may not reflect the overall condition of each flat. There’s minimal external space; a small paved rear area.

The location offers some positive aspects. Nearby primary and secondary schools are rated ‘Good’ by Ofsted, and the proximity to Grimsby Town railway station is beneficial for transport. However, the general condition is significantly below par. Comparing prices with nearby listed properties shows some discrepancy. For example, a three-bedroom semi-detached house in a nearby location is listed for significantly less. The £249,995 asking price for this portfolio is arguably high given the need for renovation but the earning potential of the rental income may justify the price. Potential buyers or investors should carefully assess the required renovation costs, rental market, and overall risk associated with this property before making a decision. A thorough property survey is essential.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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