Lancaster Road, Morecambe, LA4 5QR - Tenanted Property Auctions

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Property ID: 227463039

Monthly Income

£2,025

Current Yield

9.2%

Tenancy status

Tenanted

CapitalAppreciation

+4.18%

Key features

Portfolio of Five 1-Bedroom Flats
Buy-to-Let Opportunity
Tenant Currently Situated
Likely to attract enquiries from Serious Investors & Developers.
Property Scheduled for Online Auction

Description

This is a property portfolio located in Morecambe with tenants currently situated. They are currently generating steady, rewarding rental returns for the current landlord.

For investors looking for a rewarding investment, this is a brilliant opportunity!

The portfolio comprises of:

5 x 1-Bedroom Flats

Investment details

The current gross annual rent agreed with the tenant is £24,300 and there are tenants in situ. Considering the purchase price and the potential rental income that could be earned in future years, this will make for a worthwhile addition to an investors property portfolio.

This is a perfect addition to any investment portfolio with great rental returns in a high demand area.

Auction Details

The seller is open to pre-auction offers. Unless a pre-auction offer is accepted, the sale of this property will take place on our next bi-weekly online auction (see dates on our website) and is being sold under the unconditional sale type with a standard 28 days completion.

Separate to a 10% deposit (£5,000 minimum) and our Buyers Premium there may be additional fees or conditions listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack before bidding.

Binding contracts will be exchanged at the point of sale. All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Please call us or enquire for the full legal pack and property information on this listing.

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Cash Purchase

Mortgage

Purchase Price

Assumed purchase price based on home report value

Stamp Duty Tax

Est. Legal Fees

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Calculated Returns

Capital appreciation calculated based on location, property type, and market value. Learn more

Current Rent

Potential Rent

Purchase Costs

Net Rental Income2025/mo

Monthly Capital Appreciation/mo

Total Net Returns/mo

Total ROI

Investment Returns

Current Monthly Rent

£2025 pcm

Current Rental Yield

9.2%

Potential Market Value Rent

£2025 pcm

Potential Rental Yield

9.2%

Estimated Monthly Capital Appreciation

£923

Area Capital Appreciation Rate

+4.2%

Let Property Pre Checks

Tenancy Checks

Tenancy Agreement

Provided by the seller as verbal and written confirmation and documentation will be provided at Completion once the property has been secured.

Proof of Rental Income

Provided by the seller as verbal and written confirmation and documentation will be provided at Completion once the property has been secured.

Length of Tenancy

Length of Tenancy has been verified by Let Property by reviewing the date from when the provided tenancy documentation began.

Property Checks

Property Tenure

Verified as Freehold

Property Tenure documentation has been provided to Let Property and has been Verified.

EICR

EICR documentation has been provided by the seller as verbal and written confirmation of availability and documentation will be provided at Completion once the property has been secured.

Gas Safety

Gas Safety documentation has been provided by the seller as verbal and written confirmation of availability and documentation will be provided at Completion once the property has been secured.

EPC

EPC documentation has been provided by the seller as verbal and written confirmation of availability and documentation will be provided at Completion once the property has been secured.