1 Sunnyside, off Devonshire Road, Princes Park, Liverpool, L8 3TD
Location: About 1 mile south-east of Liverpool City Centre, on the edge of Princes Park (there is access to park from rear garden), close to the several bus routes on Devonshire Road and Princes Road. The Tesco superstore on Park Road (& other shops) is about 0.5 miles
A three storey building converted into five flats, two one-bed flats on the ground floor, and first floor and a three-bed flat on the second floor. Flat 1 £297pcm, (regulated rent), Flat 2 £300 pcm, Flat 3 £400 pcm, Flat 4 £475 pcm, Flat 5 £450 pcm. There are extensive cellar rooms, similar in size and layout to the rooms of the two ground floor flats (but lower ceiling height)
Facilities: full gas central heating to all flats
The auction guide price is £400,000 Total rents of £23,064 p.a. will give a net return of 4.6% after deducting 20% for repairs, management, insurance, boiler maintenance, letting costs etc. If the property is sold for £360,000 the net return would be 5.1%
Management. For an initial period of one year I am offering a comprehensive management service at 5% of rents received, and a comprehensive letting and vetting service (adverts on all major websites) for £300 + vat.