20 bed detached house for sale

Greetwell Close, Lincoln LN2

Investment opportunity, 11 x Flats, fully let and Total gross rental income of approx £124k pa (9 x 2 Bed and 2 x 1 Bed) allocated parking for each flat, Separate heating systems and services, freehold. Newly refurbished throughout.

Property Description

We are delighted to offer to the market a fantastic Investment Opportunity which is currently achieving a total gross rental income of approximately £124k pa. The property has been completely remodelled and refurbished throughout to create a total of 11 flats which are configured as 9 x 2 Bedroom Flats and 2 x 1 Bedroom Flats. Each flat has it's own independent Gas Central Heating system and all flats have own access via a communal hallway throughout the building. The property is to be sold with the Freehold.

Greetwell Close is situated within close proximity to Lincoln Hospital and within easy access to the popular Bailgate and Cathedral Quarter of Lincoln where there are a number of shops, restaurants and amenities. The property is also close to Eastgate Tennis and Bowls Club as well at the Hockey and Cricket Club situated on Wragby Road. There are an number of supermarkets within close proximity and a regular bus service. Additional transport links include the Train Station and a short drive to the A46 Lincoln Bypass giving access to the A1 Motorway at Newark.

Each of the flats has an EPC rating of C and all flats are currently let and the tenants are responsible for their own utility bills.

Each Flat has an allocated off road parking space and the current rents being achieved are as follows:

Flats 1 - 2 Bed at £975 pcm
Flat 2 - 2 Bed at £975 pcm
Flat 3 - 2 Bed at £950 pcm
Flat 4 - 1 Bed at £870 pcm
Flat 5 - 2 Bed at £920 pcm
Flat 6 - 2 Bed at £975 pcm
Flat 7 - 2 Bed at £975 pcm
Flat 8 - 2 Bed at £975 pcm
Flat 9 - 2 Bed at £975 pcm
Flat 10 - 2 Bed at £970 pcm
Flat 11 - 1 Bed at £850 pcm

For any further information please contact the office on

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