7 bed block of flats for sale

Westbrook Road, Margate, Kent CT9

RP1132 -We are delighted to present this fantastic investment opportunity, two Buildings with 6 freehold flats ( 3 Flats in each building)with excellent income potential. Whether you’re a seasoned investor or just starting to build your portfolio, this property offers a blend of steady rental income and the potential for further development.

Property Details

Property One

⁃ Comprises of Three 1 bedroom apartments
⁃ Fully tenanted, providing a current annual rental income of £21,600. With a potential to effortlessly increase this to £24,000 per Annum
⁃ Tenants in situ (with a new 12 month contract) ensuring immediate returns.
⁃ Sea views from the top floor & Middle floor apartments large bay windows.

Property Two

⁃ This is currently uses as holiday lets providing a £15,000 income over 4-5month of the year.
⁃ This building comprises of two, 1 bedroom apartments and a one, 2bedroom apartment.
⁃ Potential to convert the loft space in the top floor apartment which the current owner has started and currently uses for storage space.
⁃ Top floor apartment is well decorated with modern amenities with sea views from the large bay window.
⁃ The middle apartment is a two bedroom. Well decorated with modern amenities with sea views.
⁃ Ground floor apartment one bedroom kitchen, utility room with doors from the kitchen leading into the garden.

Garden

⁃ In the garden there is a separate one bedroom and bathroom lodge. Plumbing and electric has been installed.
⁃ There is access to this via the entrance of Property 1.

Total Current Income £36,600 from long term rents and holiday lets.
Growth potential

⁃ Increased Rental rates
⁃ Increased long term rentals in Property 2
⁃ This would give a potential annual income of £49,500

This is an unparalleled opportunity to acquire this versatile property in a sought after location.

Property 2

Ground Floor Apartment
⁃ Lounge - 3.88m x 4.58m into the bay
⁃ Bedroom - 3.82m x 3.2m
⁃ Kitchen - 4m x 3m
⁃ Bathroom
⁃ Utility Room

Middle Floor Apartment
⁃ Lounge - 4m x 3.2m
⁃ Bedroom 1 - 4.5m into the bay x 3.47m
⁃ Bedroom 2 - 3m x 2.47m
⁃ Kitchen - 2.25m x 1.75m
⁃ Bathroom

Top Floor Apartment
⁃ Lounge - 4.5m into the bay x 3.34m
⁃ Bedroom - 2.95m x 3.17m
⁃ Kitchen 2.61m x 1.8m
⁃ Bathroom -
⁃ Loft Space - 6.5m into the eaves x 5.1m into the eaves.

Important Notice.
In accordance with the Property Misdescriptions Act (1991) we have prepared these sales particulars as a general guide to give a broad description of the property. They are not intended to constitute part of an offer or contract. We have not carried out a structural survey and the services, appliances and specific fittings have not been tested. All photographs, measurements, floor plans and distances referred to are given as a guide and should not be relied upon for the purchase of carpets or any other fixtures or fittings. Lease details, service charges and ground rent (where applicable) are given as a guide only and should be checked and confirmed by your solicitor prior to exchange of contracts.