8-BED | 6-UNIT | MULTI-BLOCK-UNIT | BMV

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FREEHOLD
£600,000

Overview

Number ID 100023
Type Block of Flats
Size 294
No. of Units 6
Bedrooms 5+
Bathrooms 3+
Strategy Title Split
Property Type Block of Apartments
Condition Turnkey
Status Available
Tenure Freehold
Location South of England

Description

We are pleased to present this off-market investment opportunity to acquire a freehold block of six self-contained flats in Portsmouth for cash sale at £600,000 which is 20% below against the asking price of £750,000. The property comprises two two-bedroom flats, each with one bathroom, and four one-bedroom flats, each with one bathroom. The block currently generates an annual rental income of £55,260, with a proposed increase to £55,680, offering a gross rental yield of approximately 9.21% at the purchase price, rising to 9.28% following the proposed rental increase. The property also offers potential for a title split, with an estimated end value of £900,000-£925,000 through individual flat sales, subject to legal feasibility, necessary consents and independent valuations. This represents a potential gross uplift of £300,000+ before acquisition costs, legal fees, finance costs and other associated expenses. The block may also be suitable for purchase through a SPV which will benefit from stamp duty relief. This opportunity would suit investors seeking an established rental income alongside potential capital appreciation and an alternative exit strategy.

Features & Amenities

  • Garden

Floor Plan & EPC

Location

Property ID

Number ID 100023

Full figures on this property

Purchase costs, monthly figures and returns, in one PDF.

Property Cost Analysis

Cash Required 168000
Annual Rent 55260
Annual Cashflow 18924
End-Value 900000
ROI 11

Property Contact

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