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