16 High Street, Easington Lane, Houghton Le Spring, Sunderland, DH5 0JN
- Unconditional Online Sale
- Bedrooms: 6
- Bathrooms: 3
- Reception Rooms: 3
BUY IT NOW PRICE £180,000 + Auction Fees of £4,800 Inc VAT
Description
BUY IT NOW PRICE £180,000 + Auction Fees of £4,800 Inc VAT
Moovd Online Property Auctions are delighted to offer For Sale via Option A – Unconditional Online Auction Terms, this fantastic investment opportunity comprising three residential properties, including a two-bedroom house and two self-contained two-bedroom flats, situated in the popular village of Easington Lane.
This attractive investment portfolio presents an excellent opportunity for any BTL investor looking to acquire three residential properties in one purchase, with two properties currently tenanted and generating an immediate rental income.
The rental accommodation comprises:
16 High Street – Two-bedroom house, currently vacant and advertised To Let at £595 PCM.
16A High Street – Two-bedroom flat, currently let at £550 PCM.
16B High Street – Two-bedroom flat, currently let at £500 PCM.
The two tenanted properties currently generate a combined rental income of £1,050 PCM (£12,600 per annum). Once the vacant house is let at the advertised rent, the portfolio has the potential to generate £1,645 PCM (£19,740 per annum), representing an attractive potential gross rental yield of 10.97% against the BUY IT NOW PRICE of £180,000.
The accommodation on offer briefly comprises:
16 High Street: Spacious lounge, kitchen, rear porch, two double bedrooms and family bathroom/WC.
16A High Street: Lounge, kitchen, two well-proportioned bedrooms and family bathroom/WC.
16B High Street: Spacious lounge/kitchen, two bedrooms and family bathroom/WC.
Externally, the properties benefit from a communal rear yard with gated access.
This is an exciting opportunity for any investor looking to acquire an established rental portfolio with immediate income and further rental potential. Offering three residential properties, an attractive potential gross rental yield and a BUY IT NOW PRICE of £180,000 + Auction Fees, early interest is anticipated and viewings strictly by appointment only.
EPC rating D, E, D.
For more information, please contact Moovd directly.
16 Lounge - 3.40 x 3.78 (11'1" x 12'4") - Double glazed window to front, radiator.
Kitchen - 3.45 x 3.78 (11'3" x 12'4") - Fitted with a range of base and wall units, contrasting work surface, built in electric oven and hob, extractor hood, plumbed for washing machine, single sink and drainer unit, double glazed window to rear.
Rear Porch - Double glazed door to rear, combi boiler.
Bedroom 1 - 3.48 x 3.27 (11'5" x 10'8") - Double glazed window to front, radiator.
Bedroom 2 - 3.47 x 1.97 (11'4" x 6'5") - Double glazed window to rear, radiator.
Bathroom - White suite including paneled bath, pedestal hand basin, low level WC, radiator, extractor fan.
External - Communal area, mainly paved, gated access.
16A Lounge - 3.79 x 4.23 (12'5" x 13'10") - Double glazed window to front, radiator.
Kitchen - 4.28 x 3.39 (14'0" x 11'1") - Fitted with a range of base and wall units, contrasting work surface, built in electric oven and hob, extractor hood, plumbed for washing machine, single sink and drainer unit, double glazed window to rear.
Bedroom 1 - 4.22 x 3.44 (13'10" x 11'3") - Double glazed window to front, radiator.
Bedroom 2 - 2.98 x 2.69 (9'9" x 8'9") - Double glazed window to rear, radiator, boiler.
Bathroom - White suite including paneled bath, pedestal hand basin, low level WC, radiator, extractor fan.
External - Communal area, mainly paved, gated access.
16B Entrance Hallway - Access to roof space.
Lounge/ Kitchen - 6.88 x 2.80 (22'6" x 9'2") - Lounge: Double glazed window to front, radiator.
Kitchen: Fitted with a range of base and wall units, contrasting work surface, built in electric oven and hob, extractor hood, plumbed for washing machine, single sink and drainer unit, double glazed window to rear.
Bedroom 1 - 4.31 x 2.37 (14'1" x 7'9") - Double glazed window to front, radiator.
Bedroom 2 - 3.92 x 2.29 (12'10" x 7'6") - Double glazed window to front, radiator.
External - Communal area, mainly paved, gated access.
IMPORTANT INFORMATION FOR BUYERS
Moovd Online Property Auctions work in partnership with letting/ estate agents and act as the Auctioneer throughout the sale process. Buyers should establish which auction method applies to the particular lot before making an offer or placing a bid.
OPTION A - UNCONDITIONAL ONLINE AUCTION (Traditional Auction)
Where a lot is offered by Option A - Unconditional Online Auction, the fall of the electronic gavel creates a legally binding contract between the seller and the successful buyer, subject to the applicable auction terms, Legal Pack and Special Conditions of Sale. The successful buyer is legally committed to the purchase and must complete within the period stated in the legal documentation. This is commonly 20 business days, but buyers must rely on the period specified for the individual lot.
The successful buyer will also be required to pay any reservation deposit, buyer's administration fee or other sums stated in the auction terms, property particulars, Legal Pack or Special Conditions of Sale. Buyers should have finance and professional advice in place before bidding. A failure to obtain finance after becoming legally bound will not, of itself, release a buyer from the contract.
For Moovd Unconditional Auction lots, the buyer is required to pay a non-refundable Administration Fee of £3,000 including VAT (£2,500 + VAT) and a Reservation Deposit of 10% of the purchase price, subject to a minimum of £5,000 or whatever is greater, or where those sums are stated as applicable to the lot.
Any additional seller charges or other fees will be identified in the Legal Pack and/or Special Conditions of Sale.
Buyers are deemed to bid in full knowledge of the above. Buyers must take their own advice on the tax treatment of fees, including SDLT.
Council Tax Band
A
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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- Option A - Moovd General Terms & Conditions – Online Unconditional Auction
- Option A - Moovd Amendments to Common Auction Conditions – Online Unconditional Auction
- Option A - Moovd Common Auction Conditions– Online Unconditional Auction
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