Albemarle Crescent, Scarborough Guide price £650,000

FREEHOLD investment block of eight self-contained flats presents a remarkable opportunity for a keen investor. The building is aimed at tenants aged 55 and over and is a mix of six, two bedroom flats and two one bedroom units that have the benefit of a lift to the main floors.

The town centre location means that all essential amenities, including shops, restaurants, and public transport, are just a stone's throw away, enhancing the appeal for potential tenants.

With a low turnover of tenants, this investment block promises stability and a reliable income stream, making it an attractive proposition for investors looking to expand their portfolio. The combination of a prime location, a well-maintained building, and a dedicated tenant demographic makes this property a sound investment choice.

The building
This five storey double fronted building is arranged with eight self contained flats and has the benefit of a lift to the main floors. Each flat has the benefit of UPVC double glazed windows and a modern electric heating system with a landlords supply for the communal areas.

Ground Floor

First Floor

Second Floor

Third Floor

Fourth Floor

Tenure
Freehold. Sold with the benefit of the Assured Shorthold Tenancies in place.

Rental Income
Flat 1 – £500 pcm – 2 Bed
Flat 2 – £500 pcm – 1 Bed
Flat 3 – £525 pcm – 2 Bed
Flat 4 – £500 pcm – 1 Bed
Flat 5 – £495 pcm – 2 Bed
Flat 6 – £475 pcm – 1 Bed
Flat 7- £600 pcm – 2 Bed
Flat 8 - £600 pcm – 2 Bed

Currently generating a gross rental income of £50,340 per annum.

Viewing
Strictly by appointment via sole agents Colin Ellis Property Services on 01723 363565

To view all our current commercial listings please visit www.colinellis.co.uk