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6 bed Apartment property

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For Sale

Listed Mar 12, 2024

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£575,000

Available

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020 7625 9007

By Auction House London

Description

" Guide Price £575,000

For Sale By Public Auction 12th March 2024 08 45 AM To inspect the legal documents for this property go to our website to download the legal pack

A Residential Investment Comprising Two Self Contained Three Bedroom Flats over the First and Second Floors. When Fully Let on Nightly Rents the Total Combined Income is £72,270 Per Annum. A Third Flat on the Third Floor is Sold Off with a Ground Rent of £50 Per Annum.

Tenure
Leasehold. Both flats are held on a 125 year leases from 1st May 1988 thus approximately 90 years unexpired .

Location
The property is situated on Malvern Road close to local shops and amenities. The open space of Paddington Recreation Ground is within easy reach. Transport links are provided by Maida Vale underground station Bakerloo line and Queen‘s Park rail station.

Description
The property comprises two self contained three bedroom flats over the first and second floors with a total combined GIA of approximately 1,222 sq ft.

Accomodation Schedule

Property	Floor	Accommodation
Flat 1	First	Three Bedrooms, Communal Kitchen and Bathroom
Flat 2	Second	Three Bedrooms, Communal Kitchen and Bathroom
Flat 3	Third	Sold off on a lease from 5th February 997 expiring on 5th January 2113 at a rent of £50pa rising to £250pa

Tenancy
The two self contained flats are currently let on a nightly basis with an income of £72,270 per annum assuming full occupancy each night .

Viewings Strictly by Appointment Only Video Walkthrough Available "