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8 bed Apartment property

Available

For Sale

Listed Jul 16, 2025

Save Frinton-on-sea area

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£275,000

Available

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Description

"FOR SALE BY PUBLIC AUCTION ON WEDNESDAY, 26TH FEBRUARY 2025 AT 12.00PM. LIVE STREAMED VIA DEDMAN GRAY WEBSITE. BIDDING AVAILABLE BY TELEPHONE, PROXY AND ONLINE

BUY TO LET INVESTMENT 3 x APARTMENTS WITH INDIVIDUAL LEASES AND A 50% SHARE OF THE FREEHOLD PART LET WITH POTENTIAL ANNUAL INCOME OF OVER £28,000
Three residential apartments within a block of six with large communal gardens with far reaching field views in a very sought after location within Frinton on Sea. Each flat comes with its own garage and the seller informs us that the combined gross rental income when fully let was £2335 per month £28,260 per annum which represents a yield of 10.2% of the guide price. We understand Flat 4 is now vacant however it is considered with some improvements if re let it could achieve a significantly higher rent than it previously did.
4 Marylands 3 Bedroom Flat 1625 sq.ft.
5 Marylands 2 Bedroom Flat 904 sq.ft.
6 Marylands 3 Bedroom Flat 1399 sq.ft.

The flats are situated on grounds that extend to 0.8 acres and the flats offer far reaching field views.
Flat 4 Vacant previously achieving £900 per month £10,800 per annum
Flat 5 £780 per month £9360 per annum
Flat 6 £675 per month £8100 per annum

Previous Total £2355 per month £28,260 per annum
Current Total £1455 per month £17460 per annum

We are advised that the freehold of the building is owned by the leaseholders in equal shares meaning this sale will include 50% ownership of the freehold.
We are advised by the seller that the annual service and buildings insurance charges for all 3 flats combined are £7925 per annum approximately

Flat 4 C
Flat 5 C
Flat 6 E"