St James Road, St James, Hereford

£655,000

Guide price

  • Bedrooms: 7
**INVESTMENT OPPORTUNITY - six modern 1 & 2 bed flats with annual gross return of circa 6%** Exciting opportunity to purchase a FREEHOLD period property converted in 2015 to a well maintained apartment block located in the popular residential area of St James. With six apartments in total, one with two bedrooms and the remaining with one bedroom. There are four off road parking spaces and two residential parking permits. All apartments are currently occupied achieving £3100 pcm/£37,000 pa

Introduction

Converted in 2015 is this period property consisting of 6 modern properties all of which are neutrally decorated and finished to a high standard. There is an internal communal area and stairs for Flat 1, 3-6, and Flat 2 has its own private entrance. All windows are double glazed and all fitted with gas central heating.

Property description

Flat 1 - This is a split level two bedroom property with living room/kitchen area fitted with single oven, hob, fridge and washer/dryer, bedroom one with en-suite shower room, bedroom two is on the lower ground floor big enough for a double bed, and a separate shower room serving the second bedroom. A further room is accessible from the lower level, currently used as storage.

Flat 2 - This has its own private side entrance, with living room and separate kitchen area fitted with single oven, hob, fridge and washer/dryer, shower room and double bedroom.

Flat 3 - Located on the 1st floor, with open plan living room and kitchen, fitted with single oven, hob, fridge and washer/dryer. With double bedroom and en-suite shower room.

Flat 4 - Also located on the first floor with similar layout to Flat 3 however, boasts the additional feature of the bay window to the front.

Flat 5 - Located on the second floor directly above Flat 4, with a large bay window, open plan living room and kitchen fitted with single oven, hob, fridge and washer/dryer. With double bedroom, with fitted cupboards and en-suite shower room.

Flat 6 - Located on the 2nd floor at the rear of the building with open plan living room and kitchen fitted with single oven, hob, fridge and washer/dryer. A double bedroom with en- suite shower room.

Gardens and parking

Flat 1 has an allocated parking space to the front of the property. Flat 2 - 4 have one parking space each to the rear of the building. Flat 5 & 6 are entitled to one parking permit each.

There is an allocated bin store in the parking area to the rear.

Agents note

Cobb Amos have fully managed the apartments since conversion and the current landlords have maintained the building well over the last 6 years including some recent roofing & chimney repairs. All flats are currently tenanted with 5 on periodic tenancies and 1 on a fixed term until November. The rents are currently being assessed and modest increases are likely over the next few months. The Annual income of £37,000 is a return of nearly 6% gross. Most of the tenants have been in the property for some time and the turnover & void periods between tenancies is very low due to the quality and location of the properties.

Location

The apartment is just a few minutes walk from all of the local amenities in Hereford's City centre including the Cathedral, King George V Playing Fields, Swimming Baths and Leisure Centre, lovely riverside walks. Hereford city has recently had the fantastic Old Market development with Waitrose supermarket, a range of restaurants and department stores and a six screen Odeon cinema.

Services & tenure

All mains services are connected.

Freehold

CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008 (CPR) We endeavour to ensure that the details contained in our brochure are correct through making detailed enquiries of the owner but they are not guaranteed. The agents have not tested any appliance, equipment, fixture, fitting or service and have not seen the title deeds to confirm tenure. All measurements are quoted to the nearest 1/10 metre. All liability in negligence of otherwise for any loss arising from the use of these particulars is hereby excluded.

Arrange viewing 01432 507160

Cobb Amos

14 King Street, Hereford, Herefordshire

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