3 bed flat for sale

Woods Terrace, Murton, Seaham SR7

Summary

Attention investors - two tenanted apartments - for sale via online auction

An excellent opportunity to acquire two self-contained apartments, a one-bedroom and a two-bedroom flat, both sold with long-term sitting tenants in situ, providing an immediate rental income from completion.

The properties currently generate a combined rental income of 770 pcm (8,240 per annum), with Flat 9A achieving 395 pcm (4,740 per annum) and Flat 9B achieving 375 pcm (4,250 per annum), making this an ideal buy-to-let investment with established tenants already in place.

Situated on High Street, Woods Terrace, Murton, Seaham, the apartments are conveniently located within easy reach of local shops, amenities, schools, public transport links, and excellent road connections.

Each self-contained apartment briefly comprises an entrance hallway, a spacious open-plan lounge, dining and kitchen area, a double bedroom, and a bathroom. Both properties have been well maintained by the current tenants, offering a hassle-free investment opportunity with reliable rental income from day one.

This is a fantastic opportunity for investors looking to expand their portfolio with a ready-made investment in a popular residential location

Council Tax Band: A
Tenure: Leasehold
Length of Lease: 108

Auctioneers Additional Comments

Pattinson Auction are referred to as The Auctioneer. This auction lot is being sold by either conditional (Modern) or unconditional (Traditional) auction terms and overseen by The Auctioneer. The method of auction sale and the applicable terms and conditions are found on the lot page of this property on The Auctioneers website. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details to be shared between any marketing agent and The Auctioneer so that matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid, all bidders must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and The Auctioneer and will typically be within a range above or below 10% of the Guide Price or Starting Bid. These prices are subject to change. An auction can be closed at any time, with The Auctioneer permitting the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this property is available to view upon request and contains details relevant to the legal documentation, enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and The Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.