Property Ref: 7993
23 Castle Street is well located to the East of Kendal Town Centre on the corner of Castle Street and Gandy Street...
The property presents a fantastic investment opportunity with a yield of 8% and is offered for sale with full, tenanted occupancy. The property is comprised of 7 residential flats (1 Basement, 2 on ground/first/second floors), all flats are currently let (£375-425 each). Total monthly rent = £2,800 or £33,600 / year.
Flat 1 (Basement) is accessed at the rear of the property via a private entrance, with Flats 2-7 accessed via the front door, communal hallway, and stairwell.
Each flat is part-furnished and offers compact living accommodation with a combined Kitchen/Lounge, Bedroom and Bathroom including shower/toilet/washbasin. All flats have separate meters for electricity, gas, and water. Flats 2-7 have an intercom and remote door unlocking for the main front door of the property.
There are small yards at both the front and rear of the property.
The property underwent significant refurbishment in 2005/6 and has been well maintained subsequently.
Assured shorthold tenancies are in place - 6 months initially, then statutory periodic tenancy with 1-month notice.
Flat 1 - tenant since 22/03/2020
Flat 2 - tenant since 02/11/2020
Flat 3 - tenant since 18/03/2014
Flat 4 - tenant since 03/11/2014
Flat 5 - tenant since 21/06/2018
Flat 6 - tenant since 07/11/2018
Flat 7 - tenant since 04/06/2008
The property is offered for sale due to the current owners wish to retire...
Address: 23 Castle Street , Kendal, LA9 7AD.
Offers in the region of: £420,000
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Property Type: Semi-detached
Living Room(s): 6+
Address: 23 Castle Street , Kendal, LA9 7AD
Close to Train station
Gas Central Heating