15 bed flat for sale

Tudor Parade, Marlowe Road, Clacton-On-Sea CO15

** sold prior to marketing ** A unique investment opportunity comprising 5x three bedroom split level maisonettes being sold with a new long Lease of 250 years. 4 of the 5 properties are currently let with a potential yield at full occupancy of circa £53,000 pa.

Location

The property is situated on the north side of Marlowe Road at its junction with Jaywick Lane in a predominantly residential area on the west side of Clacton-on-Sea approximately 0.5 miles to the coast with Colchester being approximately 20 miles to the North-West.

Schedule Of Accommodation

3a - 3 bed maisonette - 808 Sq Ft - £750pcm
4a - 3 bed maisonette - 808 Sq Ft - Vacant (estimated £950pcm)
5a - 3 bed maisonette - 808 Sq Ft - £950pcm
6a - 3 bed maisonette - 808 Sq Ft - £900pcm
7a - 3 bed maisonette - 808 Sq Ft - £900pcm

Total current rent - £3,500pcm
Total projected rent - £4,450pcm

Tenure

Long Leasehold by way of new 250 year lease.

Outgoings

Total outgoings (including ground rent, service charge & insurance) - £2,000 pa per flat

Epc

3a - D
4a - D
5a - C
6a - D
7a - D