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Splott Road, Cardiff CF24 5 bed end of terrace house for sale
Splott Road, Cardiff CF24
£225,000
Splott Road, Cardiff CF24
£225,000
Our Summary
- FOR SALE BY PUBLIC AUCTION: The auction will take place online on 29th April 2025 at 04:09 PM with registration through our website
- The property itself is in reasonable order but would benefit from decorative improvement throughout
- We are informed that the current rental income is £2250pcm (£27,000pa) however there is room for rental improvement here in our opinion subject to some improvement works
- To the rear of the building is a large rear yard which couple have further development potential subject to any necessary consents and benefits from a secure private lane access from Railway street
- The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price
- Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction
Description
This three-storey investment property in a popular area is arranged as three apartments with a large rear yard accessible via a private lane. The property is in reasonable order but would benefit from decorative improvement throughout. The building is currently generating £27,000 per annum in rental income, representing an initial gross yield of 12%. The property has a full height basement with direct access to the rear yard, which has potential for further development subject to necessary consents. The apartments are 2 x two-bedroom, 1 x one-bedroom, and there is a communal hall, kitchen/living area, and shower room on each floor. The property is being sold as a freehold, and the buyer will need to pay a buyer's premium and any further disbursements on completion. The guide price for the property is not disclosed, but the reserve price will be within 10% of the guide price. Viewings are available by appointment with the auctioneers, Seel and Co.