9 bedroom block of apartments for sale

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9 bedroom block of apartments for sale

West Road, Lancaster LA1
£580,000

Our Summary

  • Quite simply an outstanding investment opportunity with a near 12% annual gross return
  • In terms of this property and its rental potential, with the city hosting not only Lancaster University itself but also the University of Cumbria, Lancaster campus there should always be a healthy supply of potential occupants

Description

<|start_header_id|>assistant<|end_header_id|> Here is a summary of the property description in a single paragraph without a list: This is an outstanding investment opportunity in Lancaster, comprising three apartments with nine bedrooms, fully let for 2025-26 and generating a gross annual return of circa £68,000. The property is in superb condition, having been renovated diligently and beautifully by the present owners, and features a lovely rear yard/garden and driveway parking for two cars. The location is perfect, with the train station, bus station, and city centre amenities within easy reach. The property has been managed successfully by a reputable property manager and has excellent EPC ratings. The annual gross return is approximately 12%, with a net return of almost 10% after expenses. The property is freehold and has a secure and well-maintained design, with features such as a security access system, fire risk assessment, and new smart TVs and furniture.