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3 bedroom semi-detached house for sale
Sherwood Park Road, Sutton, London, SM1
£425,000
Sherwood Park Road, Sutton, London, SM1
£425,000
Our Summary
- Potential to increase the rents with an Estimated Rental Value of £36,000 per annum
- Potential to add value through subdivision of Flat 1 and/or rear extension STPP
Description
This is an opportunity to acquire a freehold, income-producing residential investment property comprising two self-contained flats located in Sutton, within walking distance to West Sutton and Sutton train stations. The property measures 1,238 sq ft NIA and is currently fully let, producing an annual rent of £26,400. With an estimated rental value of £36,000 per annum, there is potential to increase the rents. The property is being sold at a significant discount to its breakup value and offers scope to add value through subdivision of one of the flats or a rear extension, subject to planning permission. The guide price is £425,000, reflecting a reversionary yield of 8.47% and a low capital value of £343 per sq ft based on the net internal area.