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Monks Road, Lincoln LN2 5LG

£175,000

Monks Road, Lincoln LN2 5LG

3 Bedrooms

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Status Available
Price Qualifier Default
Property Type Flat / Apartment (Flat)
Tenure Type Freehold
Transaction Type Resale
New Home? No

Features

  • INVESTMENT PROPERTY
  • TWO separate flats
  • One Bedroom Ground Floor
  • Two Bedroom First Floor
  • Off street parking

Property description

This investment property is split into two flats and benefits from off road parking.

The GROUND FLOOR FLAT is entered via its own uPVC door and comprises:

Entrance Hall, Kitchen, Boiler Room, Living Room, Bedroom, Bathroom.

The ground floor flat is currently vacant but being marketed to obtain a new tenant at a rental figure of £440 per calendar month or £5280 per annum. 

The FIRST FLOOR FLAT is accessed by its own door leading to an entrance hall and stairs to the first floor and comprises: Living Room, Kitchen, Bathroom,

Bedroom One and Bedroom Two to the Second Floor. The first floor flat was let on an Assured Shorthold Tenancy from January 2019 at a figure of £500 per calendar month or £6,000 per annum. Both flats are producing an overall income of £11,280 per annum which gives a return of just under 6%.

SERVICES Mains electricity, water, drainage and gas are connected to the property. Central heating is provided to a radiator system from a gas fired boiler. The property is double glazed throughout. None of the service installations within the property have been tested

TENURE We understand that the property is freehold.

VIEWING Strictly by prior appointment through the Agents office on 01522 525255

ANTI MONEY LAUNDERING King & Co are required to formally identify all parties to a transaction and will therefore, when negotiating a Sale, require to see proof of identification, e.g. Passport or Driving License / Utilities Bill, to conform with the Money Laundering Regulations 2003 and the Proceeds of Crime Act 2002  

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