Block of flats for sale in Norfolk Street, Sunderland SR1

£1,300,000
Interested in this property? Call +44 191 563 0125 * or Request Details

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Block of flats for sale

13

Tenure:
Freehold
Council tax band:
Not available

Utilities and more details

Property features

  • Central heating
  • Allocated Parking

Property description

An incredible investment opportunity awaits serious property investors with this block of apartments and commercial units for sale in the heart of Sunderland's city centre. Situated on Norfolk Street, this property benefits from a prime location with future developments on the horizon, making it a promising investment.

The portfolio includes 14 self-contained apartments ranging from 1 to 3 bedrooms, each with their own separate entrances, meters, utilities, and boilers. Additionally, there is dedicated car parking at the rear of the building for convenience.

In addition to the apartments, the block features a ground floor commercial unit currently operating as a dance studio, as well as a rented basement storage unit. The building is fully compliant with fire safety regulations and has up-to-date gas and electric certifications, ensuring peace of mind for investors.

With an annual rental income of £121,000 from the current tenants, there is also potential to increase rents for the flats, offering a lucrative opportunity for growth. Nearby, you'll find Sunderland's Tyne and Wear Metro Station, Sunderland Station, St Peter's Station, as well as local schools such as Sunderland Children's Centre East, Hudson Road Primary School, and Dame Dorothy Primary School.
We have been advised that the rent review letters have been served and the combined rents could potentially increase to £127,000 per annum in coming months.

Don't miss out on this fantastic investment opportunity - schedule a viewing today to explore the potential of this property on Norfolk Street, Sunderland SR1.

Property info

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For more information about this property, please contact
Spire Property Group and Consultants, SR1 on +44 191 563 0125 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Spire Property Group and Consultants, and do not constitute property particulars. Please contact Spire Property Group and Consultants for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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