Lot 18 - 6 The Oaks, Sunderland, Tyne and Wear, SR2 8EX
- Unconditional Online Auction Sale
- Guide Price* : £145,000
Addendum
Flat D is let at £425 per month.
ON BEHALF OF RECEIVERS: House converted into 4 flats (part let and part vacant) with potential for a gross annual equivalent income of £22,560
Description
The property is currently part let, with 2 flats let and 2 vacant. It is currently generating a gross income of £900 pcm (£10,800 per annum) with the potential to increase this upon further lettings being achieved.
Location
Approximately 0.5 miles from the city centre in an established area for rental accommodation. The property is positioned on The Oaks, which appears to be a private access lane leading from Mowbray Road which provides access to the main A1231 ring road. The main A19 is located 4 miles to the west and junction 64 of the A1(M) lies 9 miles to the north west. Sunderland Railway Station is located less than a mile from the property and provides links to Newcastle and the wider rail network.
Tenure
Freehold.
Accommodation
Flat A: Lower Ground Floor - kitchen/lounge, two double bedrooms and a bathroom (in shell condition and requires significant refurbishment works)
Flat B: Ground Floor - Not inspected and understood to be two bedrooms.
Flat C : First Floor - lounge/kitchen, two double bedrooms and a bathroom.
Flat D : Attic Floor - lounge/kitchen, double bedroom and bathroom.
We detail the following approximate areas:
Flat A: 64.76 sq.m (697 sq.ft)
Flat B: Not Inspected
Flat C: 57.64 sq.m (620 sq.ft)
Flat D: 53.32 sq.m (574 sq. ft)
Outside
Lawned garden to the front, . To the rear is a further enclosed lawned garden alongside a double garage which is accessed via the rear from Toward Road.
Tenancies
Flat C is let at £475 per month.
Flat D is let at £425 per month.
Buyers Administration Fee
There will be a Buyer's Administration Fee of £1,800 (inc VAT) payable upon exchange of contracts.* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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