Lot 17 - 10 Azalea Terrace North, Sunderland, Tyne and Wear, SR2 7ES
- Unconditional Online Auction Sale
- Guide Price* : £65,000 Plus
ON BEHALF OF RECEIVERS : House converted into 1 house and 1 flat (part let and part vacant) with potential for a gross annual equivalent income of £9,000
Description
The property comprises a substantial two storey mid terraced house, which has been extended to the rear by way of a single storey extension. The property has been converted to provide a one bedroom flat to the ground floor, with a 5 bedroom house to the ground floor extension, first floor and attic. The main house is let at £450 per month and the flat is understood to be vacant. Subject to any necessary repairs being carried out and the remainder subsequently being let at the at £300 per month the property has the potential to produce a gross annual equivalent income of £9,000.
Location
Approximately 0.5 miles from the city centre in an established area for rental accommodation. The property is positioned on Azalea Terrace, which provides access to Tunstall Road and the A1231 inner ring road. The main A19 is located 4 miles to the south west and junction 63 of the A1(M) lies 8.5 miles to the 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
Ground Floor Flat : Not inspected but we are informed it comprises lounge/kitchen, bathroom and bedroom.
Remainder: lounge and kitchen to the rear extension with a staircase leading up to a landing area with a w/c leading from this alongside 3 double bedrooms. There is a further staircase leading to a family bathroom alongside two further double bedrooms to the attic conversion.
We detail the following approximate areas:
Part Ground Floor : 30.03 sq.m (323 sq.ft) - Note extension part was accessible so excludes flat
First Floor: 76.55 sq.m (824 sq ft)
Attic: 42.91 sq m (462 sq ft)
Outside
Small enclosed yard to the front, and further yard to the rear which is also separately accessed through a steel roller shutter via an alleyway to the rear.
Tenancies
The main house is let at £450 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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