Residential Investment Skegness PE25

Guide Price £295,000. This substantial detached building, located near the seafront, is divided into 8 x 1 bedroom self contained flats over three floors. The building is currently generating an income of around £37,140 per annum with 5 flats currently let. Although some of the tenants are longer standing and paying £475/£550pcm, the new rents are now at £580/£600pcm with potential to generate between £55,000-£57,000 per annum. Each flat comprises living kitchen, bedroom and shower room and six of the flats have access to a parking space at the front or rear of the building.