Lytham Road, Clarendon Park, LE2

£385,000
  • Ref: abd02a1b-1cc2-446e-86b4-036c1bda5704
  • Availability: For Sale
  • Bedrooms: 3
  • Bathrooms: 2
  • Reception Rooms: 2
  • Council Tax Band: A
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  • Floorplan

Property Features

  • Potential For Conversion To Single Home STPP
  • Stunning Roof Terrace
  • Stylish Kitchens And Modern Bathrooms
  • Rental Yield Of 4.68%/ National Average 3.36%
  • Two Leasehold Flats With Freehold
  • Flats Each With Private Entrances
  • Prime Investment Opportunity
  • Courtyard Garden With Storage
  • Period Features

Property Summary

With a potential rental yield of 4.68% and the current national average of 3.36% we are delighted to present a freehold investment opportunity for two...

Full Details

With a potential rental yield of 4.68% and the current national average of 3.36% we are delighted to present a freehold investment opportunity for two one bedroom apartments in the heart of fashionable Clarendon Park.

Property
END OF CHAIN

This property presents a rare opportunity to acquire two leasehold flats as well as the freehold for the property as a whole making it a wonderful investment opportunity. Having been successfully rented out for many years, these flats have further scope for future return of investment given the buoyant professional and student market Clarendon Park boasts. The potential yield could be 4.68% considering the national average of 3.36%.

The Victorian property is split horizontally creating two fully contained flats, each flat occupying one floor. Each flat benefits from its own private entrance, one from Fleetwood Road and the other from Lytham Road. The flats are similar in design and finish and have been excellently maintained by both the various tenants and owner since its purchase. There is gas central heating independent to each flat and double glazing to help fuel economy.

The ground floor flat which has private access through Fleetwood Road, boasts a large dining kitchen, with side bay window, which exudes scandi vibes with its abundance of light and neutral colour palette. The cream shaker style wall and base units with metrobrick tiled splashbacks and timber effect worksurfaces which perfectly complementing the timber effect flooring are fitted either side of the room. Appliances include a gas hob with a chrome extractor over, oven, integrated fridge and freezer and integrated slim line dishwasher. Further appliances and storage are found in the separate utility which has access to the outside. The purchaser will be drawn to the statement fireplace which sits centrally in the living room and boasts a bold blue surround juxtaposed with the understated but ornate hearth and mantle. A large double bedroom has use of the modern and stylish bathroom which comprises an angular P shaped bath with shower over and fixed shower screen, wash hand basin in a convenient vanity unit, and WC.

The entrance hallway, leading to the upper floor flat is accessed from Lytham Road. Adorned by its original Minton tiled floor, it's configured very similarly with large double bedroom and boasts identical kitchen units with a colourfully tiled splashback. The dining kitchen provides the ideal space for entertaining thanks to its open plan nature and double glazed doors leading to the roof terrace to the rear. The living room boasts a wall mounted fireplace and ample space for comfortable seating. The bathroom offers a bath with shower over and fixed shower screen, wash hand basin in a modern vanity unit, chrome heated towel rail, and WC. An additional room to the front offers space for a home office or more storage.

Above the upper floor is a large attic space providing excellent scope for conversion, subject to permission, into further accommodation within a family home or creating a duplex upper flat.

Outside
The property is accessed directly off the pavement outside on either Fleetwood Road or Lytham Road with the surrounding streets providing on road parking for residents.

The ground floor flat enjoys use of the low maintenance courtyard garden. The upper floor flat benefits from a stunning roof terrace, fully decked to provide an outside escape and views over the pretty neighbourhood.

Each flat has its own individual brick built outbuildings for storage.

Location
This home is nestled in the highly fashionable suburb of Clarendon Park on the quiet Lytham Road which lies approximately a mile to the south of the city centre. The sought after area surrounding offers local day-to-day shopping while an abundance of trendy bars, restaurants, and cafes can be found on Queens Road and Clarendon Park Road, just a minute's walk away.

The city centre, professional quarters and mainline railway station with fast services to London St Pancras are only a short distance away, across Victoria Park and down the leafy New Walk. The property is also excellently situated for both of Leicester's universities and Leicester Royal Infirmary while the suburb is well served by renowned schooling for all ages with excellent comprehensive and independent provisions. The suburb's location, reputation, and ease of access to many amenities creates a buoyant student and professional rental market with properties in this area commanding a premium. The long-term popularity of the suburb is reflected in speed at which these flats rent out and the price achieved.

Viewings and Directions
Strictly by appointment only through the sole agent Oliver Rayns as we must liaise with tenants.

Postcode for Sat Nav: LE2 1YD