33-33a Montefiore Road, Hove
Property Features
- Investment Property
- Producing £61,900 PAX
- Commercial & Residential Investment
Property Summary
OIRO £750,000 FH
Full Details
The property comprises of a ground floor commercial unit currently being re-let on a new FRI lease for £16,000pa.
To the ground floor rear is a self-contained 1x bedroom flat let for £1,200pcm, the uppers parts are arranged as a 4x Bedroom HMO producing rents of R1 £700pcm, R2 £675pcm, R3 £600pcm, R4 £650pcm. Collective residential income of £3,825pcm / £45,900pa
The total combined income for the building is £61,900 per annum.
Location
The property is located on the corner of Montefiore Road and Addison Road, Hove just across from the Montefiore Hospital with street car parking outside the building.
Viewings
Viewings can be arranged via the vendors Sole Agents - Newlands Property
Terms
Offers are invited in the region of £750,000 for the freehold interest, subject to the existing tenancies in place. A purchase at this level would reflect a net initial yield of circa 7.83% after allowing for purchase costs.
Available Area
| Name/Floor | Sq Ft | Sq M | Price | Availability |
|---|---|---|---|---|
| g Retail | 427 | 39.67 | On Application | Available |
| g GF Flat | 441 | 40.97 | On Application | Available |
| 1st FF/ SF Maisonette | 1,120 | 104.05 | On Application | Available |
| Total | 1,988 | 184.69 |