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£749,500
Bedrooms
Bathrooms
Reception
Adams Estates are proud to offer a rare and highly attractive opportunity to acquire a fully tenanted block of three self-contained apartments on the sought after Cumberland Road in Reading generating an impressive annual rental income of ?38,040.00. This well-maintained freehold property comprises of
two spacious 2-bedroom apartments
and one well proportioned 1-bedroom apartment.
All three flats are currently let with reliable tenants in situ, providing a turnkey investment for any portfolio buyer or investor seeking strong and immediate returns.
Each apartment benefits from: Private garden space a rare luxury in apartment living, offering outdoor areas for relaxation and tenant appeal
; allocated gated parking secure and convenient off-road parking;
modern amenities including double glazing and gas central heating throughout
. The interiors of all units are well-presented, offering bright, practical layouts ideal for professional tenants or small families.
The building itself is smartly maintained and positioned in a quiet residential area with strong local rental demand.
Cumberland Road provides excellent transport links and local conveniences. Situated within easy reach of Reading town centre, Reading Station (with direct trains to London Paddington),
University of Reading and Royal Berkshire Hospital. Furthermore, this location also benefits from
a range of shops, cafes, and essential amenities within walking distance as well as
the green open spaces of Palmer Park and highly rated local schools nearby.
With its strong rental yield, secure gated parking, private outdoor spaces, and a sought-after Reading location, this block of apartments represents a rare chance to secure a fully-let and income producing asset in one of Berkshire`s most dynamic markets.
Please feel free to contact us today to arrange a viewing or request further financial information.
Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Purchasers must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Council Tax
Reading Borough Council, Unknown
Utilities
Electric: Mains Supply
Gas: None
Water: Mains Supply
Sewerage: None
Broadband: None
Telephone: None
Other Items
Heating: Gas Central Heating
Garden/Outside Space: Yes
Parking: Yes
Garage: No
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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