£140,000 /Sale price

A great opportunity to purchase this freehold property, comprising of 2 self-contained flats with additional lock up shop. The property would generate approximately 13.5% gross yield per annum and may suit as part of a pension portfolio. Freehold Investment Opportunity in the Heart of Ilfracombe (business unaffected).A chance to acquire this well-located mixed-use freehold property, situated in the centre of Ilfracombe. The building comprises a ground floor lock-up retail unit and two self-contained residential flats above.Access to the flats is via a separate entrance leading to a communal hallway. The first floor offers a self contained one-bedroom flat, currently tenanted. The upper two floors feature a spacious three-bedroom maisonette, which requires refurbishment before being re-let.Current & Projected IncomeRetail Unit (Ground Floor) Let at £350 pcm / £4,200 pa1-Bed Flat (First Floor) Let at £485 pcm / £5,820 pa3-Bed Maisonette (Top Floors) Estimated rental income £750 pcm / £9,000 pa once renovatedProjected Total Rental Income: £17,220 per annum. Estimated Gross Yield: Approximately 12% per annumAdditional InformationCouncil Tax Band: 'A' for both flatsEPCs: Available for both flats (Shop EPC pending)Tenure: FreeholdBusiness Rates (Retail Unit)Rateable Value: £4,400 (as of April 2023)UBR: 49.9p in the £ May qualify for 100% Small Business Rate Relief (RV under £12,000) applicants should verify with the Valuation Office Agency