Grove Road, Lowestoft, NR32 3 bed block of apartments for sale

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Grove Road, Lowestoft, NR32 3 bed block of apartments for sale

Grove Road, Lowestoft, NR32
£230,000

Price History

Initial price £275,000
19/03/24 £250,000
20/03/24 £275,000
21/03/24 £250,000
16/10/24 £240,000
28/03/25 £230,000
Price Change -16.36%

Description

This prime investment opportunity in the heart of Lowestoft features three separate flats, each with tenants in situ, offering a good yield potential of up to 6.7%. The property is situated within walking distance to the town centre, with local amenities, beaches, and Victorian seafront gardens nearby. The flats have been well-maintained and offer a convenient investment option. Flat 1 has a lounge, bedroom, and kitchen, with a bathroom and lobby. Flat 2 has a lounge, bedroom, and kitchen, with a bathroom. Flat 3 has a bedroom and kitchen, with a shower room. Each flat has its own unique features, with potential to increase rental income. The property is currently achieving £525pcm, £490pcm, and £425pcm respectively, but has the potential to achieve up to £550pcm, £525pcm, and £475pcm. This is a fantastic opportunity for savvy investors to generate a strong return on investment.