Modern Apartment Investment Property For Sale in Croydon, Surrey, CR0

This property is marketed by:
Bonsors / SHW

Residential Apartment Building Investment Property in Croydon For Sale £3,800,000

Key Features

• Fully let and income-producing freehold residential investment comprising part new build and part extended/converted block consisting of 16 modern apartments and 3 car parking spaces.
• Combination of studios, one-bed and two-bed apartments.
• Established Croydon location with access to local retail, leisure and transport amenities, supporting strong private rental demand.
• Completed in 2020.
• All units have EPC ratings ranging from B to C.
• Fully let on assured periodic tenancies, producing a gross income of £249,660 per annum.
• Seeking offers IRO £3,800,000 for the Freehold interest, subject to contract and the existing tenancies. A purchase at this level reflects a gross yield of 6.57%.

Description

The subject property comprises a residential block providing 16 apartments, arranged as 6 studios, 5 one-bedroom apartments and 5 two-bedroom apartments. The property is arranged as a terrace-style block fronting Gloucester Road, with accommodation over ground, first and second/roof levels. The building is of traditional masonry construction beneath a pitched tiled roof, with dormer and rooflight accommodation at upper level. Internally, the apartments provide practical, modern accommodation with fitted kitchens, contemporary bathroom fittings, with wood and carpet flooring throughout. The property also benefits from three rear car parking spaces, dedicated bin storage and ancillary external areas, with each apartment understood to be separately serviced and individually metered.

Location

The property is located in Croydon, a long-established metropolitan centre in South London with strong connectivity across Greater London and the wider South East. Positioned within the London Borough of Croydon, the area benefits from access to Central London, Gatwick Airport and surrounding residential and commercial centres. Croydon provides a broad range of shops, services and amenities, with the town centre offering extensive retail, leisure and food and beverage provision. Key amenities are focused around North End, Centrale and Whitgift, together with a wider mix of restaurants, cafés, gyms, supermarkets and everyday services. 212–218 Gloucester Road is situated within an established residential area to the north of Croydon town centre, with convenient access to local amenities and the wider transport network. Selhurst Station is approximately an 8-minute walk from the property, while East Croydon and West Croydon stations are both around a 16–18 minute walk away, providing access to Central London and the wider commuter network.