23 Northumberland Avenue, Blackpool, Lancashire

Description

A terraced building comprising 5 x one bedroom flats. The property is in need of modernisation and externally benefits from a rear yard. Well located for the local and recreational amenities of Blackpool. Investment let at £9,720 per annum plus vacant possession of three flats.

Accommodation

5 x one bedroom flats

Location

Located on Northumberland Avenue between Welbeck Drive and Holmfield Road. Local amenities can be found on Holmfield Road, Dickson Road and Devonshire Road. Recreational amenities of Blackpool North Shore Golf Club, North Shore Beach and Claremont Park are easily accessible. Blackpool North National Rail station is available.

Tenure / Property Information

Investment Analysis

The £155,000 guide equates to approximately £31,000 per flat, but no completed-sale comparables or formal valuation evidence is supplied. Current documented income is £9,720 per annum, with three flats vacant. No sufficiently specific rental evidence is available to assess the vacant flats or full-building market value.

Investment Snapshot

Strategy Recommendation

Proceed only with detailed due diligence on the three vacant flats, refurbishment scope, compliance and achievable rents. On the supplied evidence, avoid relying on a quantified BRRR or flip strategy.

Works Required

Modernisation of the building and flats is required. The supplied evidence does not specify individual defects, services, compliance works or a refurbishment scope, so no reliable cost allowance can be calculated.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed reliably. The building requires modernisation and has three vacant flats, but no refurbishment budget, full-rent evidence, GDV or refinance valuation is supplied. The current income alone does not support a quantified refinance case.

Buy-to-Let Analysis

The documented income is £9,720 per annum, producing a current gross yield of approximately 6.27% against the £155,000 guide. This is not a stabilised whole-building yield because three of the five flats are vacant and no rental evidence is supplied for them. Operating costs, finance costs, buyer costs and refurbishment costs are also unavailable.

Flip Analysis

A flip appraisal cannot be completed because there are no completed-sale comparables, GDV evidence, refurbishment costs or selling-cost allowance. The guide price should not be treated as market value.

Investor Risks & Due Diligence

• Three of the five flats are vacant, creating reletting and income uncertainty.

• The building is stated to require modernisation, but the extent and cost of works are unknown.

• No sufficiently specific external rental comparables are supplied.

• No completed-sale comparables or formal market valuation evidence is supplied.

• EPC, council tax, heating and parking information are not supplied.

• Buyer, administration and other auction fees are not supplied.

Recommendation

Proceed only with detailed due diligence on the three vacant flats, refurbishment scope, compliance and achievable rents. On the supplied evidence, avoid relying on a quantified BRRR or flip strategy.

Strategy Rating

Analysis Confidence

Only the guide price, freehold tenure, current annual income, flat count and broad modernisation requirement are supplied. There are no comparables, rental evidence for vacant units, refurbishment costs, EPC, operating costs or auction fees.