3 and 3a Valentine Street, Norwich, Norfolk

Description

An excellent investment opportunity comprising two self-contained two bedroom flats, both currently let and producing a combined rental income of £18,366 per annum. Each flat provides well-proportioned accommodation comprising two bedrooms, lounge, kitchen and bathroom, offering an established income from the outset with potential for future rental growth, subject to the existing tenancy arrangements. A particularly valuable feature is the rear garden and off-road parking, a significant benefit for a property in such close proximity to Norwich city centre where private parking is at a premium.

Accommodation

Ground Floor Flat: Hall accessed from front elevation, 2 bedrooms, lounge, kitchen/breakfast room and bathroom. First Floor Flat: External staircase to rear with balcony, kitchen, bathroom, 2 bedrooms and lounge.

Location

Close to Norwich city centre.

Tenure / Property Information

Investment Analysis

Two self-contained two-bedroom flats, freehold, currently let at combined rent of £18,366 annually. The supplied guide range is £225,000–£250,000. No completed sales or external rental comparables were supplied, so an independent GDV cannot be established.

Investment Snapshot

Strategy Recommendation

Consider as an income-led BTL acquisition, subject to tenancy, legal-pack, condition and compliance due diligence. Do not rely on capital-growth or BRRR assumptions without further evidence.

Works Required

No refurbishment works are evidenced. Verify condition, compliance, tenancy documentation and legal-pack requirements before bidding.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no supported GDV, refurbishment allowance or financing assumptions are available. The known £720 buyer premium and £1,200 administration charge should be included in any detailed appraisal, alongside legal-pack disbursements.

Buy-to-Let Analysis

The stated combined rent is £18,366 annually (£1,530.50 pcm). Gross yield is approximately 8.16% at the £225,000 guide and 7.35% at £250,000, before finance, maintenance, voids, management, tax and auction costs. Existing tenancy arrangements require review.

Flip Analysis

A flip appraisal cannot be supported because no completed sales, GDV, refurbishment costs or selling-cost allowance were supplied.

Investor Risks & Due Diligence

• Existing tenancy arrangements require verification.

• No condition or refurbishment information is supplied.

• Auction buyer premium and administration charge apply, with possible additional legal-pack disbursements.

• No independent sales or rental comparables were supplied.

• Gross yield excludes finance, operating costs, voids, tax and management costs.

Recommendation

Consider as an income-led BTL acquisition, subject to tenancy, legal-pack, condition and compliance due diligence. Do not rely on capital-growth or BRRR assumptions without further evidence.

Strategy Rating

Analysis Confidence

Current rent, tenure, accommodation and guide range are supplied, but there are no sales comparables, external rental comparables, condition details, refurbishment costs or GDV evidence.