61 Sandstone Drive, Sheffield, South Yorkshire, S9 1DY

Description

Available at auction is this semi-detached property which has been converted into two self-contained one bedroom apartments, offering an attractive investment opportunity with both units currently occupied. The lower apartment is currently let at £850 per calendar month, with the upper apartment achieving £800 per calendar month, producing a combined gross rental income of £1,650 per month, or £19,800 per annum. The property is situated in a quiet cul-de-sac in a residential area of Sheffield ideally located for access to Meadowhall and the M1 corridor. With two separate rental properties and an established rental income, the property will appeal to investors looking for an existing income producing opportunity.

Accommodation

Two self-contained one bedroom apartments: lower apartment and upper apartment.

Location

Situated in a quiet cul-de-sac in a residential area of Sheffield, with access to Meadowhall and the M1 corridor.

Tenure / Property Information

Investment Analysis

No HM Land Registry completed sales or other valuation evidence has been supplied, so market value and GDV cannot be established. The £115,000 guide is not a formal valuation. The stated rent of £1,650 pcm implies a gross yield of approximately 17.22% against the guide, before council tax, management, maintenance, voids, finance, tax and transaction costs.

Investment Snapshot

Strategy Recommendation

Prioritise a buy-to-let hold, subject to legal-pack review, inspection and verification of both occupancies, rents, conversion compliance and all auction charges. Do not rely on a BRRR or flip exit without valuation and cost evidence.

Works Required

No refurbishment works are evidenced. Verify the condition of both apartments, the legality and compliance of the conversion, and any repair obligations through the legal pack and inspection.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no GDV, refurbishment budget or refinance valuation evidence has been supplied. The existing occupied income may support a hold strategy, but refinancing proceeds cannot be estimated without a supported GDV and full acquisition-cost calculation.

Buy-to-Let Analysis

The stated combined rent is £1,650 pcm, or £19,800 per annum, producing approximately 17.22% gross yield on the £115,000 guide. This is before the landlord-paid council tax, operating costs, finance, tax and acquisition costs. The investment case depends on verifying both tenancies, rent payment history, deposits, arrears position and the legal status of the two-apartment conversion. The £3,600 admin charge and unspecified buyer premium further increase the actual cost.

Flip Analysis

A flip analysis cannot be supported because there are no completed-sale comparables, GDV evidence, refurbishment allowance or supported selling-cost allowance. The property is currently occupied, which may also affect vacant-possession and resale planning depending on the tenancy terms.

Investor Risks & Due Diligence

• Tenure and legal-pack details are not supplied.

• The buyer premium amount is unspecified and additional special-condition fees or disbursements may apply.

• The landlord covers council tax for both apartments, reducing the net operating return.

• Both apartments are occupied, but tenancy agreements, payment history, deposits and arrears information are not provided.

• The legality and compliance of the conversion into two self-contained apartments are not evidenced.

• No condition survey, refurbishment budget or repair-cost evidence is supplied.

• The stated rents are property-description figures and should be independently verified before bidding.

Recommendation

Prioritise a buy-to-let hold, subject to legal-pack review, inspection and verification of both occupancies, rents, conversion compliance and all auction charges. Do not rely on a BRRR or flip exit without valuation and cost evidence.

Strategy Rating

Analysis Confidence

Current rents, occupancy, guide price and the known admin charge are supplied, but tenure, tenancy details, buyer premium, special-condition costs, condition, completed-sale comparables and GDV evidence are absent.