Flat 38, Friars Mews, Wesleyan Court, LINCOLN, Lincolnshire, LN2 5DB

Description

Two bedroom, fourth floor apartment. Tenant in situ: £850pcm With parking. Description A two bedroom, fourth floor, apartment located in the centre of Lincoln, close to an abundance of amenities. The property is being sold with a tenant in situ and the current rental income is £850pcm. The accommodation comprises an entrance hall, open plan kitchen/living, two bedrooms and a bathroom. Friars Mews is a secure gated complex and Flat 38 has allocated parking. Situated within walking distance of Lincoln City Centre, offering great access to Lincoln City Centre, A46 relief road as well as local shops, services, schools and amenities offered close by with many within easy walking distance. There is also a train station in Lincoln servicing London Kings Cross, Nottingham, Derby and other cities. Some of the photos may have been taken prior to the tenant moving in. Accommodation Fourth Floor: entrance hall, open plan kitchen/living, two bedrooms, bathroom External: secure gated access. With pa

Location

Property located at Flat 38, Friars Mews, Wesleyan Court, LINCOLN, Lincolnshire, LN2 5DB.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £5,000–£10,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

The auctioneer-published rent identified in the source is approximately £10,200 per annum.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Confirm lease length, ground rent, service charge and major works

Recommendation

Preferred strategy: Buy-to-Let / Owner-Occupier. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Buy-to-Let: ★★★★☆

BRRR: ★★★☆☆

Flip: ★★★☆☆