Block of flats for sale in Hastings Street, Luton LU1

A Remarkable Investment Opportunity You Can't Afford to Overlook

National Residential proudly presents this block of four one-bedroom flats on Hasting Street, just a brief stroll from Luton Town Centre and conveniently located near local amenities. This strategic position is complemented by easy access to J10 of the M1 motorway, enhancing the property's appeal to potential investors.

The building comprises two ground floor flats and two first floor flats situated at the rear, offering tenants both convenience and privacy. Each flat features a spacious living room, well-equipped kitchen, double bedroom, and a bathroom, making them ideal for tenants seeking comfortable living spaces.

The properties come with attractive features such as full double glazing, on-road parking, partial furnishings, and an open-plan lounge and kitchen-diner layout. This makes them a perfect fit for investors seeking a hassle-free addition to their portfolio.

The interior layout of each flat is spacious and inviting. The ground floor flats facing the main road boast an expansive open-plan kitchen-dining area and a large double bedroom. Further in, basements house generously sized kitchens with bathrooms. Accessible through a private walkway along the side of the building, the first-floor flats offer large bedrooms, spacious living rooms, and moderately sized bathrooms. The depth of the flats ensures ample space, with well-sized bedrooms and kitchens equipped with fitted units and white goods. All flats feature carpets, gas radiators, and combi boilers for added comfort.

All flats fall under council tax band A, reflecting the affordability for tenants. Each flat is currently let on a rolling contract, with Flat 42a and 42b fetching £800 and £750, and Flats 44a and 44b at £850 each. The combined gross yearly rental income is an impressive £39,000, translating to £3,250 per month. The only deduction is a 10% monthly management fee, amounting to £325 per month, leaving a substantial monthly net income of £2,925.

Strategically positioned near J10 of the M1 and 12 miles from the M25 Junction 6A, the flats benefit from Luton's excellent transport links. With regular rail services to London and the Midlands, Luton offers three convenient railway stations: Luton Parkway Airport, Luton, and Leagrave. A swift 30-minute train journey from London to Luton further enhances the property's location.

Priced at £480,000, this block property promises an impressive gross rental yield of 8.13% and a 7.31% net yield, making it a savvy investment choice.

With its outstanding potential and attractive returns, this opportunity is sure to attract serious interest. Don't miss out - schedule your viewing now and secure this intelligent investment for your portfolio!

This property is only available for purchasers who are not in a chain.

1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage so an online Anti-Money Laundering Check can be completed. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3: Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyer's interests to check the working condition of any appliances.

*By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. Although the vendor may be willing to remove from the auction early for a suitable offer. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a deposit of 2% (minimum of £5,000) or a Buyers fee (amount or % will be stated in main advert., which secures the transaction and takes the property off the market. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction and can be viewed in full on our website.