Flat 5 in Oakwood Court at 7 Avenue Road, is among 168 lots in the latest auction being held by one of the top five property auctioneers in the UK, Clive Emson Land and Property Auctioneers.
Currently let at £10,471.20 per annum, It is listed with a leasehold guide price of £135,000-plus at the firm’s auction which ends on Thursday 1 May.
Senior Auction Appraiser Russell Hawkes said: “This one-bedroom flat is situated on the top floor of a three-storey purpose-built block of six flats and is offered as an investment opportunity.
“We understand the property has been let under the terms of an assured shorthold tenancy agreement to the same occupant for the last 16 years, currently holding over on a periodic basis, paying a current monthly rental of £872.60.”
There is a garage in a block at the rear, with rear communal gardens and parking.
Avenue Road is located next to the popular South Norwood Lake and Grounds and convenient for commuting from Norwood Junction Station (Southern rail services and Windrush Overground line).
Within the same proximity are a number of bars, shops, restaurants and cafes along the A213 High Street and Selhurst Road junction.
Tenure is the remainder of a 99-year lease from March 1978.
Watch the video: www.cliveemson.co.uk/properties/257/144/
Clive Emson Auctioneers holds auctions eight times a year offering specialist advice for auction purposes with offices in Essex, Kent, Sussex, Hampshire and the West Country, selling with skill, speed and efficiency.
The firm will be in attendance at the National Landlord Investment Show, the UK’s Number one landlord and property investment exhibition at the Ashford International Hotel, Kent, on 30 April
Bidding for the current auction, the second of eight this year, goes live on Tuesday 29 April and concludes on Thursday 1 May.
See www.cliveemson.co.uk for more details.