Description

Options……….options!!

Currently operating as 2 separate units as follows:

The ground floor is a 2 bed flat with a current gross rent of £4500 p/a.

The first floor has been recently refurbished and changed into a 3 bed shared property. Gross rents of £14,040 p/a.

So a combined gross annual income of £18,540 p/a now.

There is the potential of refurbishing the ground floor 2 bedrooms, and combine them, to make a 5 bed HMO. This would add another £4340 p/a approx., and give a 16.3% ROI.

This large, two storey property, is presented for sale as an up and running investment opportunity. The property benefits from double glazing and gas central heating, and is conveniently located with good transport links to the Hull City Centre. It is brought to the market with no chain involved, and is currently achieving a massive 13.2% ROI. There is the added potential to convert the loft space in this property, which could create a further two bedrooms. The property also benefits from a very large rear garden so an extension could also be added.

Location

The property is situated in the Spring Bank area of Hull within a short distance from the City Centre. There are good public transport links to the City Centre should they be required. There are also good road connections available to all parts of the city with access to the M62 via the A63 dual carriageway.

At a glance

  • 2 Floors
  • 5 Bedrooms
  • 4 Bathrooms
  • 2 Kitchens
  • 1 Living Room

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Accommodation

The property is arranged over two floors and briefly comprises as follows:

Entrance Hallway

With fixed staircase leading to the first floor landing.

Bedroom 1

Large double room, with double glazed bay window.

Bedroom 2

Double room with double glazed window overlooking the rear aspect.

Kitchen 1

With wall and base level fitted units, work surfaces over, integrated oven and hob with extractor hood over, wall mounted gas fired boiler, stainless steel sink and drainer unit, plumbing for automatic washing machine.

Bathroom 1

With three piece suite comprising panelled bath with overhead shower, pedestal wash hand basin, low level WC.

FIRST FLOOR

Bedroom 3

Double en suite room with double glazed window overlooking the rear aspect.

Bedroom 4

Double en suite room with double glazed window overlooking the rear aspect.

Bedroom 5

Double en suite room with double glazed window overlooking the front aspect.

Kitchen

The second kitchen is situated on the first floor. It has a gas hob, electric oven and extractor fan. There is a sink unit and washing machine. Also base and wall units for food storage and fridge freezer.

Outside

The property has a large rear garden. At the front of the property, there is a small, low maintenance, gated and fenced area.

Central Heating

The property has the benefit of central heating.

Double Glazing

The property has the benefit of double glazing.

Tenure

Freehold.

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