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About the property
HMO COMPRISING TWO FLATS AND THREE BEDSITS
Guide Price £300,000 - £325,000. Currently generating an annual income of circa £29,000, this spacious end of terraced HMO which requires a degree of updating and modernising will be of particular interest to investment buyers, landlords and developers alike. The property is located in Silverdale Road, a short distance from the city centre.
The house is currently configured as two generously sized one bedroom flats and three bedsits. The flats are of a good size, each with their own bathroom, kitchen, sitting room and bedroom. The bedsits on the ground floor are second floor each comprise one large room whilst the bedsit on the second floor is divided into two separate areas. The bedsits share a communal bathroom located on the first floor.
To the rear of the property is a good size garden laid to lawn. The property has a single gas/electricity/water supply so the costs are shared amongst the tenants.
We have been advised by the owner of the following in regards to the current rental income being achieved, however none of the existing tenants have had a rent review in a number of years so the current rents are likely to have fallen below current market expectations and there is potential to increase these.
The current annual rental figures are as follows:
Bedsit 1 (Ground floor) Currently Let
Flat 2 (Ground floor) Currently Let
Flat 3 (First floor) Currently Let
Bedsit 4 (First floor) Currently Vacant
Bedsit 5 (Second floor) Currently Let
Gross Total when all Let £29,150
Bedsit 1 A
Flat 2 A
Flat 3 A
Bedsit 4 A
Bedsit 5 A
Bedsit 1 4.78m (15'8) x 4.09m (13'5)
Flat 2 Sitting Room 3.18m (10'5) x 4.06m (13'4)
Flat 2 Bedroom 4.09m (13'5) x 3.05m (10'0)
Flat 2 Bathroom 3.28m (10'9) x .84m (2'9)
Flat 3 Sitting Room 3.28m (10'9) x 3.12m (10'3)
Flat 3 Bedroom 3.4m (11'2) x 3.4m (11'2)
Flat 3 Bathroom 2.62m (8'7) x 1.24m (4'1)
Communal Bathroom 2.64m (8'8) x 4.06m (13'4) Max
Bedsit 4 4.78m (15'8) x 4.09m (13'5)
Bedsit 5 4.47m (14'8) x 4.01m (13'2) Max
Bedsit 5 Kitchen 4.47m (14'8) x 3.48m (11'5) Max
Guide Price £300,000 - £325,000
Superb HMO investment opportunity
Potential annual rental income of over £29,000
Configured as two flats and three bedsits
Good size garden to rear
Scope to modernise and update
Gas heating and UPVC double glazing
We are awaiting verification of these details by the seller(s).
ALL MEASUREMENTS QUOTED ARE APPROX. AND FOR GUIDANCE ONLY. THE FIXTURES, FITTINGS and APPLIANCES HAVE NOT BEEN TESTED AND THEREFORE NO GUARANTEE CAN BE GIVEN THAT THEY ARE IN WORKING ORDER. YOU ARE ADVISED TO CONTACT THE LOCAL AUTHORITY FOR DETAILS OF COUNCIL TAX. PHOTOGRAPHS ARE REPRODUCED FOR GENERAL INFORMATION AND IT CANNOT BE INFERRED THAT ANY ITEM SHOWN IS INCLUDED.
These particulars are believed to be correct but their accuracy cannot be guaranteed and they do not constitute an offer or form part of any contract.
Solicitors are specifically requested to verify the details of our sales particulars in the pre-contract enquiries, in particular the price, local and other searches, in the event of a sale.