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5 BEDROOM House Under Offer

Silverdale Road, SO15 Guide Price £300,000 - £325,000 (Freehold)
  • FlatHouse
  • Bedrooms5 Bed
  • Bathrooms3 Bath
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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.

Rental Income

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

£4,836

Flat 2 (Ground floor) Currently Let

£8,020

Flat 3 (First floor) Currently Let

£7,480

Bedsit 4 (First floor) Currently Vacant

£3,510

Bedsit 5 (Second floor) Currently Let

£5,304

Gross Total when all Let £29,150

Additional Information

Tenure: Freehold

Council Tax:

Bedsit 1 A

Flat 2 A

Flat 3 A

Bedsit 4 A

Bedsit 5 A

Room Sizes

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

Key features

  • 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

DRAFT DETAILS

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.

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Agent Details

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Rob Ward

Associate Director
Southampton

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