Property description
IDEAL INVESTMENT POTENTIAL - FOUR LETTING ROOMS (CURRENTLY LET TO THREE STUDENTS TILL JULY 2017) - CURRENTLY ACHIEVING £13,254 PER ANNUM AND WOULD PROVIDE AN ANNUAL YIELD OF 12%
Summary:
This four bedroom terraced property briefly comprises entrance hall, lounge, dining room, kitchen, lobby, bathroom and first floor four bedrooms. The property is currently let to students and is close to Hull University and the popular social Newland Avenue. Early viewing is strongly advised.
Location:
Newland Avenue enjoys an abundance of restaurants, bars, cafes, local shops and public transportation, with access to both Hull City Centre and the A63/M62 motorway. The Hull University is also within a short walking distance.
Accommodation:
The property is arranged on two floors and briefly comprises as follows:
Entrance Hall:
With stairs to the first floor and wood effect flooring.
Lounge: - 10' 1'' Into Recess x 11' 0'' (3.07m x 3.35m)
Dining Room: - 10' 6'' Plus Recess x 11' 11'' (3.20m x 3.63m)
With wood effect flooring and coving.
Kitchen: - 7' 11'' x 9' 1'' (2.41m x 2.77m)
Fitted with a range of oak effect wall and base units, roll edge laminated work surfaces, gas hob, electric oven, splash back tiling, wood effect flooring and integrated fridge/freezer.
Rear Lobby:
With door to the rear of the property.
Bathroom: - 5' 5'' x 7' 1'' (1.65m x 2.16m)
With low level WC, pedestal wash hand basin, panelled bath with shower over and partially tiled walls.
First Floor:
Bedroom One: - 15' 3'' Into Recess x 10' 11'' (4.64m x 3.32m)
Bedroom Two: - 11' 11'' x 10' 2'' (3.63m x 3.10m)
Bedroom Three: - 9' 0'' x 8' 0'' (2.74m x 2.44m)
Outside:
To the rear of the property there is an enclosed lawned garden, fencing to perimeters and storage shed.
Central Heating:
The property has the benefit of gas central heating.
Double Glazing:
The property has the benefit of UPVC double glazing.
Council Tax:
Council Tax is payable to the Kingston Upon Hull City Council. From verbal enquiries we are advised that the property is shown in the Council Tax Property Bandings List in Valuation Band A.*
Special Note:
All items of furniture, white goods, etc, may be included subject to separate negotiation.The property has been in constant use as a 'Student-Let' since well before any Hull City Council (Article 4) so there are no issues going forward.The property is fully managed by Mypad (Cottingham Road).CURRENT CONTRACT - August 2015 to August 2016The Rental Income for the current (August 2015 to July 2016) Tenancy agreement is £70.50 per person per weekTOTAL = £13,254 for a 47 week contract in which Utility bills were included in the rent)**NEW CONTRACT - August 2016 to July 2017The Rental Income for the new (August 2016 to July 2017) Tenancy agreement is £60 per person per weekTOTAL = £9,000 for a 50 week contract, but utility bills are NOT included in the rent)(Normal/Future Income will be £12,000 with all four rooms let)**This contract is for 3x Tenants only (i.e. One room still spare)The agreement for 3x Tenants instead of the normal 4 was due to this group of students 'missing-out' on another property, so three instead of four was agreed as a concession for this year only.
Fixtures And Fittings:
Certain fixtures and fittings may be purchased with the property but may be subject to separate negotiation as to price.
Disclaimer:
*The agent has not had sight of confirmation documents and therefore the buyer is advised to obtain verification from their solicitor or surveyor.
Viewings:
Strictly by appointment with the sole agents.
Mortgages:
We will be pleased to offer independent advice regarding a mortgage for this property, details of which are available from our Hull - Newland Avenue office on 01482 343399. Independent advice will be given by Licensed Credit Brokers. Written quotations on request. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
Valuation/Market Appraisal:
Thinking of selling or struggling to sell your house? More people choose Beercock Wiles & Wick in this region than any other agent. Book your free valuation now!
Property Features :
- Ideal Investment Opportunity
- Three Bedrooms
- Close To Hull Uni And Newland Avenue
- Ideal Starter Home
- Early Viewing Advised