Property description
Elvet Estates are delighted to bring this four bed student investment property located in the Claypath area of Durham.The property comprises, on the ground floor two double bedrooms, living room and a kitchen. Whilst on the first floor, three bedrooms and a large bathroom. Externally there is a small yard area to the rear and communal street parking at the front of the property. The vendor has previously been granted planning permission to develop the attic space into a fifth bedroom with shower room, this has now lapsed and would need to be reapplied. However this presents an opportunity for an investor to add to the property and increase their return.Located in Claypath, the property is located a very short walk along the river to Freemans Quay Leisure Centre, Walkergate Complex and the city centre. While the student tenants, can get to the Bill Bryson Library with a fifteen-minute walk from the house.The property is currently privately managed by the vendor and achieves an annual rent of £17,680.00 p.a. which represents a yield of 7.07%. By adding a fifth bedroom, the rent should rise to at least £22,100 p.a., which would be a yield 8.84% on the asking price.Viewings can be arranged by calling Elvet Estates on 0191 375 7000.
Property Features :
- Student Investment Property
- Let until June 2016
- Scope to add fifth bedroom
- Claypath Location
- Recently Refurbished