Property description
5 bed student invetstment property, located centrally, fully let and offering a yield of 6.93%
The house is centrally located inbetween the popular student areas of The Viaduct and the Science Site, licenced HMO five bed student property to the market for sale. Fully let until June 2016, this is a perfect, rare investment opportunity.
The property comprises, on the ground floor one bedroom, kitchen and living room with a shower room to the rear of the property. While on the first floor there are three bedrooms and one bathroom and the second floor has the final double bedroom.
The property has a yard area to the rear and a picturesque picnic area to the front which is very popular with student tenants in the summer months.
Ideally located in between the Science Site and The Viaduct, the property is located a short walk from Crossgate and the City Centre. While the student tenants, can get to the Bill Bryson Library with a 10 minute walk from the house.
From the front of the house, there is a path which leads tenants past Durham Tennis Club onto Quarryheads Lane for an even quicker route to the science site.
The property is currently privately managed and achieves a gross annual rent (including some bills) of £22,880 p.a. which represents a gross of 6.93% and is currently let until June 2016. Looking at comparable properties managed by our student partner (Bill Free Homes) on this street, there is potential room for growth in the rent, with another property on Beechcrest achieving £29,900 gross (including utilities) which would represent a yield of 9.06% based on the asking price.
Viewings can be arranged by calling Elvet Estates on 0191 375 7000.
Property Features :
- Ideally Located
- Let Until June 2016
- Five Bedrooms
- Quiet Area
- Great Student Investment