Property description
THE POTENTIAL GROSS ANNUAL YIELD ON THIS PLACE IS HUGEThis property offers the potential to let as a six bedroom multiple occupancy which could provide a gross annual income of £18,700 approx which based on its current guide price, could provide an astronomical 14.9% gross annual yield. As the property stands, it offers five lettable rooms, two bathrooms, two kitchens and the first floor kitchen could easily be converted into an additional bedroom by knocking out the landing cupboard to provide a sixth double bedroom. The property is brought to the market with no chain involved and vacant possession and benefits from double glazing and central heating. The property has an outbuilding, perfect for storage and is located within easy reach of Hull University.
LOCATION
The property is situated close to Newland Avenue which 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 fitted staircase leading to the first floor landing.
BEDROOM 1 - 12' 9'' Into Bay x 12' 4'' Into Recess (3.88m x 3.76m)
With feature fire surround and solid wood flooring.
BEDROOM 2 - 11' 2'' x 10' 7'' (3.40m x 3.22m)
LOUNGE - 16' 3'' Max x 9' 9'' (4.95m x 2.97m)
KITCHEN - 9' 9'' x 5' 8'' (2.97m x 1.73m)
With wall and base level fitted units and work surfaces over, stainless steel sink and drainer unit and space for fridge/freezer.
REAR LOBBY
With plumbing for an automatic washing machine and door leading to the rear.
SHOWER ROOM
With shower cubicle, low level WC and pedestal wash hand basin.
BEDROOM 3 - 10' 7'' x 8' 2'' Max (3.22m x 2.49m)
FIRST FLOOR
BEDROOM 4 - 11' 4'' Max x 11' 1'' Max (3.45m x 3.38m)
KITCHEN/BEDROOM 5 - 7' 7'' x 10' 0'' (2.31m x 3.05m)
BATHROOM
With a three piece suite comprising panelled bath, pedestal wash hand basin and low level WC.
BEDROOM 6 - 7' 7'' x 10' 7'' (2.31m x 3.22m)
OUTSIDE
The property has an enclosed rear yard and large outbuilding/work shop which would be ideal as a storage facility.
CENTRAL HEATING
The property has the benefit of gas central heating.
DOUBLE GLAZING
The property has the benefit of 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.*
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
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Property Features :
- Potential Multiple Occupancy
- No Chain Involved
- Vacant Possession
- Potential Annual Yield Of 14.9%
- Potential Gross Income £18,700 Per Annum