Property description
A rare opportunity to acquire a lucrative, licensed, INVESTMENT HMO property with gross yield of approximately 10% . This substantial end of terrace, granite townhouse is located in a popular residential area of Penzance, near to the railway station and is divided into SIX SEPARATE LETTING UNITS comprising of one self contained garden flat and five bedsits. The property is arranged over four floors and benefits from mains fire alarms, three phase electricity supply, some new double glazed windows to the rear and a new roof (replaced after 2009). All letting units have individual key operated electricity meters and the shared shower rooms are operated with tokens which the tenants purchase from the owner. Each flat is warmed via wall mounted electric heaters. There is an enclosed garden with access to a private parking space. The property is available chain free and is sold as a going concern. The vendor has informed us that the current gross income is approximately £26,500 per annum.
Entrance Hall with period tiled floor. Door to communal utility room with further door to landlord's store room with electricity consumer unit. Door to inner hall with doors to flats 1, 2 and 3. Stairs rise to first floor.
Established HMO investment property
5 bedsits and 1 garden flat
Gross yield of approximately 10%
Prime residential location
Close to amenities
Private parking space
| FLAT ONE | (self Contained Garden Flat. Note: This flat is MAY have a protected tenancy, please ask agent for further details. The tenancy agreement has provision for rent increases, the current payable being £110pw.
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| . | Stairs descend to lower ground floor. Door to bedroom and door to lounge.
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| Bedroom | 12'7\" x 11'4\" (3.84m x 3.45m). Window overlooking rear garden
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| Lounge | 17'11\" x 11'8\" (5.46m x 3.56m). Window to front. Door through to:
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| Kitchen | 12'5\" x 12' (3.78m x 3.66m). Range of wall and base units with space for cooker. Window to rear and door to rear hallway with further door to garden and door to:
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| Shower Room | WC and shower cubicle.
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| FLAT TWO | 18'8\" x 12' (5.7m x 3.66m). Period marble fireplace with arched alcoves to either side, deep bay window and further window to front, range of wall and base units with stainless steel sink and drainer and space for fridge.
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| FLAT THREE | 14'4\" (4.38m) (into Bay) x 11'6\" (3.51m). Bay window to rear. Range of wall and base units with stainless steel sink and drainer and space for fridge.
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| ROOM 1A | 12'2\" x 11' (3.7m x 3.35m). Former letting unit now used as landlord's storage area.
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| FIRST FLOOR | Landing with doors to flats 4 and 5. Stairs rise to second floor. Doors to:
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| WC | Window to rear. WC
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| Shower Room one | With shower cubicle and WC.
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| Shower Room Two | With shower cubicle and WC.
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| FLAT FOUR |
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| Lounge | 16'1\" (4.91m) (into Bay) x 12'5\" (3.78m). Bay window to front, door through to:
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| Kitchen | 11'4\" x 5'3\" (3.45m x 1.6m). Range of wall and base units with stainless steel sink and drainer and space for fridge. Door to landing.
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| FLAT FIVE | 14'2\" (4.31m) (into Bay) x 12'3\" (3.74m). Window to rear. Range of wall and base units with stainless steel sink and drainer and space for fridge.
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| SECOND FLOOR | Landing with door to:
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| FLAT SIX | 18'7\" x 18'1\" (5.66m x 5.51m). Dormer windows to two sides, door to enclosed shower cubicle, range of wall and base units with stainless steel sink and drainer and space for fridge.
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| Outside | To the rear of the property is a walled garden, solely used by the garden flat, with pedestrian access to one side and a single parking space at the end of the garden area.
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