6 bedroom house of multiple occupation for saleArchery Road, Leeds, West Yorkshire, LS2
Sold STC £280,000
- Sought after location
- Currently fully let at £21,700 pa
- Gross yield 7.75%
- Good potential for capital growth
- Potential to convert to 3 flats (STP)
- Excellent transport links
- Close to amenities
The subject property is located on the eastern side Archery Road in the Woodhouse area of the City of Leeds.
Archery Road is located just 0.5 miles from Leeds city centre and is in the heart of the student area with Leeds Becket University and the University of Leeds being within easy walking distance. In addition Leeds General Infirmary is just a short distance away.
Given the location of this property there is an abundance of independant and national shops, bars and restaurants to help service the needs of the residents.
The area is also well serviced by an excellent public transport system and major motorway links to the north of the country
Located in a cul de sac this three storey bay fronted property is entered by way of a small pallisade to an entrance hallway.
To the ground floor there is a communal lounge area, a double bedroom with a shower and a kitchen to the rear which hosts a good range of base and eye level units.
Upstairs to the first floor there are two further double bedrooms, a single bedroom and three piece bathroom suite with shower over bath. There is also a separate toilet to the first floor. To the second floor there are two further double bedrooms with the benefit of velux windows.
In addition there is a basement to the property and the adjoining property has been converted to four large flats that generate significant income.
Total 220m2 2368ft2
Approximate gross internal area taken from the EPC Register
We understand the property is connected to mains gas, electricity, water and drainage.
The property is freehold
The rooms are currently rented as follows:
Double bedroom 1: £69.50 pw
Double bedroom 2: £69.50 pw
Double bedroom 3: £69.50 pw
Double bedroom 4: £69.50 pw
Double bedroom 5: £69.50 pw
Single bedroom 1: £57.69 pw
This equates to £21,700 pa and represents a gross yield of 7.75% based on a purchase price of £280,000.
The property is rated in Council Tax Band C. Council Tax payable (2016/2017) is £1263.28 p.a. However, if the property is rented to students council tax would not be applicable.
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