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6 bedroom house of multiple occupation for sale

Archery Road, Leeds, West Yorkshire, LS2

Sold STC £280,000

Property Description

Key features

  • 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
  • Freehold

Full description

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

Investment Analysis
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.

Council Tax
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.

*Guide Price


More information from this agent

Listing History

Added on Rightmove:
25 November 2016

Map & Street View

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call John Pye Property, Nottingham on 0115 970 6060.

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