Gresham Road, Middlesbrough, TS1
- PROPERTY TYPE
House of Multiple Occupation
- BEDROOMS
6
- BATHROOMS
3
- SIZE
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- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
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Description
Exceptional 6-Bedroom HMO Near Teesside University
Location: Gresham Road, TS1 Middlesbrough,
Overview:
We are delighted to present a fantastic opportunity to acquire a well-established 6-bedroom House in Multiple Occupation (HMO) located just a stone's throw away from Teesside University. This property is ideal for investors looking for a turn-key investment with a strong rental yield.
Key Features:
Six Double Bedrooms: The property boasts six generously sized double bedrooms, ensuring ample space and comfort for tenants.
Selective License: A selective license is already in place, making this an excellent investment opportunity with compliance assured.
Fully Furnished: All rooms are fully furnished, providing a hassle-free transition for new tenants.
Ensuite Bedroom: One of the six bedrooms features an ensuite bathroom, adding value and appeal to potential renters.
Shared Facilities: The property also includes two shared shower rooms, catering to the needs of all tenants.
Current Tenancies: Five of the six bedrooms are currently tenanted, ensuring immediate cash flow for the new owner.
Investment Highlights:
Turn-Key Investment: With existing tenants and fully furnished rooms, this property is ready to generate income from day one.
5 rooms are currently tenanted on bills inclusive tenancy agreements. Rents ranging from £425 to £500 per month.
Gresham Road (estimated financial figures at asking price):
Asking Price: £165,000
Gross Rental Income: £27,000 per year, £2,250 per month
Gross Yield: 16.36%
Prime Location: Situated close to Teesside University, this HMO is perfectly positioned to attract students and young professionals seeking convenient accommodation.
Must Be Seen:
This property is a must-see for any serious investor or potential landlord. Don’t miss the chance to secure this incredible
investment opportunity in a thriving area.
Viewing Arrangements:
Virtual tour is available. Please view this in the first instance. For further details or to arrange a viewing, please contact Castle Homes.
Take advantage of this rare opportunity to own a well-maintained HMO with excellent rental potential in a sought-after location. Act fast, as properties like this do not stay on the market for long!
Disclaimer: Photos as of May 2024 when property was first let.
Disclaimer - 'Grandfather rights' for selective license would need to be checked with your due diligence. The current owner has a valid HMO license for this property as a 6 bedroom HMO. License can not be transferred.
EPC Rating: D
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: A
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
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- GARDENA property has access to an outdoor space, which could be private or shared.
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- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Gresham Road, Middlesbrough, TS1
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Visit our security centre to find out moreDisclaimer - Property reference ead835cd-eb08-4914-9dcd-431a0fbcd4f0. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Castle Homes Property, Darlington. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited. **This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.
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