West Parade, Lincoln, LN1
- PROPERTY TYPE
Terraced
- BEDROOMS
7
- BATHROOMS
2
- SIZE
1,789 sq ft
166 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Fully Tenanted 7 Double Bedroom Student HMO
- 9.2% NET Yield - An Excellent Investment Opportunity
- Confirmed Tenancy For 2024/25 Academic Year
- Professionally Managed & Consistently Let To A Group Of 7
- Two Bathrooms Plus Additional WC
- Great Location For Students
- Convenient For The University Of Lincoln
- uPVC Double Glazing, GCH, Hard Wired Smoke/Heat Detectors
- Off Road Parking For 6 Vehicles
- Price Reflects Remedial Work Required
Description
A SUBSTANTIAL 7 DOUBLE BEDROOM STUDENT HMO PROPERTY
FULLY TENANTED FOR THE UPCOMING 2024/25 ACADEMIC YEAR
GENERATING AN INCOME OF £39,270pa
Financial Performance for the 2024/25 Academic Year
Rental Income: £510pcm each / £39,270 per annum based on 11 months
Cost of all bills: £5,000 per annum approx.
Lettings Management Fee 10% all inclusive: £3,927 per annum
NET Income: £30,343 per annum
NET Yield: 9.2%
Take a look at the photos, floorplan and 360 virtual tours for every room!
The vendor has advised there are remedial works required to the property which is reflected in the price.
Mr Investa are pleased to bring to the market this fantastic buy-to-let investment opportunity located in a convenient and popular area, close to Lincoln City Centre and University of Lincoln whereby students benefit from having a variety of amenities nearby including a Sainsbury’s Local, Co-Op, ODEON cinema and a number of bars/restaurants. The west end attracts many students' year on year therefore making this property an attractive investment.
Each bedroom includes a double bed, study desk, chair and drawers/wardrobe. As well as the seven bedrooms, the property also benefits from having a spacious living room, a large dining kitchen fitted with modern appliances, two bathrooms and an additional WC. Outside there is a rear yard which opens up to a driveway with space for 6 vehicles.
This property is currently managed by a professional local letting agent who have already confirmed the tenancy for the 2024/25 academic year at £510pcm per room. Gross rental income for 2024/25 is £39,270 per annum.
NOTE TO PURCHASERS: Whilst all Information is believed to be correct, the information is provided via the seller and should always be check via yourself or legal representative. Mr Investa LTD does not accept any responsibility in respect of this information provided.
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: C
West Parade, Lincoln, LN1
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lincoln Central Station0.9 miles
- Hykeham Station3.3 miles
- Saxilby Station5.1 miles
About the agent
Mr Investa Ltd, Salford
Mr Investa, Blue Tower, MediaCityUK, M50 2ST
We offer a unique and bespoke service for Landlord to Landlord Sales.
Here at Mr Investa we understand that not ever investor is the same, not every seller or buyer have the same requirements.
Using the latest technology in the property market to give our clients a full insight to the properties and areas we offer from the comfort of their home or on the go. We do this by providing a virtual tours, floor-plans and financial performance for each property.
Our aim is to take t
Industry affiliations
Notes
Staying secure when looking for property
Ensure you're up to date with our latest advice on how to avoid fraud or scams when looking for property online.
Visit our security centre to find out moreDisclaimer - Property reference MSN-56281282. 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 Mr Investa Ltd, Salford. 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.
Map data ©OpenStreetMap contributors.