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
- 12.3% Yield - An Excellent Investment Opportunity
- Let 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
- Attractively Priced To Sell
Description
12.3% YIELD!!
A SUBSTANTIAL 7 DOUBLE BEDROOM STUDENT HMO PROPERTY
FULLY LET 2024/25 ACADEMIC YEAR
FULL LETTINGS MANAGEMENT INCLUDED
Financial Performance for the 2024/25 Academic Year
Rental Income: £510pcm each / £39,270 per annum based on 11 months
Cost of all bills: £4,500 per annum approx.
Lettings Management Fee 10% all inclusive: £3,927 per annum
NET Income: £30,843 per annum
NET Yield: 9.64%
Take a look at the floorplan and recent images!
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 confirmed the tenancy for the 2024/25 academic year at £510pcm per room. Current 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
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Yes
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
West Parade, Lincoln, LN1
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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.
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