Mansfield Road, Reading RG1

An established investment opportunity situated in a sought-after cul-de-sac within the Russell Street/Castle Hill Conservation Area. This attractive four-storey Edwardian semi-detached property has been converted to provide a six-room House in Multiple Occupation (HMO) together with a separate two-bedroom lower ground-floor flat. The property occupies a convenient position for Reading town centre, with both Reading mainline station and Reading West station within easy reach, together with a range of local amenities and regular bus services. When fully occupied, the property generates a combined rental income of £57,300 per annum, equal to a gross yield of 9.31% and is offered for sale with tenants in situ. The HMO accommodation is arranged over three floors and comprises a kitchen/dining room and two bedrooms on the ground floor, with the principal bedroom benefiting from an en suite shower room. The first floor provides two further bedrooms together with a WC/shower room, while the top floor offers two additional bedrooms and a further WC/shower room. The lower ground-floor flat benefits from its own private garden and comprises a kitchen/breakfast room, living room, two bedrooms and a useful storage room. The property combines an attractive period building, established rental income and a highly convenient location close to Reading town centre, making it an appealing proposition for investors seeking a property with multiple income streams.

Garden - There is a further area of communal garden to the rear of the enclosed fenced garden that is for the use of the residents of the lower ground floor flat.

Additional Information: - Parking
There is a driveway space for 1 vehicle allocated to the tenants of the lower ground floor flat.
On-street parking requires residents and visitors permits which can be issued upon successful application to Reading Borough Council, charges apply, for an up to date list of charges please check reading.gov.uk "permit charges"
The main house and lower ground floor flat are held on separate titles:
Flat Lease information.
Years remaining: 113 years
Service charge: N/A
Ground rent: £250 pa


Property construction – Standard form
Services:
Gas - mains
Water – mains
Drainage – mains
Electricity - mains
Heating - Flat has gas central heating

Broadband connection available (information obtained from Ofcom):
Ultrafast – Fibre to the premises (FTTP)


Mobile phone coverage
For an indication of specific speeds and supply of broadband and mobile, we recommend potential buyers go to the Ofcom web-site “Broadband and mobile coverage checker”

The property is located in a conservation area.

Rent Summary - Mansfield Flat£1,350
Mansfield Room 1£550
Mansfield Room 2£625
Mansfield Room 3£575
Mansfield Room 4£550
Mansfield Room 5£550
Mansfield Room 6£575

Total monthly income: £4,775 equates to a gross annual income of £57,300