Hassle Free Contract in Place - 1 Year Remaining (until June 2025) +
Current Guaranteed Monthly Rental - £975pcm (excluding bills) +
Great Value for Money and Further Opportunity to Increase Yield and Income +
Popular Buy to Let Area +
Within Close Proximity to the University +
*Guide Price £130,000-£140,000 plus Reservation Fee*
If you're looking for a hands off, READY TO GO investment opportunity to add to your portfolio, then this is the property for you.
* Reliable guaranteed monthly income with no stress of voids.
* Ability to potentially increase returns from June 2025.
Five bedroom HMO with full licence, recently renewed in 2023 and fully compliant meeting all conditions, including brand new fire doors throughout, and historic use dating back approximately ten years.
The property is currently let to a housing association with a contract in place with 1 year remaining, until the 22nd June 2025. Very hassle-free with housing association paying all utility bills and council tax. Reliable guaranteed monthly income of £975p/m (excluding bills) with no stress of voids. Ability to potentially increase returns through extending this contract at the end with a new negotiated rental price - this current rent figure has been in place for 5 years so market rentals have likely increased in this time. Or let it on a room by room basis with a huge potential gross annual income of approximately £21,000+ and increasing your return on investment. Buyers would be encouraged to get an up to date rental valuation once the current housing association agreement expires.
Same out of town investor owner for 12 years - perfect for someone looking for a hands off and hassle free investment opportunity.
The property boasts approximately 1830 sqft of living accommodation.
Ground floor comprises of:-
Entrance hall, Communal lounge, Bedroom four, Fitted kitchen, Rear lobby, Ground floor shower room and toilet.
First floor comprises of:-
Two bedrooms, Large bathroom
Second floor comprises of:-
Two bedrooms
Outside is an enclosed yard with a hard surface for low maintenance.
Fantastic location within easy reach of Hull University, Newland Avenue and Princes Avenue which have a great choice of local cafe, bars, shops and restaurants and is considered one of Hull’s most popular buy to let areas.
This property would make a great addition to anyone's portfolio and is brought to the market at a competitive price to attract serious interest.
**Fees, Exclusivity, and Disclaimer: **
Fees:Reservation Fee: Upon acceptance of an offer, the Buyer is required to pay a non-refundable Reservation Fee of 2% to a minimum of £2500 plus VAT. The Reservation Fee is paid on top of the purchase price. This reservation fee ensures that the property is taken off the market as soon as a sale is agreed, eliminating gazumping, time wasting, and financial loss.
The Reservation Fee can be refunded under certain circumstances;
i.e the seller deciding to pull out, a chain collapsing or structural issues verified by a structural survey. For more information on what would qualify for a refund then please speak to the office
Exclusivity:
Following the payment of the reservation fee, Rezee will facilitate a fixed exclusivity period of 60 days from draft contracts being issued. During this time the property will be reserved, so there will be no risk of gazumping.
Process:
Our process:
1. Register your interest
2. Prepare your finances for the purchase
3. Arrange a viewing
4. Make an offer
5. Secure your sale using our secure system
6. Exchange and complete
Disclaimer:
The property has a Ready Sale Pack, which gives additional information regarding the property. It is the Buyer’s responsibility to request & examine the Ready Sale Pack before committing to purchase the property. We advise you also carry out your own due diligence prior to making an offer.
The Buyer is required to verify their ID & show proof of funds.
Rezee offers additional services, such as conveyancing, financial advice, surveying & other services associated with selling & buying a property. Rezee may receive a referral fee for these third-party services.
We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact.
Tenure; Freehold
Council Tax Band; B
Agent Details
Rezee, Hull
01482 251686
Next Steps?
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