- Superb High Specification Investment Opportunity +
- Spacious House Converted into 3 Apartments - 1 x 3 Bed, 1 x 1 Bed and 1 x Studio +
- Residential Location just off Beverley Road +
- Within Close Proximity to the University +
- Gross Yield: 11.2% +
- Market Rent: £2,340 pcm (excl. utilities) +
- All Apartments Currently Let to Students Until August 2025 +
We believe these properties works best with a mortgage at 75% LTV or less based on a mortgage interest rate of 5%.
The property was built as a traditional mid-terraced house, but in recent years has been sympathetically split into three spacious apartments - one, three bedroom apartment, one, one-bedroom apartment and one, studio apartment. The property has been refurbished to an exceptionally high standard, with the gas and electricity supplies separated to each unit.
Based on 75% LTV with a 5% interest rate and taking buying costs into account (including the buyers fee) the projected cashflow of over £1,040 per month and ROI of over 15.5% present a very healthy and appealing investment proposition.
The apartments are well located, off Beverley Road, near Cottingham Road and Hull University. Beverley Road is a popular location for both students and working professionals, due to the range of amenities available, including cafes, restaurants, and supermarkets.
The overall accommodation extends to approximately 99m2 / 1065.63 ft2, with an overall plot size of approximately 0.06 acres.
The main front door enters into the communal entrance hallway which benefits from high ceilings and two individual doors to Flat A and Flat B. To the rear of the property, there is a separate door that provides access to Flat C.
Each of the apartments have been refurbished and furnished to a high standard throughout.
Flat A is the studio apartment and is located on the ground floor accessed directly from the communal entrance hallway. Flat B is a large three-bedroom apartment and is located on the first floor, with an entry door from the communal hall. Flat C is a one-bedroom apartment and is accessed via a private door to the rear of the property.
All of the apartments benefit from tenants in situ.
Flat A is a spacious studio apartment on the ground floor and measures approximately 33m2.
Accommodation includes a recently refurbished, bright and modern kitchen area with integrated appliances and beautiful Herringbone flooring. The kitchen area overlooks the living area and the bedroom area is at the opposite end of the room to the large bay window. A door leads to the recently refitted shower room.
The space is open-plan and has been well-designed to make each area of the studio feel separate, yet integrated. The studio is spacious & benefits from modern, neutral decor throughout.
Flat B is a spacious three-bedroom apartment that takes up the whole of the first floor.
Accommodation includes an open plan recently refurbished, bright and modern kitchen / living / dining room with integrated appliances, marble effect worktops, and beautiful Herringbone flooring.
The living space is extremely appealing and benefits from an exposed brick wall and modern, neutral decor. The room is stylishly furnished to maximise the space.
Off of the hallway, there is the recently refitted shower room, separate WC, and three neutral double bedrooms.
Flat C is a spacious one bedroom apartment on the ground floor and measures approximately 33m2.
Accommodation includes an open plan recently refurbished, bright and modern kitchen / living / dining room with integrated appliances and wood effect flooring.
The living space is bright due to the large bay window and benefits from modern, neutral decor. The room is stylishly furnished to maximise the space.
Off of the living space, there is a large double bedroom and a recently refitted shower room.
To receive a copy of the comprehensive brochure please register on our buyers database - visit our website to complete the buyers registration form.
Buyers premium of 2.5% + VAT is payable in two parts:
- A non-refundable reservation fee of 25% plus VAT or £1,500 plus VAT (whichever is greater)
- The balance is due upon legal completion (which is collected and paid by the buyers solicitor)