5 Bed HMO, Lancaster, LA1 5RD, £225,000

4 Briery Street, Lancaster, Lancashire, LA1 5RD - 7 views - 5 months ago

Auction
HMO
ROI: 17%
65 m²
+4 photos

ValuationOvervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£56,250

Stamp Duty & Legal Fees

£7,950

Total Cash In

£64,200

 

 

Cash Out

 

Room Rate

£546

Gross Rent

£2,730

Running Costs/mo

£1,819

Cashflow/mo

£911

Cashflow/yr

£10,932

ROI

17%

Gross Yield

15%













Property History

Listed for £225,000

October 28, 2024

Sold for £123,000

2007

Sold for £60,000

2003

Description

  • Residential Investment +
  • Five Bedroom HMO +
  • Producing £7,440 Per Annum Gross (as at September 2024) +

CAN BE SOLD INDIVIDUALLY OR AS PART OF A PORTFOLIO
*LANCASTER PORTFOLIO*

For Sale by Public Online Auction on 15/01/2025 13:00

Location
Lancaster is a city in northern England and serves as the county town of Lancashire. It is located approximately 19 miles northeast of Blackpool and around 20 miles north of Preston. According to the 2011 Census, the city center has an estimated population of 52,234, while the wider City of Lancaster area has a population of about 138,375. Lancaster is a popular destination for students, being home to Lancaster University and a campus of the University of Cumbria.

Briery Street is situated near Lancaster Railway Station and the city center, in an area locally known as 'Fairfield.' This is a quieter neighborhood that remains relatively popular with students, particularly mature students and young professionals. The surrounding area consists mainly of terraced and semi-detached houses, with Lancaster City Football Club located just to the east. There are regular bus services running south to the Lancaster University campus, including stops at the University Underpass.

Description
The property is a mid-terrace five bedroom, three storey house built with solid brick and topped with a pitched slate roof. At the rear, there is a small, paved yard enclosed by brick walls, providing a private outdoor space.

Internally the ground floor consists of a living room, kitchen, and one bedroom. The first floor contains two bedrooms, one with an en-suite, as well as a shared bathroom. The second floor features two additional bedrooms, both with en-suite bathrooms. The rear yard is accessible from the kitchen and the ground-floor bedroom.

The total area of the property is approximately 65 sq m (700 sq ft).

Tenure
The property is held Freehold under Title Number LA642371.

Planning Authority
Lancaster City Council -

D:63

Refer to the legal documentation

Note
We have not inspected internally and the measurements and photographs have been provided to us by third party sources.

For further information please go to

Agent Details

Lambert Smith Hampton, Auctions

020 3834 8766

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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