4 Bed HMO, Lancaster, LA1 3QE, £180,000

23 Greenfield Street, Lancaster, Lancashire, LA1 3QE - 9 views - 5 months ago

Auction
HMO
ROI: 17%
64 m²
+6 photos

ValuationOvervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£45,000

Stamp Duty & Legal Fees

£6,600

Total Cash In

£51,600

 

 

Cash Out

 

Room Rate

£546

Gross Rent

£2,184

Running Costs/mo

£1,459

Cashflow/mo

£725

Cashflow/yr

£8,697

ROI

17%

Gross Yield

15%













Property History

Listed for £180,000

October 28, 2024

Sold for £79,000

2004

Description

  • Residential Investment +
  • Four Bedroom HMO +
  • Producing £12,000 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, located in the north of England, is the county town of Lancashire. It lies approximately 19 miles northeast of Blackpool and 20 miles north of Preston. According to the 2011 Census, Lancaster's city center has an estimated population of 52,234, with the wider area, including the City of Lancaster, reaching around 138,375. The city is a popular destination for students, home to both Lancaster University and a campus of the University of Cumbria.

Greenfield Street is located to the north of Bowerham, a sought-after area for students, close to Lancaster City Centre and the University of Cumbria's Lancaster campus. The area is primarily made up of terraced housing, with some industrial units nearby, and is close to The Lancaster Hospital to the southwest and the University of Cumbria to the southeast. Situated on the edge of one of Lancaster's most popular student areas, Greenfield Street is ideal for students transitioning from university accommodation to private rentals within the city. Regular bus services provide convenient access to Lancaster University, including stops at the University Underpass.

Description
The property is a mid-terrace four bedroom, two storey stone built house beneath 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/diner and one bedroom with ensuite. The first floor contains three bedrooms, one with an en-suite, as well as a shared bathroom.

The rear yard is accessible from the kitchen and the ground-floor bedroom. The property has a small yard area to the rear which can be accessed off the kitchen and the ground floor bedroom.

The total area of the property is approximately 64 sq m (689 sq ft).

Tenure
The property is held Freehold under Title Number LA969048.

Planning Authority
Lancaster City Council -

E:47

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?

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