4 Bed HMO, Lancaster, LA1 4UF, £230,000

12 Vine Street, Lancaster, Lancashire, LA1 4UF - 4 views - 4 months ago

Sold STC
HMO
ROI: 7%
90 m²
+5 photos

ValuationOvervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£57,500

Stamp Duty & Legal Fees

£8,100

Total Cash In

£65,600

 

 

Cash Out

 

Room Rate

£496

Gross Rent

£1,984

Running Costs/mo

£1,587

Cashflow/mo

£397

Cashflow/yr

£4,764

ROI

7%

Gross Yield

10%













Property History

Listed for £230,000

November 25, 2024

Sold for £137,500

2018

Sold for £115,000

2015

Floor Plans

Description

  • NO CHAIN +
  • INCOME PRODUCING STUDENT PROPERTY +
  • FOUR BEDROOMS +
  • TWO SHOWER ROOMS +
  • WELL PRESENTED THROUGHOUT +
  • FOOL PROOF INVESTMENT +
  • CLOSE TO THE CITY CENTRE +
  • GOOD LETTING HISTORY +
  • EXCELLENT LINKS TO THE UNIVERSITIES +
  • GOOD LOCAL AMENITIES +

*INCOME PRODUCING HMO STUDENT PROPERTY* *4 LETTING BEDROOMS * 2 SHOWER ROOMS *CLOSE TO THE CITY CENTRE * WELL PRESENTED * GREAT LOCATION FOR STUDENTS *

Character income-producing property situated close to the city centre with all of the amenities Lancaster has to offer including gyms, pubs, clubs, shops, eateries, and health services.
Well presented throughout, this property is very well presented and offers excellent accommodation for students and is only a few minutes walk to the city centre.

This property is let for this 2024/2025 academic year at 4 x £124 x 48 (per person per week) offering an annual gross income of £23,808

The property is also let for the 2025/2026 academic year at 4 x £124 x 48 (per person per week) offering an annual gross income of £23,808

The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).

A current landlord's gas safety certificates are in place along with EICR (electrical installation condition reports).

Entrance Hallway - Stairs to the first floor, laminate floor.

Bedroom One - Double-glazed window to the front, built-in cupboard housing the consumer unit, carpeted floor, radiator.

Lounge/Diner - Double-glazed window to the rear, understairs storage space, laminate floor, radiator.

Kitchen - Double-glazed window to the rear, range of matching wall and base units, fridge/freezer, washing dryer, stainless steel sink, four-ring gas hob and extractor hood, electric oven, radiator, vinyl floor, door to the yard.

First Floor Landing - Stairs to the second floor, a cupboard housing the washing machine and combi boiler.

Bedroom Two - Double-glazed window to the front, carpeted floor, radiator.

Shower Room One - Double-glazed frosted window to the rear, shower cubicle with thermostatic shower, wash hand basin, heated towel rail, vinyl floor, extractor fan, W.C.

Shower Room Two - Double-glazed frosted window to the rear, shower cubicle with Mira electric shower, wash hand basin, heated towel rail, vinyl floor, extractor fan, W.C.

Second Floor Landing -

Bedroom Three - Double-glazed window to the rear, carpeted floor, radiator.

Bedroom Four - Double-glazed window to the front, carpeted floor, radiator.

Yard - Gate to access road.

Investment Information - This property is let for this 2024/2025 academic year at 4 x £124 x 48 (per person per week) offering an annual gross income of £23,808

The property is also let for the 2025/2026 academic year at 4 x £124 x 48 (per person per week) offering an annual gross income of £23,808

The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).

A current landlord's gas safety certificates are in place along with EICR (electrical installation condition reports).
Tenure Freehold
Council Tax Band (B ) £1756.26

Agent Details

Mighty House, Lancaster

01524 967572

Next Steps?

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

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