• EPC-D +
• Modern Method of Auction +
• 8 Studio Apartments +
• Popular LS12 Location +
• 56,588pa Rental Income +
• 3D Virtual Tour Available +

**FOR SALE via Modern Method of AUCTION - CALLING ALL INVESTORS

£475,000** starting bid!

**High-Yield Investment – 8 Studio Apartments – Housing Benefit Income – Armley, Leeds (LS12)

**WOW - with a Starting Bid Yield of Approx 11.91% (Based on Current Rental Income & Advertised Guide Price)

A rare opportunity to acquire a fully converted block of 8 self-contained studio apartments in the popular residential and high-demand rental area of Armley, Leeds. The property is ideally suited to investors seeking immediate income with future growth potential.

Each individual unit has its own pre-payment electricity meter that the Tenants are responsible for topping up, this includes powering the electric heaters for each studio apartment. The only gas in the building powers the gas boiler for the hot water and this costs currently approx £90 every two months which is paid buy the owner.

The landlord is responsible for the hall, stairs & landings only, which are operated on timed, low energy lighting approximately £45.00 pcm. (Energy costs provided by the vendor)

**Current Income & Tenancy Information

**• 8 studio apartments in total • 7 of the 8 units currently occupied • All occupied units let to tenants in receipt of Housing Benefit / Universal Credit • Rent paid directly to the landlord • Current rental income: £4,715.68 per calendar month (£5,373.00pcm with full occupancy) • Approx £56,588 per annum based on current occupation (£64,476pa when all units are occupied)

**Headline Yield Estimate

**Based on the current annual income of £56,588 and the advertised Starting Bid, the property offers a strong gross yield of 11.91% when all apartments are let with a combined annual rental income of £64,476.00, the property would offer an 13.57% yield based on the above figures. (Yield will vary depending on final purchase price.)

**Future Income Potential

**There is further potential for rental growth, supported by:

• Consistent demand for affordable studio accommodation • Periodic Housing Benefit and Local Housing Allowance (LHA) reviews by the UK Government • Any future uplift to the Housing Benefit cap could allow for rent reviews in line with revised LHA rates, subject to legislation and market conditions