01522 88 88 84

 35 Redwood Drive, Lincoln, Lincolnshire, LN5 9BN

Gibbeson Street, Lincoln

£220,000

4 Bedrooms / 2 Bathrooms / 1 Reception

  • Immaculately Renovated
  • Chain Free
  • 9% Gross Yield
  • Currently let until June 2023 - Immediate Income
  • Four Bedroom HMO Property
  • Fully Furnished

9 photos

  • Facebook  Twitter  Google +  Pinterest

** STUNNING REFURBISHED HMO PROPERTY WITH 9% GROSS YIELD **

Kinetic Estate Agents are delighted to present for sale this immaculately refurbished four bedroom terraced property currently used a student house of multiple occupation on Gibbeson Street in Lincoln. The property has been beautifully renovated to a high specification with modern features throughout. Each double room is fully furnished including a wall mounted television. There is also one shower room and one bathroom.

A viewing is essential to appreciate the standard of accommodation available! Registered with the Lincoln Students' Union Accommodation Services Accreditation Scheme, the property comes furnished and includes utilities - Gas, Water, Electricity, TV license and Broadband

All passed the building regulations with the local authority. So a very easy investment for someone who wants the security but without the hassle of refurbishing, furnishing or finding tenants for this year.

Please call Kinetic for further information or a viewing. 01522 88 88 84

Lounge 3.62m (11' 11") x 3.36m (11' 0")
With laminate flooring, skirting, spots, window to the rear aspect and wall mounted panel radiator

Kitchen 3.54m (11' 7") x 1.65m (5' 5")
Being fitted with a modern range of base and eye level units with work surfaces incorporating a one and a half bowl sink and drainer with mixer taps, appliances including a fridge freezer, washing machine, and an electric oven with hob and cooker hood; complete with a window to the side aspect, laminate flooring, and wall mounted panel radiator

Shower Room 2.34m (7' 8") x 0.98m (3' 3")
Being fitted with a three piece suite comprising of a low level WC, wash hand basin and a shower cubicle with shower over; complete with vinyl flooring, and chrome heated towel rail

Family Bathroom 1.85m (6' 1") x 1.55m (5' 1")
Being fitted with a three piece suite comprising of a low level WC, wash hand basin and a panelled bath with shower over; complete with vinyl flooring, and chrome heated towel rail

Property Information
This has planning permission for change of use from C3 to C4 – granted in 2018 and been used as HMO since this date with no voids.

Let on student tenancy agreements running for 50 weeks of the year. The current tenancy agreement ends June 2022 and is let for 2022/23 academic year with guaranteed rent until June 2023.

They are let at £100 per person / per room – as a result has a gross income of £20,000 each and therefore at asking price will provide a gross income of 9%.

The running costs are below

Rental income - £1,666.66

10% management fee - £166.66 per month
TV Licence - £13 per month
Virgin media superfast broadband - £45 per month
Gas & Electric - £135 per month
Water - £30 per month
Council Tax – Void as student tenancy
Insurance - £18

Property comes fully furnished and everything is yearly PAT tested by Cloud Lettings, along with yearly fire inspections etc.

Disclaimer
These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer of contract. Intending purchasers must rely on their own inspection of the property. None of the above appliances/services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment.

Reference: KIT1001408


Disclaimer

These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer of contract. Intending purchasers must rely on their own inspection of the property. None of the above appliances/services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment.

Members
Book your free valuation slot here today