HMO INVESTMENT OPPORTUNITY l ANNUAL RENTAL INCOME £39,624 l TENANCY SECURED 2022/2023 AT £127 PPPW l ENERGY PERFORMANCE RATING C!! l TERRACED HOUSE l 5/6 BEDROOMS l 1/2 RECEPTION ROOMS l FITTED KITCHEN WITH UTILITIES SEPARATE l PRIME STUDENT LETTING AREA l 3 SHOWER ROOMS l GARDEN
COAPT are DELIGHTED to offer the OPPORTUNITY to PURCHASE this FANTASTIC INVESTMENT property IDEALLY situated in a POPULAR central LOCATION, on Ladysmith Road. This SPACIOUS 5/6-bedroom HMO is currently LET to students, with the current tenancy due to end in August 2022. A tenancy has also been secured for the following 2022/2023 academic year, TENANCY AGREEMENTS SIGNED AND REFERENCES COMPLETED, achieving an ANNUAL RENTAL INCOME of £39,624!!!
Ladysmith Road is the PERFECT student LOCTION, IDEAL for the public commute to either Brighton or Sussex university. Situated between campus and the Brighton Town centre, this property is surrounded by local amenities, shops and travel links!
This property was acquired by the present landlord in 2008. After FULL REFURBISHMENT, with MODERNISED bathroom and FITTED bedrooms, it proved to be an IMMEDIATE SUCCESS with student groups!! It has now SUCCESSFULLY operated as an annual let for more than 12 years, having ACQUIRED its HMO licence in 2013.
The house is just 10-15 minutes walking distance to the University of Brighton Moulsecoomb campus. Lewes Road buses to University of Brighton and Sussex University’s Falmer campuses, together with shops and services at the Gyratory, are a few minutes away, in an area POPULAR with students. Such houses are in short supply: no new licences are being granted in the Lewes Road area, without planning permission.
This brick-built EDWARDIAN property was FULLY RENOVATED by the present landlords on acquisition, and has been WELL-MAINTAINED since.
As well as meeting all STATATORY requirements such as smoke alarms and fire doors, several further IMPROVEMENTS have also been made to suit student groups: stained and varnished floors throughout and a built-in workstation in the lounge area next to the kitchen. In 2018 an architect designed a loft conversion which added two more DOUBLE bedrooms! There is also a second WC as well as two separate shower rooms! Plus Further upgrades to all rooms, such as vanity units.
The property presently offers its tenants: GFCH (Vokera Ecotec fitted in 2018 and certificated annually), 2 fridge freezers, separate laundry with tumble drier, and washing machine (both renewed 2018); a kitchen with electric oven and hob, extractor, dishwasher, etc; three modern bathrooms with showers. Tenants are offered an optional inclusive package by the present managing agents, but broadband is tenants’ own responsibility. All 6 bedrooms are fully furnished with double beds, and fitted desk, shelves and clothes storage. The majority also have custom-made vanity units with basins.
This is a POPULAR house has never failed to LET - even throughout the pandemic! ARRANGE A VIEWING WITH COAPT NOW BEFORE YOU MISS OUT!!!
