Located in one of the most popular student rental areas in the city is this expansive six bedroom HMO. Owing to is position, the property is much larger than most in the area, allowing for many extra provisions above and beyond that generally associated with Buy-To-let properties in the city.
Let on a fixed term AST until August 2024, the property presently returns a rental of £3,311 PCM / £39,732 PA, excluding any bills or extras. The tenants had renewed from the year prior. The house is also listed for the following term of 2024-25 with an increase in rental proposed at £4,056 PCM / £48,672 PA, in line with market growth, providing an exceptionally attractive 8.5% gross yield.
The property commands a strong position in the rental market, and is always among top performers, due it its favourable location, and hosting two kitchens, one on each floor, and six large double bedrooms.
Unlike many HMOs in the city, this property holds a multitude of potential exit strategies. Residential properties in the area retain similar, and often higher, values than buy-to-lets, and because of the properties vast size, a title split could be considered (subject to relevant permissions) and conversion to flats for continued rental, or resale.
Coapt will be delighted to also discuss management and rental services available for the property, depending on your specific requirements.
Virtual 3D tour available on request.
EPC: D
