•Well presented seven bedroom HMO
•Final room now reserved – rental income will be £30,720 per annum
•Gross yield of 12.29%
•Less than one mile from Derby city centre
•Approx. 233 m2 / 2,510 ft2
The property is located less than one mile to the south west of Derby city centre in a predominantly residential location, with some commercial businesses operating nearby. More specifically, the property is positioned on the northern side of Burton Road close to the junction with Abbey Street which runs north towards Mercian Way (A601).
The property is a traditionally constructed semi-detached period property with accommodation arranged over basement, ground, first and second floors. On entering the property at ground floor level there is the main hallway and communal space, which leads into the communal living room and kitchen. The kitchen is well fitted and has two separate cookers each with four gas hob burners. There is a spacious balcony off the kitchen over looking the garden.
Within the basement, there are two bedrooms and one shower room with W.C and wash basin, plus utility room and additional old outdoor toilet [not in use]. To the first floor there are three bedrooms, and two communal bathrooms. To the second floor there are two double bedrooms.
Approx. total floor area: 233 m2 / 2,510 ft2
[Taken from EPC]
Six of the seven rooms are currently occupied, and with the final room now reserved, the current rental income will be £30,720, reflecting a gross yield of 12.29%, based on the guide price.
Bed 1 - £415 pcm [new letting]
Bed 2 - £350 pcm [since Sep 2020]
Bed 3 - £425 pcm [new letting]
Bed 4 - £350 pcm [since May 2021]
Bed 5 - £340 pcm [now reserved]
Bed 6 - £350 pcm [since Aug 2021]
Bed 7 - £330 pcm [since June 2016]
The property is sold freehold subject to the occupational tenancies. All tenants are on formal AST agreements. Please see legal pack for further information.
The property is rated in Council Tax Band C. Council tax payable for 2021/22 is £1,660.46.
2% (minimum £3,600) inc VAT.
Please contact a member of John Pye Property on 0115 970 6060 or email [email protected] to arrange an appointment.
If you are thinking of selling your property, contact us now for a free appraisal and benefit from:
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