Auction Property 5 Bed Investment 

Newland Avenue, Hull

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Features

  • Available subject to auction terms and conditions
  • Five bedroom HMO
  • Currently part let for £14,400 pa
  • When fully let and following some minor improvements £20,400 pa
  • Potential gross yield 16.32% based on the guide price
  • Sought after location
  • Mid-terrace property
  • Presents well internally
  • Two bathrooms
  • Freehold

Quick Details

5 Bedrooms1 Reception1 Bathroom

Address

11 Newland AvenueHullEast YorkshireHU5 3AG
Details
EPC
Map
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Property Details

Available subject to auction terms and conditions
Five bedroom HMO
Currently part let for £14,400 pa
When fully let and following some minor improvements £20,400 pa

•Auction Date: 25th & 26th September 2019
•Guide Price: £125,000+
•Five Bedroom HMO
•Ready Made Investment Opportunity
•Freehold

This recently refurbished five bedroom HMO is arranged over two storey’s, having two ground floor bedrooms, three first floor bedrooms and a bathroom on each floor. The kitchen and living room are linked by a set of double doors, creating open plan living space. The living room is neutrally decorated and has good natural light. There is central heating and double glazing throughout.

The kitchen benefits from fitted base and eye level units, an integrated oven and hob and a stainless-steel sink and drainer. The kitchen has space for a fridge / freezer and plumbing for an optional washing machine. The ground floor bathroom comprises of an independent shower, W.C and wash hand basin, and the first floor bathroom has a bath with shower over, wash hand basin and W.C.

The rear garden can be accessed via the lobby.

Accommodation

107m2 (1152 sq ft)
(measurement taken from the EPC register)

Investment Analysis

Four rooms are currently let and achieving £1,200 pcm, Once the final room is let this would increase to £1,500 pcm, following a few improvements, once all rooms are relet, we are advised this could be increased to £1,700 pcm. Please note 1 of the 4 current tenants are in arrears, the current landlord is working closely with the tenants to resolve this issue.

Services

We understand the property is connected to mains gas, electricity, water and drainage, interested parties should conduct their own investigations

Council Tax

The property is rated in Council Tax Band A. Council Tax payable (2019/2020) is £1,120 p.a. However, if the property is rented to students council tax would not be applicable.

Guide Price

£125,000+

VAT

VAT not applicable.

Buyers Premium

2% (min. £3,600) inc. VAT

Viewings

Viewings by appointment only. Please contact a member of John Pye Property on 0115 970 6060 or email property@johnpye.co.uk to arrange an appointment.

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