7 Bed Terraced House For Sale West Parade, Lincoln, LN1

8.5% NET YIELD!\r
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A SUBSTANTIAL 7 DOUBLE BEDROOM STUDENT HMO PROPERTY\r
FULLY TENANTED FOR THE 2023/24 ACADEMIC YEAR\r
CURRENTLY GENERATING AN INCOME OF £38,500pa\r
2024/25 TENANCY CONFIRMED AT £39,270pa\r
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Take a look at the photos, floorplan and 360 virtual tours for every room!\r
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Mr Investa are pleased to bring to the market this fantastic buy-to-let investment opportunity located in a convenient and popular area, close to Lincoln City Centre and University of Lincoln whereby students benefit from having a variety of amenities nearby including a Sainsbury’s Local, Co-Op, ODEON cinema and a number of bars/restaurants. The west end attracts many students' year on year therefore making this property an attractive investment.\r
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Each bedroom includes a double bed, study desk, chair and drawers/wardrobe. As well as the seven bedrooms, the property also benefits from having a spacious living room, a large dining kitchen fitted with modern appliances, two bathrooms and an additional WC. Outside there is a rear yard which opens up to a driveway with space for 6 vehicles.\r
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Tenanted on an 11 month contract until 31st July 2024!\r
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Current Financial Performance for the 2023/24 Academic Year\r
Rental Income: £500pcm each / £38,500 per annum based on 11 months\r
Cost of all bills: £5,000 per annum approx.\r
Lettings Management Fee 10% all inclusive: £3,850 per annum\r
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NET Income: £29,650 per annum\r
NET Yield: 8.5%\r
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This property is currently managed by a professional local letting agent who have already confirmed a tenancy for the 2024/25 academic year at £510pcm per room. Gross rental income for 2024/25 is £39,270 per annum.\r
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NOTE TO PURCHASERS: Whilst all Information is believed to be correct, the information is provided via the seller and should always be check via yourself or legal representative. Mr Investa LTD does not accept any responsibility in respect of this information provided.