Register
for REALM 47 Group updates, including investment opportunities:

Subscribe For Updates

HMO Investment Opportunity

Property Overview

  • 5 Bedrooms
  • 2 Bathrooms
  • Mid Terraced property

Financial Information

  • Yield 12.3% Net of Utilities
  • Market Rent £1339.14 / £1755.00 pcm Exc. bills

Location Information

  • The property is located just off Beverley Road. Princes Avenue and Newland Avenue are within close proximity. These roads offer a range of amenities including, numerous highly rated cafes and restaurants; independent shops, Lloyds Bank, Tesco, Sainsburys and a post office.
  • The property is also within walking distance of the University of Hull, the excellent location means that the property has versatility allowing it to be easily switched between student and working tenants dependent on market demand and owner preference.

More Information

To receive the full brochure you must register on our exclusive buyers database here.

Detailed Description

Description

We believe this property works best with a mortgage at 75% LTV or less based on a mortgage interest rate of 5%.

ABILITY TO INCREASE THE RETURNS FROM SEPTEMBER 2024 ONWARDS.

A fantastic newly refurbished HMO, the five bedroom, two bathroom house is located just off of Beverley Road. Beverley Road is a popular location for both students and working professionals due to the range of amenities available, including cafes, restaurants and supermarkets.

The property’s spacious and versatile accommodation will appeal to any demographic of tenant but it has historically been let to students and has been designed with students in mind. With the spacious rooms offering dedicated work spaces, a fully equipped modern kitchen living and dining space. Which is not only ideal for its primary purpose but also for housemates to socialise and get the most out of their time as students at Hull University.

The property is fully double glazed, including the front and back door and is heated by a gas ‘Ideal’ combi-boiler which has a remote heating control.

The shared accommodation includes a light entrance hallway with lovely high ceilings, downlights and appealing neutral decor which is carried throughout the property. The front and middle reception rooms are now spacious and bright bedrooms with high ceilings, original decorative coving and striking exposed brick chimney breasts further complimented by mustard feature walls opposite. At the end of the hallway is a door through to the modern open plan kitchen, living and dining space with mustard feature wall that really makes the neutral scheme colour pop!

The lounge area has a beautiful feature exposed brick wall and is furnished with sofas and large wall mounted TV, the space flows through to the modern yet classic style kitchen which is well laid out with sink in front of the window, electric oven and integrated fridge freezer and integrated washing machine.

There is access to the rear garden from the back of the kitchen. The rear garden is partially laid to lawn and benefits from a decked area with table – ideal for entertaining and alfresco dining.

To the first floor there are three further well proportioned double bedrooms and two modern shower rooms.

All bedrooms are decorated in whites, neutrals, some with exposed brick walls and some with mustard feature walls. The bedrooms have been tastefully furnished with wooden effect window blinds, modern light fittings, double beds, mattresses, mattress protectors, bespoke furniture including: wardrobe, drawers, workspace, chair and TV. Three of the bedrooms also benefit from a wash basin with vanity below.

The current owner holds an HMO licence for the property and has confirmed that the property met with all of the conditions of the licence. Please note that while a HMO licence is valid for 5 years, they are not transferrable and follow the person not the property – a new licence is required upon transfer of ownership.

The property meets with current fire regulation requirements having a Grade D mains interlinked fire alarm system installed, fire doors throughout and a fire blanket in the kitchen. The property has also been fitted with emergency lighting and call points (emergency break glass points).

The property is located just off Beverley Road. Princes Avenue and Newland Avenue are within close proximity. These roads offer a range of amenities including, numerous highly rated cafes and restaurants; independent shops, Lloyds Bank, Tesco, Sainsburys and a post office.

The property is also within walking distance of the University of Hull, the excellent location means that the property has versatility allowing it to be easily switched between student and working tenants dependent on market demand and owner preference.

The property sits within an Article 4 area which prevents the conversion of C3 (residential dwellings) into C4 HMO’s without planning permission, due to the cap on new supply the demand for these properties has gone up significantly and as such the values are strong. This property was converted prior to the implementation of the A4 and the seller can provide supporting evidence.

To receive a copy of the comprehensive brochure please register on our buyers database – visit our website to complete the buyers registration form.

Buyers premium of £6,000 + VAT – payable in two parts:
– A non-refundable reservation fee of £1,500 plus VAT
– The balance is due upon legal completion (which is collected and paid by the buyers solicitor)