Cromer Street is an attractive long standing HMO; the four bedroom, one bathroom house is located on a residential street just off Beverley Road – a popular hub for all Hull residents but especially students being so close to the University and amenities. The property is immaculately presented and should be seen to be fully appreciated.
Based on 75% LTV with a 5% interest rate and taking buying costs into account (including the buyers fee) the projected cashflow of £631.99 per month and ROI of 15.7% present a very strong investment proposition.
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 bedrooms offering dedicated work spaces, a fully equipped modern kitchen and separate living room. A perfect setting for housemates to socialise and get the most out of their time as students at Hull University.
The accommodation comprises – entrance hall with composite front door, high ceilings, flush fire doors and tasteful decor which is carried throughout the property.
The first room which is to the left of the entrance hallway is the first of the four bedrooms offering bright, spacious accommodation as well as exposed brick bursting with character. Continuing through the ground floor of the property you will then enter the communal reception room with under-stair storage area, the lounge then leads through to the attractive recently refitted kitchen with appliances including integrated dishwasher, fan oven, electric hob and integrated fridge / freezer. The Herringbone style flooring and white units with solid wooden worktops make the kitchen bright and attractive. To the rear of the kitchen there is a utility room with a washing machine, boiler, and finally a modern bathroom. There is access to the rear garden via the door in the utility room.
To the first floor there are a further three well proportioned double bedrooms, two of which offer the beautiful characterful exposed brick finish. All four bedrooms offer space for a desk and a wardrobe.
Externally there is an enclosed hard surface yard to the rear with shared pedestrian access to the back.
The property is fully double glazed, including the front, and back door and is heated by an ‘Ideal’ gas boiler which has a remote heating control.
The property meets with current fire regulation requirements having a fire alarm system installed, fire doors throughout and a fire blanket in the kitchen.
The property is a short walk from Princes Avenue, Newland Avenue and Beverley Road. 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.
More Information
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Agent: Kim Raines
Kim@realm47.com
01482 453756
