Full description

IDEAL H.M.O (House of Multiple Occupancy) or for STUDENT LETS for BUY-TO-LET INVESTORS - Offering a potential of over 10% RENTAL YIELD! With the option to rent with the current 5 student bedrooms, and the potential to make a 6th, or the option for the landlord to live on-site in a self-contained ANNEXE and still maintain 3-4 student bedrooms.... With two kitchens, bathroom and shower room, communal areas/lounges (annexe area), driveway parking, and a 62' rear garden. Currently offering potential for £2000 minimum monthly rental income*. Call today for further information.


The accommodation, with approximate room sizes, is as follows:

GROUND FLOOR:-

ENTRANCE HALL:
Entrance door to front to initial porch, stairs to first floor, under-stairs storage cupboard, oak flooring, radiator.

COMMUNAL LOUNGE or STUDENT BED ONE: (12' 5" x 11' 11")
Double glazed bow window to front, oak flooring, radiator.

SHARED KITCHEN: (10' 4" x 9' 9")
Double glazed window to side, fitted with a arnge of wall and base units, rolled edge work surfaces with sink inset, spaces fro washing machine, fridge freezer, washing machine and tumble dryer, tiled floor, door to rear to rear lobby. *Ideal as sharde kitchen, or potential to convert in to additonal bedroom/ground-floor accommodation.

REAR HALL:
Door to side (offering private access to the the rear accommodation if required), oak flooring.

COMMUNAL LOUNGE / STUDENT BED TWO: (11' 11" x 10' 11")
Double glazed sliding patio doors to rear, velux skylight window, oak flooring.

STUDENT BED THREE: (10' 2" x 9' 10")
Oak flooring, *could be used as ground-floor bedroom or in conjunction with the annexe area, to offer a self-conatined student bedsit with a higher monthly income.

KITCHEN TWO/ UTILITY: (8' 4" x 7' 2")
Double glazed window to side, double glazed door to side, range of wall and base units, rolled edge work surfaces with sink inset, built-in oven and hob, space for washing machine and fridge freezer, door to shower room. *Could be used as kitchen for self-conatined student bedsit or secondary shared kitchen.

SHOWER ROOM/WC:
Obscure window to side, fully tiled shower cubicle, vanity wash hand basin, low-level WC, towel radiator, tiled to walls and floor. *Could be used in conjunction with student bedsit if required.

FIRST FLOOR ACCOMMODATION:-

LANDING:
Loft access via hatch, storage cupboard.

STUDENT BED FOUR/ BEDROOM ONE: (11' 7" x 11' 4")
Double glazed window to front, laminate flooring, radiator.

STUDENT BED FIVE/ BEDROOM TWO: (13' x 9' 11" max)
Double glazed window to rear, laminate flooring, radiator.

STUDENT BED 6/ BEDROOM THREE: (12' x 9' 4" > 6' 1")
Double glazed window to front, laminate flooring, radiator.

STUDENT BATHROOM:
Obscure double glazed window to rear, panelled bath with shower over, low-level WC, pedestal wash hand basin, laminate flooring, towel radiator.

EXTERIOR:

REAR GARDEN:
The rear garden measures 62' in length and is mainly laid to lawn, with decked patio area and storage shed, offering an ideal shared outdoors area for student lets.

FRONT GARDEN:
Brick-paved driveway with parking for two cars.



APPROXIMATE BREAKDOWN OF RENTAL YILED POTENTIAL…..

Option 1 (requiring the least work)
Rent 3 double bedrooms upstairs at £400pcm = £1200pcm
Leave lounge/front room as communal lounge.
Leave main kitchen as communal kitchen.
Rent out rear of property as a 1 bedroom ground-floor apartment, with shared use of the garden, at £550pcm = £550pcm
Total income is £1,750pcm, offering a gross rental yield of 7.7%

Option 2
Rent 3 double bedrooms upstairs at £400pcm = £1200pcm
Rent front room/lounge as double bedroom at £425pcm = 425pcm
Leave main kitchen as communal kitchen.
Back room (overlooking garden) would be communal lounge, with further communal kitchen, and shower room.
Rent out room between front lounge & rear lounge at £400pcm (would require single lockable door and natural light source/window) = £400pcm
Total income is £2025pcm, offering a gross rental yield of 9.0%

Option 2
Rent 3 double bedrooms upstairs at £400pcm = £1200pcm
Rent lounge/front room downstairs at £425pcm = £425pcm
Convert main kitchen in to additional bedroom (small double), with access through to rear hall, rent at £375pcm = £375pcm
Back room (overlooking garden) would be communal lounge, with further communal kitchen, and shower room.
Rent out room between front lounge & rear lounge at £400pcm (would require single lockable door and natural light source/window) = £400pcm
Total income is £2,400pcm, offering a gross rental yield of 10.66%

Option 4
Extend further to the rear and create more bedrooms, thus increasing rental yield.

*All rental yields have been worked out based on purchasing the property at full asking price, and exclude standard monthly bills. All of the above are only suggested options from our valuer. Please seek professional building advice before converting/extending.




AGENTS NOTES
If you have any further questions regarding this property, please call Hamilton Piers Chelmsford.