Property description

GREAT INVESTMENT OPPORTUNITY - A chance to acquire an 8 bedroom HMO Investment property with private parking located within 200 metres of the Main University Building in one of the most sought after student locations. The current gross rental income is £620.00 per week with the potential to increase this in the next academic year to around £740 per week (£31,080.00 PA - based on 42 weeks). In the present climate of low interest rates, this property offers a yield (for this academic year) in the region of 9% rising to a potential 10.35% (for the next academic year), this represents a favourable return for an investor.

Description
This end of terrace 3 storey town house benefits from Upvc double glazing and combi gas fired central heating. The entrance hall has a tiled floor and the lounge is an Inviting communal room with a front bay window, feature fireplace and laminate flooring. Bedroom 1 also benefits from laminate flooring and the modern fitted kitchen has a range of work surfaces and base/wall units along with 2 electric ovens, 2 electric hobs and tiled flooring. There is also a useful rear utility room with a WC off. To the first floor, there are two shower rooms, 3 bedrooms and to the 2nd floor, four further bedrooms.

Entrance Lobby

Entrance Hall

Lounge (Front aspect) - 12' 7'' x 11' 10'' (3.83m x 3.60m)

Kitchen (Side aspect) - 13' 9'' x 9' 3'' (4.19m x 2.82m)

Utility Room (Rear & side aspect) - 7' 4'' x 6' 0'' (2.23m x 1.83m)

Downstairs WC

Bedroom 1 (Rear aspect) Double - 11' 7'' x 11' 6'' (3.53m x 3.50m)

Stairs to the First floor landing

Shower Room 1 (Side aspect)

Shower Room 2 (Side aspect)

Bedroom 2 (Rear aspect) Double - 11' 7'' x 11' 8'' (3.53m x 3.55m)

Bedroom 3 (Front aspect) Double - 12' 4'' x 8' 9'' (3.76m x 2.66m)

Bedroom 4 (Front aspect) Single - 9' 2'' x 8' 4'' (2.79m x 2.54m)

Stairs to the Second floor landing

Bedroom 5 (Side & rear aspect) Double - 14' 8'' x 9' 5'' (4.47m x 2.87m)

Bedroom 6 (Rear aspect) Double - 11' 0'' x 10' 9'' (3.35m x 3.27m)

Bedroom 7 (Front aspect) Double - 13' 2'' x 8' 8'' (4.01m x 2.64m)

Bedroom 8 (Front aspect) Single - 10' 4'' x 7' 2'' (3.15m x 2.18m)

Outside
Small front forecourt, enclosed rear yard with a timber gate.

Private Parking Area
Located to the rear and laid to hard standing - Space for up to 6 vehicles. There is an extended garden area beyond the parking area providing ample space to develop further parking if so required, alternatively, this area could be an ideal site to construct a double garage (subject to the required consent).

General Information
Bangor is the oldest city in Wales with a population of approx 18,800 (2011 census) including around 10,000 students at Bangor University one of the very highest rated Universities in Wales for teaching excellence and amongst the top 15 universities in the UK in this category.