6 bedroom house for sale

Overview

We believe this property works best with a mortgage at 75% LTV or less based on a mortgage interest rate of 5%. A fantastic newly refurbished HMO. The six bedroom, three bathroom house is located on one of Hull's most popular high streets and is positioned just to the North of the other most popular streets - Princes Avenue. 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 partially open plan 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 combi-boiler which has a remote heating control. The shared accommodation includes - a bright entrance hall 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 exposed brick chimney breasts. At the end of the hallway is a door through to the striking open plan kitchen, living and dining space with mustard feature wall that really makes the neutral scheme colour pop! The lounge area is furnished with sofas, dining table for six, large wall mounted TV, the space flows through to the modern yet classic style kitchen which is well laid out with 1 1/2 bowl sink position in front of the window, a large electric range cooker, American style freestanding side by side fridge freezer, integrated washing machine and dishwasher. Beyond the kitchen lies the first of the two fantastic shower rooms, thoughtfully designed having been fitted with downlights, a low profile shower tray, mixer shower, vanity unit with mixer tap, wall storage unit with mirrored doors, WC a nd heated towel radiator. The ground floor also benefits from an under-stairs storage cupboard and UPVC glazed back door providing access to the good sized rear garden. To the first floor is the last of the three shower rooms and three further bedrooms, the sixth and final bedroom takes up the entirety of the second floor and as such has the added bonus of a sofa in the room. All bedrooms are decorated in whites, neutrals, some with exposed brick walls and 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. Some rooms also benefit from a wash basin and vanity unit. Externally the plot is approximately in 0.033 acres in total, has a small enclosed forecourt to the front, an enclosed yard to the rear with access along a pedestrian alleyway. 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 well located with Princes Avenue, Newland Avenue and Beverley Road on the doorstep. 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. The current tenancies are room only tenancies, with the exception of a couple who have taken two rooms and are on a joint tenancy (at a reduced rate), meaning there are five individual tenancy agreements (AST's) in place, they had various start dates in October 2023 but all are fixed until 30th August 2024. Hull University request that properties are marketed from January for the following academic year, with tenancies starting in September. Therefore, the property is currently being marketed for tenancies starting on 1st September 2024. The property is being advertised at £90.00 per person per week - excluding bills. The length of student tenancies in Hull varies but they are usually between 48-52 weeks. We have based our 24/25 cashflow forecast on £79 pppw on a 52 week tenancy to be conservative. Gross Rent: £1,755.99 per calendar month The rent excludes utility bills, which are managed by an independent utility company, arranged through the property management company. 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 3% + 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) For more details and to contact: https://realtyww.info/houses_hull-d196390/for-sale_i69471664

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