4 bedroom House of Multiple Occupation in Derby
340 Abbey Street, Derby DE22 3SZ
- Lot No: 78
- Property Type: House of Multiple Occupation
- Contract Type: Unconditional with Fixed Fee
Guide Price* £100,000+ plus fees
Result Sold at Auction £105,000
Situated within a short walking distance of the city centre is an attractive bay fronted mid terraced property with potential to be a HMO, subject to any necessary licences. Being part let, part vacant currently producing an annual income of £9,840. At present three of the four bedrooms are tenanted and when fully let we would anticipate a gross income of £13,200 pa and based on the current guide price this would represent an impressive 13.2% return. In brief the well equipped living accommodation has the benefit of gas central heating, Upvc double glazing and consist of Entrance hall, bedroom, communal lounge, spacious dining kitchen with built in appliances (combination boiler), rear hall with modern fitted shower room and a separate WC. To the first floor landing are three bedrooms and a shower room. Outside to the front there is a small forecourt and immediately to the rear an easy to manage low maintenance garden. The property enjoys a convenient location always popular with landlords and investors locally and nationally. Excellent freehold residential investment opportunity.
Room 1, et at £320 pcm (£3840pa). Room 3, let at £260 pcm (£3,120pa). Room 4, Vacant and previously let at £280 pcm (£3,360pa) Room 5, let at £240 pcm (£2,880pa)
These tenancy figures are subject to the vendors providing the tenancy contracts – see legal pack for further information. In our opinion there is scope for some significant rental increase.
- Buyer’s Fee- payable on exchange of contracts. This is usually £1074 including VAT, subject to the Special Conditions of Sale. This fee does not contribute towards the purchase price of the property.
Date 30th September 2021
Venue National Property Auction
The National Property Auction will be conducted behind closed doors. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction.
If you have any questions, call our team on 0345 222 0197