5 bed terraced house for sale Gilpin Terrace, Armley, Leeds LS12
- Castleton Primary School0.2 miles
- St Bartholomew's CofE Voluntary Controlled Primary School0.4 miles
- Leeds1.3 miles
- Burley Park1.5 miles
Features and description
- For Sale by Auction – T & c’s apply
- Subject to an undisclosed Reserve Price
- Buyer’s fees apply
- The Modern Method of Auction
- Variety of uses subject to the necessary consents
- 4 bedsit rooms and a self contained studio
- Current rent £16,477
- Approx 15% gross yield!
- *cash purchase only*
- Investment opportunity
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Summary A large Victorian terraced property that has been rented room-by-room for at least the last 20 years. There are 4 bedsit style rooms in the main house and a self contained studio flat to the rear of the property that are currently let generating an impressive income of £16,477pa. The property is in need of modernisation. The local council have indicated that some changes to the layout of the property should be made if there is to be continued use as a HMO.
Each room has a portable electric heater, individual electric hot water heaters, and lockable doors.
Hallway Providing access to room 1 and stairs to 2nd floor
room 1 12' 4" x 11' 10 (into recess)" (3.76m x 3.61m) Double glazed window, ceiling lighting, kitchenette area with sink, work surfaces and units
1st floor landing Providing access to bedroom 2, bedroom 3 (spare room) and shower room
ensuite shower room Wash hand basin, low lying w/c, shower cubical with electric shower unit, fully tiled walls, double glazed obscured window and ceiling lighting
room 2 12' 5" x 15' 6" (3.80m x 4.73m) Double glazed window, vinyl flooring, ceiling lighting, sink area with work surfaces and units
store 9' 7" x 10' 1" (2.94m x 3.08m) Double glazed window, vinyl flooring, TV point, kitchenette area, work surfaces and units
room 3 12' 4" x 15' 4" (3.77m x 4.69m) Double glazed window, vinyl flooring, kitchenette area with work surfaces, sink and units, ceiling lighting
room 4 13' 5" x 15' 4" (4.09m x 4.69m) Double glazed window, ceiling lighting, kitchenette area with sink, work surfaces and units.
Rear yard Providing access only to self contained studio at the rear of the property with fencing and storage shed.
Self contained studio flat 12' 8" x 15' 6" (3.87m x 4.73m) Currently accessed via a private entrance to the rear of the property. Double glazed window, vinyl flooring, ceiling lighting, kitchenette area featuring a range of wall and base units, work surfaces and sink. Shower room incorporating wash basin, low lying w/c, shower cubical with electric shower unit, fully tiled walls, double glazed obscured window and ceiling lighting
other information Total current rent: £16,477pa
We understand that most of the tenants are in receipt of housing benefit/universal credit.
The current owner has had the property for nearly 20 years and although we believe C4 planning permission is not in place, there is historic HMO use that can be evidenced.
We have been advised that due to the changes that have been adopted by Leeds City Council regarding communal space standards, that the council have recently advised that a communal kitchen and communal lounge must be installed to the ground floor of the property. This means that the studio flat must be re incorporated into the house.
EPC energy rating is currently G although we have been advised by a Domestic Energy Assessor that this could be made to be an E or better by installing a fixed heating system.
We have been advised that the you could not go straight to a mortgage on this property and therefore the successful purchaser would need to buy with cash, or bridging finance. A mortgage could be raised later once the necessary compliance works have been carried out.
1 floor plan available
View the floor plan to understand the space and layout of this property.
More informationReport this listing
Want an expert valuation of your home?Book an agent valuation
Property descriptions and related information displayed on this page are marketing materials provided by - Dwell. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Dwell for full details and further information.