9 bed end terrace house for sale

Newark Road, Lincoln, Lincolnshire LN5

***impressive nine bedroom HMO in A fantastic location***

Welcome to 121-123 Newark Road. This superb investment property is currently achieving circa £56,000 per annum but has the potential to achieve over £60,000. The property is currently filled with the latest room achieving £130 per week. All of the tenants are on AST's.

The property boasts 9 bedrooms with 9 ensuites as well as the three communal areas, laundry room & WC. There is a fully enclosed courtyard to the rear. Offering fantastic bedroom sizes to give tenants independent living.

When the current vendors purchased the property the building had permission to be turned into five separate flats. The vendors started some of the structural work to protect the planning permission.

Freehold/City of Lincoln Council-Band B/EPC Grade D.

Important Note to Potential Purchasers & Tenants:
We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. Potential purchasers: Fixtures and fittings other than those mentioned are to be agreed with the seller. Potential tenants: All properties are available for a minimum length of time, with the exception of short term accommodation. Please contact the branch for details. A security deposit of at least one month’s rent is required. Rent is to be paid one month in advance. It is the tenant’s responsibility to insure any personal possessions. Payment of all utilities including water rates or metered supply and Council Tax is the responsibility of the tenant in most cases.

LIN250218/8

Description

***impressive nine bedroom HMO in A fantastic location***

Welcome to 121-123 Newark Road. This superb investment property is currently achieving circa £56,000 per annum but has the potential to achieve over £60,000. The property is currently filled with the latest room achieving £130 per week. All of the tenants are on AST's.

The property boasts 9 bedrooms with 9 ensuites as well as the three communal areas, laundry room & WC. There is a fully enclosed courtyard to the rear. Offering fantastic bedroom sizes to give tenants independent living.

When the current vendors purchased the property the building had permission to be turned into five separate flats. The vendors started some of the structural work to protect the planning permission.

Freehold/City of Lincoln Council-Band B/EPC Grade D.

Breakdown of each room size and current rent is as below:

Kitchen

16.72m

Sitting Room

15.40m

Sitting/Dining Room

24.80m

Laundry

6.51m

Bedroom 1

11.16m - £118 per week

Bedroom 2

13.64m - £118 per week

Bedroom 3

11.16m - £118 per week

Bedroom 4

9.66m - £118 per week

Bedroom 5

11.44m - £118 per week

Bedroom 6

11.16m - £118 per week

Bedroom 7

16.12m - £130 per week (recently relet)

Bedroom 8

13.64m - £118 per week

Bedroom 9

10.85m - £118 per week

Totals

Currently achieving £1074 per week.