Portland Street, Lincoln, LN5
Lincoln
£220,000 Offers Over
Property features
- Fantastic Investment: Estimated return of 12.5% Gross (10.5% Net) Per Annum.
- Active HMO Licence: Ready to let with a valid HMO licence, ensuring immediate rental income and compliance with regulations.
- Prime Location: Situated in the heart of Lincoln city centre, offering excellent access to amenities, transport links, and the University of Lincoln.
- Five Double Bedrooms: Maximises rental income potential with spacious accommodation for tenants.
- Shared Reception Area/Lounge: Provides a communal space for tenants to relax and socialise.
- Fitted Kitchen: Equipped for shared use, catering to the needs of multiple occupants.
- Rear Communal Courtyard: Offers outdoor space for tenants to enjoy.
- Investment Opportunity: Ideal for investors seeking a high-yielding HMO property in a prime location.
- No Onward Chain: Facilitates a quick and straightforward purchase.
- Vacant Possession: Allows for immediate occupation or re-letting upon completion.
Details
This fully licensed 5-bedroom HMO presents an exceptional investment opportunity in the heart of Lincoln. Located within easy reach of the city centre, the University of Lincoln, and a wealth of amenities, this property boasts a remarkable track record, having maintained 100% occupancy for the past seven years with no void periods (except for the current period due to the sale).
The property is arranged over three storeys and comprises five generously sized double bedrooms, a shared reception room providing a comfortable space for tenants to relax, and a well-equipped fitted kitchen ideal for shared living. A communal courtyard to the rear offers a welcome outdoor space. Currently vacant, this property is ready for immediate occupation or re-letting, offering a seamless transition for the new owner.
With a strong rental yield of approximately 12.5% (Gross) - 10.5% (Net), generating an impressive total yearly income of £27,600, this HMO is a lucrative investment. At present, these have been the approximate monthly costs - £200 Energy Costs - £15 TV License - £120 Water Costs - £40 Broadband. Offered with no onward chain, this property facilitates a swift and straightforward purchase.
Exclusively listed with Walters, this opportunity is not to be missed. Contact us today to arrange a viewing or to discuss this exceptional investment further.
Floor Plans
EPC
