House For Sale £140,000
***no chain*** ***income producing student investment *** ***strong letting history*** ***2 bed 1 bath*** ***well proportioned***
Superb opportunity to purchase an income-producing investment property located within easy reach of Lancaster city centre, bus links to universities and all of its amenities.
The property has been very well maintained over the years and benefits from a new roof to the main house and the flat roof extension, both were carried out in 2020.
Opportunities such as these are going to be so much harder to create with the article 4 regulation now in place in Lancaster, so capitalise now before prices increase further.
Test certificates are in place and available.
The property rests within walking distance of all of the amenities Lancaster has to offer including gyms, pubs, clubs, shops, eateries, and health services.
2 bed student let
This property is let 2022/2023 academic year with an annual gross income of £6,100.00 on a guaranteed basis with the current letting agent.
Current student tenants in place with a signed AST (assured short-hold tenancy agreement) in place until September 2023.
(tenant pays own bills)
In our opinion, the potential rental income for the 2023-2024 academic year will be in the region of £105 ppw (per person per week) x 2 x 48 weeks, offering a potential very generous annual gross income of £10,080.
The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).
This property does not need a HMO license at this time.
Entrance Vestibule
Carpeted flooring, door to lounge.
Lounge
Double glazed window to front, carpeted flooring, radiator, built-in cupboards housing gas and electric meters.
Kitchen/Diner
Double-glazed window to rear, range of matching wall and base units, four ring gas hob and extractor hood, electric oven, stainless steel sink, stairs to the first floor, breakfast bar, space for fridge/freezer, vinyl flooring radiator.
Utility Area
Double-glazed door to the yard, plumbing for washing machine, wall units and work surface, vinyl flooring.
Bathroom
Double glazed frosted window to side, panelled bath with electric shower, wash hand basin, vinyl flooring, radiator. W.C.
First Floor Landing
Carpeted flooring, access to the loft.
Letting Bedroom One
Double-glazed window to the front, carpeted flooring, radiator.
Letting Bedroom Two
Double-glazed window to the rear, carpeted flooring, radiator and cupboard housing the combi boiler.
Outside
Rear yard with patio area and gate to access road.
Useful Information
Tenure- Freehold
Council Tax Band - (A) - £1379.97 (2022)
Water meter - Yes
EPC - D - cert no. Expires - 14/03/2029
The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).
Investment Information
This property is let 2022/2023 academic year with an annual gross income of £6,100.00 on a guaranteed basis with the current letting agent.
Current Student tenants in place with a signed AST (assured short-hold tenancy agreement) in place until September 2023. (tenant pays own bills)
Landlords gas safety certificate & eicr (electrical installation condition report) are valid and in place.
In our opinion, the potential rental income for the 2023-2024 academic year will be in the region of £105 ppw (per person per week) x 2 x 48 weeks, offering a potential very generous annual gross income of = £10,080.
(tenant pays own bills)
Superb opportunity to purchase an income-producing investment property located within easy reach of Lancaster city centre, bus links to universities and all of its amenities.
The property has been very well maintained over the years and benefits from a new roof to the main house and the flat roof extension, both were carried out in 2020.
Opportunities such as these are going to be so much harder to create with the article 4 regulation now in place in Lancaster, so capitalise now before prices increase further.
Test certificates are in place and available.
The property rests within walking distance of all of the amenities Lancaster has to offer including gyms, pubs, clubs, shops, eateries, and health services.
2 bed student let
This property is let 2022/2023 academic year with an annual gross income of £6,100.00 on a guaranteed basis with the current letting agent.
Current student tenants in place with a signed AST (assured short-hold tenancy agreement) in place until September 2023.
(tenant pays own bills)
In our opinion, the potential rental income for the 2023-2024 academic year will be in the region of £105 ppw (per person per week) x 2 x 48 weeks, offering a potential very generous annual gross income of £10,080.
The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).
This property does not need a HMO license at this time.
Entrance Vestibule
Carpeted flooring, door to lounge.
Lounge
Double glazed window to front, carpeted flooring, radiator, built-in cupboards housing gas and electric meters.
Kitchen/Diner
Double-glazed window to rear, range of matching wall and base units, four ring gas hob and extractor hood, electric oven, stainless steel sink, stairs to the first floor, breakfast bar, space for fridge/freezer, vinyl flooring radiator.
Utility Area
Double-glazed door to the yard, plumbing for washing machine, wall units and work surface, vinyl flooring.
Bathroom
Double glazed frosted window to side, panelled bath with electric shower, wash hand basin, vinyl flooring, radiator. W.C.
First Floor Landing
Carpeted flooring, access to the loft.
Letting Bedroom One
Double-glazed window to the front, carpeted flooring, radiator.
Letting Bedroom Two
Double-glazed window to the rear, carpeted flooring, radiator and cupboard housing the combi boiler.
Outside
Rear yard with patio area and gate to access road.
Useful Information
Tenure- Freehold
Council Tax Band - (A) - £1379.97 (2022)
Water meter - Yes
EPC - D - cert no. Expires - 14/03/2029
The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).
Investment Information
This property is let 2022/2023 academic year with an annual gross income of £6,100.00 on a guaranteed basis with the current letting agent.
Current Student tenants in place with a signed AST (assured short-hold tenancy agreement) in place until September 2023. (tenant pays own bills)
Landlords gas safety certificate & eicr (electrical installation condition report) are valid and in place.
In our opinion, the potential rental income for the 2023-2024 academic year will be in the region of £105 ppw (per person per week) x 2 x 48 weeks, offering a potential very generous annual gross income of = £10,080.
(tenant pays own bills)
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