House For Sale £500,000
East Park Parade, Leeds

A SUBSTANTIAL DETACHED EIGHT BEDROOMED HMO INVESTMENT PROPERTY STANDING ON A PROMINENT CORNER OVERLOOKING EAST END PARK PLAYING FIELDS, CLOSE TO LOCAL AMENITIES AND WITHIN EASY REACH OF LEEDS CITY CENTRE AND ONTO THE MAJOR ROAD & MOTORWAY NETWORK.

CLICK ON VIRTUAL TOUR OR ON 'FULL DETAILS' FOR LOTS MORE INFORMATION ABOUT THE PROPERTY, THE LOCAL AREA, TRANSPORT LINKS AND SCHOOLS.

The property, formally a doctors surgery, has been converted into a very good quality and well managed eight bedroomed House in Multiple Occupation (HMO) with the relevant planning permission and is being run as a very successful residential investment, currently generating a total gross rent of £51,600 including bills. The seller believes the net rent less bills to be circa £42,500 p/a offering a very attractive yield of circa 8.5% based on the asking price. (Bills include gas, water, broadband and council tax. Tenants pay their own electric based on individual sub-meter usage). The rooms are all let on individual tenancies with most now on rolling contracts.

Each bedroom is self-contained having an en-suite shower room w/c and kitchenette, with an additional lounge and kitchen for communal use. There is an extensive basement providing useful storage, but also offers potential for further development, plus a large garage to the side, again, ideal for storage but offering great potential to develop or incorporate into the main building, all subject to relevant consents.

The seller has a HMO Licence for eight occupants until 6th November 2025. There is no lettings management tie-in, allowing buyers to self-manage or appoint their preferred agent.

Internal viewing strongly recommended to fully appreciate this well managed and successful investment concern.

Council Tax Band: D
Tenure: Freehold