House For Sale £675,000
An excellent opportunity to acquire HMO student accommodation conveniently located within a short walking distance of the city centre and within 0.7 miles of both Chichester University and Chichester College. The building currently produces an income of just over £48,000 per annum.
An adjacent Victorian property, formerly a shop with living area above and since converted into HMO student accommodation and a self-contained studio flat. The ground floor flat lies on the southern side of the building. The studio/bedroom is some 27 ft in length, a fitted kitchen lies adjacent and a doorway from the sleeping area leads to the internal bathroom. The HMO accommodation includes an entrance hall with bicycle storage, bin room, a spacious sitting room and west facing common/dining room with adjacent kitchen having double doors onto the garden. A rear hallway also provides access to the garden with adjacent ground floor cloak/shower room and utility room. On the first floor the central washing area has a shower and two WC's with adjacent wash hand basin. There are in total six bedrooms and a communal storage area. The internal floor area is just over 2,600 sq ft whilst the combined rent of the student accommodation and studio flat comes to just over £48,000 for the year beginning 1st September 2023 inclusive of bills, excluding council tax. Projected rental income for academic year commencing 1st September 2024 of just over £52,000. The HMO is on the Chichester and Arun Landlord Accreditation Scheme membership number 669 which expires 30/9/2023. The current HMO and accreditation certificates are currently being renewed for the next 5 year period.
An adjacent Victorian property, formerly a shop with living area above and since converted into HMO student accommodation and a self-contained studio flat. The ground floor flat lies on the southern side of the building. The studio/bedroom is some 27 ft in length, a fitted kitchen lies adjacent and a doorway from the sleeping area leads to the internal bathroom. The HMO accommodation includes an entrance hall with bicycle storage, bin room, a spacious sitting room and west facing common/dining room with adjacent kitchen having double doors onto the garden. A rear hallway also provides access to the garden with adjacent ground floor cloak/shower room and utility room. On the first floor the central washing area has a shower and two WC's with adjacent wash hand basin. There are in total six bedrooms and a communal storage area. The internal floor area is just over 2,600 sq ft whilst the combined rent of the student accommodation and studio flat comes to just over £48,000 for the year beginning 1st September 2023 inclusive of bills, excluding council tax. Projected rental income for academic year commencing 1st September 2024 of just over £52,000. The HMO is on the Chichester and Arun Landlord Accreditation Scheme membership number 669 which expires 30/9/2023. The current HMO and accreditation certificates are currently being renewed for the next 5 year period.
