House For Sale £100,000
Middlesbrough, Middlesbrough TS1

INVESTMENT OPPORTUNITY IN TS1: 2-BEDROOM PROPERTY CONVERTED INTO A 4-BEDROOM STUDENT HOUSE

Introducing Percy Street, an enticing investment property in TS1. Originally a 2-bedroom residence, this property has been converted into a 4-bedroom space, ideal for student accommodation.

Situated in a prime location with a 5-minute walk to Teesside University, the current achieved rent is £1000 excluding bills. The property has been rented as a whole house rather than on a room-by-room basis, although this is possible for the next September intake.

Your NET annual take-home, after deducting management costs, would be £10,800 p.a. This results in an impressive 11% return on investment at the asking price. If you are considering renting to students for the next intake, we would suggest renting the rooms for £390pcm per room giving you a return of 13.4% after bills and management costs have been deducted.

Please note that if you opt for a mortgage, there will be additional costs to consider. At Ashbrookes, we include a CAP in the bills at £20 per week per room, a detail already incorporated into the NET figures.

To arrange a viewing or gather more information before this property gets taken, kindly contact us at[use Contact Agent Button] (option 1).

Measurements:

-Kitchen 10'8" x 6'4" (3.25m x 1.93m)
-Communal 12'6" x 9'3" (3.8m x 2.82m)
-Bathroom 6'11" x 6'6" (2.1m x 1.98m)
-Bedroom 12'9" x 10'6" (3.89m x 3.2m)
-Bedroom 11'3" x 8' (3.43m x 2.44m)
-Bedroom 12'7" x 10'7" (3.84m x 3.23m)
-Bedroom 11'9" x 10'4" (3.58m x 3.15m)

Accommodation & Amenities:
-Please note this is a 2 bedroom for sale but the current vendor has utilised it as a 4 bedroom for rent
-All furniture to be sold within the price agreed
-Currently let with ourselves
-5 minute commute to Teesside University
-Recently refurbished
-13.4% yield for students