This rather impressive 8 bedroom end terraced property (or is it semi-detached? You decide!) is located in the heart of Headingley, a very popular student district of Leeds, only minutes away from all the fantastic shops, restaurants, bars and pubs that Headingley is so well known for, and more importantly very close to Leeds Beckett University. It is also close to great transport links to the University of Leeds and City Centre.
According to the agent's description this SUBSTANTIAL EIGHT BEDROOM LICENCED HMO TERRACE is EXCEPTIONALLY WELL PLANNED STUDENT ACCOMMODATION OVER FOUR FLOORS and offers SOME LOVELY ORIGINAL PERIOD FEATURES TO RETAIN THE CHARACTER WITHIN THE PROPERTY.
The agent's photos would suggest there is no immediate opportunity to add value unfortunately, however, the figures stack up enough to make it more than work in our opinion. Currently on the market at £349,950.00 and let until the end of June 2015 at a rent of £37,440.00 per annum giving a gross yield of 10.7%.
A few points to note, according to the agent's particulars:
- The property although not yet let for another term of tenancy is being actively marketed for rent by the Letting Agent.
- The owners have stated no letting fees will apply should buyers wish to manage the property themselves.
- The marketing images have been provided by the sellers and we understand taken in 2010.
There could be a whole host of reasons as to why you want to buy, from it being the preferred option to a traditional pension, or maybe your savings interest rates are falling below your expectations. From the start you need to know exactly what you should be looking for, what cautions you will need to take as an investor, whilst looking at your investment as if it is you that is renting the property.
Redbrick Properties can benefit landlords through offering advice and guidance in areas such as:
- Strategy, location and property type.
- Local housing market opportunities.
- Overall performance indexes to maximize yield.
- Appropriate furnishing/décor to cater to potential tenants.
- Suitability and efficiency of a portfolio.
If you are a landlord looking to invest in residential property then please give us a call on 0113 2305552, drop into our office or send us a message. We'd love to talk with you!