Every so often we use our expertise to search the local property market for good potential investments, not only for new landlords looking to dive into the residential property market but also portfolio landlords looking to bulk up their portfolio.
And what a beauty Redbrick Properties have found for you this week. Located in a sought after location in Hyde Park, as it is close to Uni as well as being a short walk from Headingley and Burley.
This good size 5 bed HMO student property is fully let until 30th June 2022 and will currently bring in a gross yield of 6.96%.
I believe there is definitely scope to increase the rent on this property, and thereby the yield, through some basic renovations such as carpets, decoration etc.
You can check out the details here:
Located in Hyde Park, the most popular student districts of Leeds, on the door-step of lots of fantastic shops, restaurants, bars and pubs. More importantly it's a close walk to Leeds University and the City Centre and excellent transport links which take you to Headingley and Leeds Beckett University.
According to the agent's description:
"A GAS CENTRALLY HEATED & UPVC DOUBLE GLAZED GOOD SIZED TERRACE PROVIDING WELL PRESENTED FIVE BEDROOMED ACCOMMODATION, currently LET UNTIL 30th JUNE 2021 at £23,980 and RE-LET UNTIL 30th JUNE 2022 on individual tenancy agreements at £22,611 PA.
...The property provides spacious, smartly presented accommodation including a modern dining kitchen, open plan to a good sized dining room and a separate lower ground floor lounge! Additional features include, gas central heating, UPVC double glazing and hardwired smoke alarms."
A few points to note, according to the agent's particulars:
- LET UNTIL JUNE 2021 AT £23,980 per annum
- Re-let from 1st July 2021 - 30th June 2022 at £22,611 per annum
- HMO Licensed until 12th Feb 2023
- Being Sold As an On-Going Concern
- EPC Rating D
If this is an investment you may be interested in then check out the current market conditions in Hyde Park using your Redbrick Properties Landlord Dashboard, which includes - peak seasonal months for lettings, average rents in the local area, which size properties are in high demand, and more.
If you would like some more information on the current state of the rental market in Leeds, please feel free to pop in for a coffee and a chat, now that restrictions are easing. Or, drop Joy Gray a message here as she would love to talk to you about anything property.
Disclaimer - The information displayed about this property comprises a property advertisement. Redbrick Properties (Leeds) Ltd makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. The above does not constitute property particulars. The information is provided and maintained by Castlehill, Headingley. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.