Mersea Road, Colchester CO2 6 bed semi

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Mersea Road, Colchester CO2 6 bed semi

Mersea Road, Colchester CO2
£295,000

Our Summary

  • An investment opportunity to purchase a property currently producing £32,0000 gross a year, yielding 10
  • Tenure: FreeholdLocal Authority: Colchester City CouncilCouncil Tax: Band BEPC: Band DLicenced HMOPotential to extend
  • Potential for further uplift
  • Potential to extend and develop to the side

Description

This is an excellent investment opportunity to purchase a well-managed property that has been continuously rented for 25 years, generating a gross income of approximately £32,000 per year from an 11-month student tenancy, resulting in a gross yield of 10.8%. The property is located near the city centre of Colchester, close to the town railway station and the University, making it an attractive option for students. The property features accommodation spread over three floors, including a kitchen, bathroom, and five study bedrooms, as well as a shower room and cloakroom. The property also has a rear garden with a covered lean-to and a large lawned garden. The property is available to purchase as a furnished tenanted property or with vacant possession, offering potential for extension.