1 bed terraced house

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1 bed terraced house

Ceylon Street, Kingston Upon Hull HU9
£75,000

Our Summary

  • The perfect, first portfolio property with an established tenancy and scope to add value
  • Although not essential, the property would benefit from some cosmetic works including painting throughout, flooring throughout (excluding the living/dining room) and replacing the front door
  • Both the kitchen and bathroom are functional, albeit dated
  • Investment Opportunity - 8% - 9

Description

This two-bedroom, mid-terrace property on Ceylon Street, HU9, is a great investment opportunity with an established tenancy and scope to add value. The property features an entrance hall, living/dining room, kitchen, and conservatory on the ground floor, with two bedrooms and a bathroom on the first floor. Although the property requires some cosmetic works, including painting, flooring, and replacing the front door, it has been well-maintained and has a functional kitchen and bathroom. The current tenant, who has been in place since July 2021, is happy to remain and has no history of arrears. The property has an estimated annual rental income of £6,000, with the current rent being £500 per calendar month and the market rent being £595 per calendar month. The estimated upfront costs include a deposit, stamp duty, and broker fees.
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