>
7 bedroom house of multiple occupation for sale
West Parade, Lincoln, LN1
£350,000
West Parade, Lincoln, LN1
£350,000
Our Summary
- We are pleased to present an outstanding investment opportunity on West Parade, Lincoln, one of the city's most desirable and sought-after locations
- Offering both stability and growth potential, this well-maintained Sui Generis HMO represents a high-yielding asset with strong returns and the opportunity to add further value through partial refurbishment
- The property requires some minor works to achieve full compliance with HMO fire safety regulations (see slide 10)
- Additionally, we have checked the Council planning portal, and the required planning permission for the change of use to Sui Generis was granted in 2017
- West Parade offers excellent returns and immediate rental yield - an unmissable investment opportunity
- Book a viewing today to discover the full potential of West Parade - offering strong cashflow and yields in a city renowned for its rich history and stunning architecture
- Excellent HMO Investment Opportunity
- Potential To Add Value With An Additional Bedroom
Description
This property is a unique investment opportunity on West Parade, Lincoln, offering a high-yielding asset with strong returns and potential for growth. The well-maintained Sui Generis HMO features 7 generously-sized bedrooms, each with comfortable and private living space, making it an attractive option for students and working professionals. The property has a projected cashflow of £1,257.50 per month, a yield of 12.6%, and an ROI of 11.6%, presenting a strong investment proposition. The property combines timeless character with modern appeal, with a bright vestibule, hallway, living room, and kitchen. The property requires some minor works to achieve full compliance with HMO fire safety regulations, but it is equipped with a professionally installed fire alarm system, fire doors, and a fire blanket. The property also features a downstairs bathroom, upstairs landing and hallway, and three second-floor bedrooms, all with neutral decor and fitted curtains. The outside rear garden is fully paved, offering a low-maintenance outdoor space, and there is ample space for car parking. The current owner holds a valid HMO licence, and a new licence must be obtained upon change of ownership. This property is an unmissable investment opportunity, offering excellent returns and immediate rental yield.