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4 bedroom end of terrace house for sale
Cottesmore Road, Nottingham
£310,000
Cottesmore Road, Nottingham
£310,000
Our Summary
- The property is ready for a new investor to conduct renovations along with minor HMO works to be ready for occupancy in Summer 2024The property is available for an asking price of £320,000- £80,000 per bedroom- Income of £21,400 pa (exc bills) at previously rented figure for a 6
- Rental Uplift through Renovations
Description
This 4-bedroom student HMO property is located in the highly sought-after area of Lenton, Nottingham, and has been granted a Certificate of Existing Lawful Use (C4) for its current use. The property, which was previously a 1950s/60s end-terrace with a converted garage, has been let to four students and has a current HMO license. The property features four double bedrooms, a bathroom, separate WC, kitchen, and open-plan living and dining room, as well as a small rear garden and driveway for off-street parking. The property is being sold with vacant possession and has the potential for renovation and minor HMO works to increase its value and rental income. With an asking price of £320,000, the property offers a 6.5% yield and a reversionary income of £31,000 per annum post-renovations, making it an attractive investment opportunity for a new owner.