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Legge Street, Newcastle
Legge Street, Newcastle-Under-Lyme ST5
£199,950
Legge Street, Newcastle-Under-Lyme ST5
£199,950
Our Summary
- Scope to add value with refurbishment
- External access to downstairs cellar offering conversion potential
- While the property would benefit from some tlc to maximise its features, it presents an excellent opportunity for investors to add value through refurbishment whilst maintaining existing income
- The recently modernised bathroom demonstrates the potential throughout, and the external cellar access offers exciting possibilities for further development, subject to planning
- Investment Potential:
Description
This property is a 4-bedroom House in Multiple Occupation (HMO) in Newcastle-Under-Lyme, generating a gross annual income of £24,000 from fully tenanted rooms. The property is situated near the University Hospital of North Midlands, a major employment hub, and is within easy reach of the town centre. The property offers a value-add opportunity, with scope to add value through refurbishment and conversion of the external cellar. The recently upgraded electrics and boiler provide a solid foundation, and the modernised bathroom demonstrates the potential for further upgrades throughout the property. With a strong rental yield and enhancement potential, this property presents an attractive proposition for experienced HMO investors seeking to grow their portfolio.