Block of flats for sale

Albert Crescent, Lincoln LN1

Investment Consideration:
Gross Initial Yield: 11.26%
Rental Income: £40,545 p.a.
VAT is not applicable to this property
Comprises 6-bed HMO (4 en-suite) with communal kitchen/dining, living room and 1 communal bathroom
Situated within 15 minute walk from the University of Lincoln, a 25 minute walk from Bishop Grosseteste University and a 15 minute walk from Lincoln’s City Centre.

Property Description:
Comprises mid-terrace 6-bedroom HMO, newly refurbished to a high standard and arranged as a ground floor kitchen/dining, living room and 2 en-suite bedrooms. First floor provides 4 bedrooms (2 en-suite and 2 with shared bathroom). The property was recently renovated to a high standard in 2021 to extend the kitchen/living area to include en-suites in 4 out of 6 rooms.
Ground Floor: 75 sq m (807 sq ft)
First Floor: 42 sq m (452 sq ft)
Total gia: 117 sq m (1,259 sq ft)
HMO Licensed Property (C4 use class) Reference - 2019/0760/cle.

Tenancy:
The property is at present let to Individuals for a term of 51 Weeks from 28th August 2024 at an agreed rent of £40,545 per annum. Deposit held of £1,800.
Vendor will top up rent, so the buyer receives £40,545 p.a. From completion.

Location:
The property is located on Albert Crescent within a residential area just a 15 minute walk from Lincoln’s City Centre, 15 minute walk from the University of Lincoln, a 25 minute walk from Bishop Grosseteste University and a 30 minute walk from the County Hospital. The city’s train station is located just a 20 minute walk from the property. The station offers regular connections throughout the country, with regular services running to Newark Northgate, Edinburgh and London Kings Cross.