Residential investment property - immediate £20,000 pa income

A substantial town house with 5 rooms currently let to students producing a gross annual income of £20,000. The property has gas central heating and is conveniently situated only a few minutes walk from the City centre and all amenities. There is potential for 7 letting rooms (subject to satisfying the necessary permissions) which would produce a potential gross income of in excess of £28,000. Alternatively it could be used as a spacious family home with 2 reception rooms, dining kitchen, bathroom and basement room, with 6 bedrooms, a bathroom and separate W.C. to the first floor. Outside there is a rear yard with garage. The property may require some structural repair - see report in legal pack.

Tenure

See Legal Pack

Ground Floor

Entrance Hall; Front Sitting room - 15'3 x 14'; Rear Reception/Bedroom - 14' x 12'9; Dining Kitchen - 13'3 x 11'9 with range of units, oven and hob; Bathroom - 11'9 x 5'3 with shower over bath, basin and WC.

First Floor

Front Bedroom - 10'6 x 7'; Front Bedroom - 14' x 13'; Front Bedroom - 14'6 x 13'; Rear Bedroom - 11'9 x 10'3; Rear Bedroom - 10'9 x 7'6; Bathroom - 8'6 x 4'9 with bath and basin; Separate WC; Rear Bedroom - 11'3 x 8'6.

Outside

Forecourt. Rear yard and Garage with access from rear lane.

Rental terms

Rent per room - £87.00 per week to include gas, electric, water, TV License, phone line in and broadband. Term – 01/09/18 to 26/07/19 (47 weeks)

Viewing

Please telephone 01228 510552

Energy Efficiency Rating (EPC)

Current Rating D

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Local Authority

Carlisle City Council

Additional Fees

Administration Charge - £900 inc VAT payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.