Semi-detached house for sale in West Parade, Lincoln LN1

Prime Investment Opportunity in Lincoln's West End

National Residential proudly presents this impressive 9-bedroom freehold period townhouse HMO property nestled in the sought-after west end area of Lincoln. Boasting an enviable location within easy walking distance to the city centre, and mere 0.8 miles from Lincoln University and 1.1 miles from Lincoln Medieval Bishops' Palace, this shared house stands as a cornerstone investment opportunity.

The property is currently configured into a 6-bedroom flat and a 3-bedroom flat, offering versatile living arrangements. The ground floor comprises a spacious dining/kitchen area, two separate shower rooms, three bedrooms, and a laundry room accessible from outside, catering to the needs of shared living.

The six-bedroom flat spans the 1st and 2nd floors, featuring a dining/kitchen area, shower room, separate WC, and three bedrooms on the 1st floor. The 2nd floor hosts an additional three bedrooms and a shower room, providing ample space and convenience for tenants.

External highlights include a large driveway to the front for off-road parking and a rear garden, enhancing the property's appeal. With no additional ground rent or service charges, this property presents an attractive opportunity for investors seeking healthy rental income.

Currently, all rooms are rented to students, generating an impressive gross yearly rental income of £49,601.88, equating to a gross monthly rent of £4,133.49. Operating expenses, including utilities, broadband, and insurance, amount to £575.13 per month. After factoring in the 10% monthly management agent fees, the monthly net income stands at £3,145.

Priced at £535,000, this property offers a remarkable gross rental yield of 9.27% and a net yield of 7.05%.

Strategically positioned for easy access to the town centre, university, transport links, and supermarkets, the property holds significant appeal for potential tenants.

This HMO property is a must-see investment opportunity! With exceptional potential and fantastic rental yields, this property won't stay on the market for long. Secure your viewing now!

This property is only available for purchasers who are not in a chain.

1. Money laundering regulations - Intending purchasers will be asked to produce identification documentation at a later stage so an online Anti-Money Laundering Check can be completed. We would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3: Any measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: National Residential has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyer's interests to check the working condition of any appliances.

*By making an enquiry on this property you acknowledge that this property is strictly offers in excess of the marketing price provided. The market appraisal of this property has indicated a value in excess of our marketing price. As a consequence, and similar to any other vendor, the vendor is aiming to achieve as much as possible in excess of this marketing price provided.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. Although the vendor may be willing to remove from the auction early for a suitable offer. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately but grant 56 days to exchange and complete. This additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a deposit of 2% (minimum of £5,000) or a Buyers fee (amount or % will be stated in main advert., which secures the transaction and takes the property off the market. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction and can be viewed in full on our website.