Terraced house for sale in Wellesley Avenue, Hull HU6

***Guide Price £240,000 - £250,000 plus Reservation Fee***

Discover a lucrative investment opportunity with this five-bedroom House in Multiple Occupation (HMO), boasting two bathrooms and a rich historical usage predating Article Four planning restrictions. With a gross annual rent of approximately £28,000, this property offers an impressive gross yield of approximately 11.6%, making it an attractive option for savvy investors.

Prime Location: Situated in a popular student area just off Beverley High Road, this property enjoys easy access to the university and a host of amenities, making it an ideal choice for student accommodation. Its convenient location ensures high demand and consistent rental income potential.

Spacious Accommodation: Offering five generously sized bedrooms and two bathrooms, this property provides ample living space for tenants. With its functional layout and comfortable amenities, it presents an inviting living environment for students or professionals alike.

Historical Usage: With a usage history predating Article Four planning restrictions, this property offers a unique opportunity for investment, providing stability and potential for future growth.

Ideal Investment: With its impressive rental income and desirable location, this property represents an ideal investment opportunity for those looking to capitalize on the thriving rental market. Don't miss out on the chance to secure a lucrative addition to your portfolio in this sought-after area.

Schedule a Viewing: Arrange a viewing today to explore the potential of this HMO property and seize the opportunity to generate substantial rental income in a prime location.

Licensing and Planning Permission

This property falls within an Article 4 area. We have been informed by the owners they can provide rental history dating back to 2006.

The owners have provided a HMO license until October 2023 and have informed us they are in the process of obtaining a new HMO license with Hull City Council. Please note, a new owner will need to apply themselves for a new HMO license as this is not transferable.

Disclaimer

Upon acceptance of an offer, the Buyer is required to pay a non-refundable Reservation Fee of 2% to a minimum of £2500 plus VAT. The Reservation Fee is paid on top of the purchase price & deemed a part of the chargeable consideration when calculating Stamp Duty for the property.

The property has a Ready Sale Pack, which gives additional information regarding the property. It is the Buyer’s responsibility to request & examine the Ready Sale Pack before committing to purchase the property. We advise you also carry out your own due diligence prior to making an offer.

The Buyer is required to verify their id & show proof of funds.