6 bed terraced house for sale

Cemetery Avenue, Sheffield S11

Pair of extended and remodeled Victorian terraces

Rent Breakdown (Current Academic Year)
Cemetery Avenue:
5 tenants (1 room vacant)
Rent: £430 per person per month (pppm)
Total annual rent: £25,800
27 Cemetery Avenue:
6 tenants
Rent: £476.67 pppm
Total annual rent: £34,320

Combined Total Rent for 2023/24 Academic Year: £60,120

Rent Potential (Pre-Increase):
Cemetery Avenue:
6 tenants
Rent: £115 per person per week (pppw)
Total potential annual rent: £35,880
27 Cemetery Avenue:
6 tenants
Rent: £115 pppw
Total potential annual rent: £35,880

Combined Total Potential Rent for Normal Year: £71,760

Investment Opportunity:
Rent Upside: Current rents are on the lower side due to a former agent's rental model. Expect a gross annual rent of £75,000 for the 2025/26 academic year after switching agents and modest rent increases.
Condition: The properties have been extensively refurbished (stripped back to brick, expanded, remodeled) and present well, with only minor repairs required (e.g., wet room floor).
Flexibility: Exchange by the end of October 2024, with a potential deferred completion by negotiation.
Price & Comparable Sales:

Asking Price: £320k per house or £630k for both, with a discount for exchange before the end of October 2024.
Comparable Sale: No. 31 Cemetery Avenue (similar extended 6-bed) sold for £330k recently.

Key Location Insights - Sheffield, S11:

Area: The properties are located in an Article 4 area, restricting further HMO developments-good for maintaining future rental demand.
Student Market: Sheffield is home to two major universities, ensuring a steady flow of student tenants, with demand particularly high in S11, known for its proximity to the universities and vibrant student life.
Proximity: These terraces are a stone's throw away from student amenities, making them highly desirable for group rentals. The area is well-connected to the city center and university campuses.

Viewing and Next Steps:

Viewing Notice: Can be arranged with just 24 hours' notice.
Historical Data: Available on request, including tenancy agreements, bills, and rental receipts.
Floorplans: Available On request