6 bed terraced house for sale

Gresham Road, Middlesbrough TS1

Description

Exceptional 6-Bedroom HMO Near Teesside University

Location: Gresham Road, TS1 Middlesbrough,

Overview:

We are delighted to present a fantastic opportunity to acquire a well-established 6-bedroom House in Multiple Occupation (HMO) located just a stone's throw away from Teesside University. This property is ideal for investors looking for a turn-key investment with a strong rental yield.

Key Features:

Six Double Bedrooms: The property boasts six generously sized double bedrooms, ensuring ample space and comfort for tenants.

Selective License: A selective license is already in place, making this an excellent investment opportunity with compliance assured.

Fully Furnished: All rooms are fully furnished, providing a hassle-free transition for new tenants.

Ensuite Bedroom: One of the six bedrooms features an ensuite bathroom, adding value and appeal to potential renters.

Shared Facilities: The property also includes two shared shower rooms, catering to the needs of all tenants.

Current Tenancies: Five of the six bedrooms are currently tenanted, ensuring immediate cash flow for the new owner.

Investment Highlights:

Turn-Key Investment: With existing tenants and fully furnished rooms, this property is ready to generate income from day one.
5 rooms are currently tenanted on bills inclusive tenancy agreements. Rents ranging from £425 to £500 per month.

Gresham Road (estimated financial figures at asking price):
Asking Price: £165,000
Gross Rental Income: £27,000 per year, £2,250 per month
Gross Yield: 16.36%

Prime Location: Situated close to Teesside University, this HMO is perfectly positioned to attract students and young professionals seeking convenient accommodation.

Must Be Seen:

This property is a must-see for any serious investor or potential landlord. Don't miss the chance to secure this incredible
investment opportunity in a thriving area.

Viewing Arrangements:

Virtual tour is available. Please view this in the first instance. For further details or to arrange a viewing, please contact Castle Homes.

Take advantage of this rare opportunity to own a well-maintained HMO with excellent rental potential in a sought-after location. Act fast, as properties like this do not stay on the market for long!

Disclaimer: Photos as of May 2024 when property was first let.

Disclaimer - 'Grandfather rights' for selective license would need to be checked with your due diligence. The current owner has a valid HMO license for this property as a 6 bedroom HMO. License can not be transferred.

Council Tax Band: A
Tenure: Freehold

Bedroom 1 (4.30m x 2.89m)

Double bedroom, with low profile double bed and orthopaedic mattress. Study desk and chair. Wall mounted tv. Horizontal blinds.
Wardrobe storage unit. And grey carpet.

Bedroom 2 (3.85m x 2.37m)

Another double bedroom, with low profile double bed and orthopaedic mattress. Study desk and chair. Wall mounted tv. Horizontal blinds.
Wardrobe storage unit. And grey carpet.

Bedroom 3

First floor double bedroom, with low profile double bed and orthopaedic mattress. Study desk and chair. Wall mounted tv.
Shelf/storage cube.
Smaller wardrobe storage unit. And grey carpet.
Corner room. Smallest of the 6. Quirky shape.

Bedroom 4 (3.80m x 2.56m)

Standadrd shape, double bedroom, with low profile double bed and orthopaedic mattress. Study desk and chair. Wall mounted tv. Horizontal blinds.
Wardrobe storage unit. And grey carpet.

Bedroom 5 (4.74m x 3.71m)

Large double bedroom, with low profile double bed and orthopaedic mattress. Study desk and chair. Wall mounted tv. Horizontal blinds.
Wardrobe storage unit. And grey carpet.

Bedroom 6 (5.24m x 3.96m)

Attic floor double bedroom, with low profile double bed and orthopaedic mattress. Study desk and chair. Wall mounted tv. Horizontal blinds.
Built in shelves and drawers to maximise storage potential. And grey carpet. 2 opening velux windows. Restricted access in places.
Measurements include the maximum area which includes spaces that are with restricted access for storage.

En-Suite (2.91m x 0.87m)

Bedroom 6 ensuite shower room.

Bathroom (1.40m x 1.12m)

Ground floor - shower room.
Large shower enclosure with basin and storage vanity shelves.

Bathroom (1.26m x 1.55m)

Shower room with large shower cubicle, basin and WC.
Vanity shelving.

Kitchen/Lounge (4.59m x 4.28m)

Fully fitted kitchen with 2 ovens, 2 hobs, 2 sinks.
Wall and base cabinets.
Washing machine and washer/dryer.
2 fridge freezers.
Breakfast bar.
Living room area with sofa and wall mounted TV.
Boiler cabinet with gas meter.
Time o Stat GCH programmer.