6 bed semi-detached house for sale

Military Road, Colchester CO1

An investment opportunity to purchase a property currently producing £33,0000 gross a year, yielding 11.1% per annum gross to students, situated close to the town centre.

Description

An opportunity to purchase a well-managed investment opportunity that has consistently achieved rental income for the past 25 years. It currently generates approximately £33,000 per year from an 11 month student tenancy, resulting in a gross yield of 11.1%.

The property spans two floors and includes the following features: On the ground floor, there is a kitchen, a shower room, and three rooms whilst on the first floor there are a further four rooms and a bathroom.

This is a solid investment with a proven track record with the potential to increase the rent over 12 months.

Location

The property is conveniently located near the city centre of Colchester, where you can find a variety of shops, restaurants, and numerous amenities. It is also close to the Town railway station, which provides a fast and frequent service to London, taking approximately 46 minutes. The University is easily accessible via the bus (from Town railway station to the University, taking about 22 minutes) alternatively the Colchester Institute on Sheepen Road is in easy reach.

Entrance Hall

Stairs to first floor.

Study Bedroom One (3.73m x 2.54m (12'3 x 8'4))

Window to front, wash hand basin.

Study Bedroom Two (3.73m x 2.54m (12'3 x 8'4))

Window to front, wash hand basin.

Study Bedroom Three (3.25m x 2.74m (10'8 x 9))

Window to rear, wash hand basin.

Kitchen (4.09m x 3.73m (13'5 x 12'3))

Sliding patio doors, fitted wood units incorporating a stainless steel sink with single drainer and cupboards and drawers under and dishwasher, adjacent work tops incorporating cupboards under, free standing cooker, fridge and freezer, wall mounted gas fired boiler, fitted breakfast bar.

Shower Room (2.77m x 1.50m (9'1 x 4'11))

Window to rear, Shower cubicle, low level wc, wash hand basin.

Landing

Study Bedroom Four (3.73m x 2.54m (12'3 x 8'4))

Window to front, wash hand basin.

Study Bedroom Five (3.73m x 2.54m (12'3 x 8'4))

Window to front, wash hand basin.

Study Bedroom Six (3.73m x 2.44m (12'3 x 8))

Window to rear, wash hand basin.

Study Bedroom Room Seven (10'11 x 8'11)

Window to rear, wash hand basin.

Bathroom Room (2.77m x 1.50m (9'1 x 4'11))

Window to rear, panelled bath with shower attachment, low level wc, wash hand basin.

Outside And Gardens

To the front of the house there is parking in the front of the house as well as parking in front of the white gates that also gives access to the rear garden. The rear garden is lawned with a concrete patio to the immediate rear of the property. Beyond is a large lawn area enclosed by a wall and fencing. Garage and garden shed.

Agents Notes

Services: Mains water, electricity, gas and drainage are connected to the property and gas central heating.
Tenure: Freehold
Local Authority: Colchester City Council
Council Tax: Band C
EPC: Band D

Licenced HMO
Potential to extend.
Available to purchase as a furnished tenanted property or with vacant possession.