4 bed semi-detached house for sale

Military Road, Colchester CO1

An investment opportunity to purchase a property with a predicted gross income of £21,780 a year, yielding 8.37% being let to students, but a potential income of £27,180 if utilising the sitting room as a 5 study bedrooms subject to licensing.

Description

An excellent opportunity to purchase a well-managed investment property that has been continuously rented for over 25 years. This is part of a superb property portfolio, that is only selling due to the partners retiring. A predicted gross income of £21,780 a year, yielding 8.37% being let to students utilising 4 study bedrooms. There is the potential to change the sitting room to a fifth study bedroom, subjecting to licensing, to increase the income.

The property features accommodation spread over two floors: The ground floor includes a hall, cloakroom, kitchen, sitting room and a study bedrooms, whilst the first floor has three study bedrooms and a bathroom.

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, taking about 22 minutes or alternatively there is the Colchester Institute on Sheepen Road also in easy reach.

Hall

Stairs to first floor and cupboard housing the gas and electrics

Cloakroom

Low level wc and wash hand basin

Sitting Room (3.71m x 3.56m (12'2 x 11'8))

Window to front, sealed fireplace.

Study Bedroom One (3.56m x 3.07m (11'8 x 10'1))

Window to rear.

Kitchen (3.81m x 1.70m (12'6 x 5'7))

Window to side, door to garden, fitted units incorporating a sink unit and cupboard below, adjacent work surfaces with cupboards and drawers under. Range of eye level cupboard and gas fired boiler.

Landing (4.11m x 1.70m (13'6 x 5'7))

Study Bedroom Two (3.56m x 3.07m (11'8 x 10'1))

Window to rear

Study Bedroom Three (2.69m x 2.67m (8'10 x 8'9))

Window to front

Study Bedroom Four (3.71m 3.56m max (12'2 11'8 max))

Window to front

Bathroom (3.81m x 1.70m (12'6 x 5'7))

Window to rear. Panelled bath with shower over and screen, wash hand basin low level wc.

Outside And Gardens

To the front of the property is parking for one vehicle. There is a side access to the rear garden with a large hard landscaping to the immediate rear leading on to an enclosed lawned garden.

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 B
EPC: Band D

Potential to extend.
Available to purchase as a furnished tenanted property.