8 Bedroom Terraced House Sold in Plymouth, PL4
| Reference | 39469 |
| Address |
Plymouth, PL4 8HN (Map Location) |
| Beds | 8 |
| Baths | 4 |
| Type | Terraced house |
| Tenure | Freehold |
Investment property, 400m to University. Fully let to 8 students for 2016-18 academic years. 2017-18 income = £35,144 with a 46 week lease. Potential £36,672 at same rent × 48wk.
Description
SOLD SUBJECT TO CONTRACT
An offer of £360,000 has been accepted.
Our other 8 bedroom student property at PL4 6PR has also been sold (subject to contract) at £360,000.
FULLY LET
Group 1: 8 tenants contracted until 20th July 2017.
Group 2: 8 students have signed individual contracts & paid deposits for a lease term from 1st September 2017 to 20th July 2018. These tenants are currently living together at another property, all have UK resident contract guarantors.
RENTAL INCOME
Average rent per room is £95.50 a week, this is up to 50% lower than the rate at student halls.
Payment is debited termly, it's calculated as follows: M = total rent ÷ 11. September = 5M, January = 4M, April = 2M.
Gross income for the 46 week 2017-18 leasehold is £35,144. Most landlords require longer contracts, a 48wk lease term would generate £36,672, 50wk = £38,200.
A-GRADE
The property was last inspected by Plymouth University in April 2017, it received an A grade. Competitor accommodation is mostly further from campus and inferior in quality. We've had 100% occupancy since the property was purchased in 1999.
PROPERTY FEATURES: Double glazed. New boiler, gas central heating with 2 radiators in the larger rooms. New carpets, double bed in every bedroom.
SAFETY: Commercial fire alarm & lighting system.
BATHROOMS: 4 bathrooms; 2 electric showers & 2 toilets.
KITCHEN APPLIANCES: 2 fridge/freezers, oven, 2 electric hobs, 2 microwaves, dishwasher. Washing machine & tumble dryer...
LOUNGE TV: Sky HD (2TB, sports & extra) & Chromecast.
BEDROOM TV: Wall mounted 40 inch 4K (3840x2160 pixels) smart television positioned in front of each desk. TVs receive Freeview HD & can be connected to any PC or laptop via a USB to HDMI adapter which is attached to the back of each television.
INTERNET: 200Mb, unlimited bandwidth. Cabled network, internet ports in lounge & every bedroom.
WIFI: Perfect coverage from the Virgin hub (modem mode) + an ASUS RT-AC68U router on each floor (total 4 routers). N.B. signals from standard non-AC routers are often blocked by neighbouring devices.
SMART HOME: App & voice control of; TVs, thermostat, alarm, dimmable colour changing light bulbs in each bedroom. Motion sensors control LED lights in hallways & bathrooms.
SMART TVs: High-end Samsung smart 4K TVs, smart apps include; Amazon Video, BBC Iplayer, Netflix, Youtube... Record to & play from a USB drive.
FLOOR PLANS: Are drafted as a guideline only, they are not to scale and should not be relied upon as a representation of fact. Potential buyers are advised to recheck the measurements before committing to any expense.
SERVICES: Mains gas, electricity, water and drainage.