Cable Street, Lancaster, LA1

***INCOME PRODUCING HMO STUDENT PROPERTY*** ***8 LETTINGS BEDROOMS *** 3 BATHS*** HEART OF THE CITY CENTRE *** EXCELLENT LETTING HISTORY ***

This property has the possibility of being sold as part of a portfolio with three other properties which offer some unique advantages for potential buyers. This portfolio will appeal to investors looking to diversify their holdings and spread risk across multiple assets. It also provides an opportunity for buyers to acquire a ready-made investment portfolio with the potential for rental income or future appreciation.

The property rests within walking distance of all of the amenities Lancaster has to offer including gyms, pubs, clubs, shops, eateries, and health services.

This property is let for this 2023/2024 academic year at 8 x ?115 PPW x 48 (per person per week) offering an annual gross income of ?44,160

The property is also let for the next 2024/2025 academic year at 8 x ?125 PPW x 48 (per person per week) offering an annual gross income of ?48,000.

The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).

*This property currently has a valid HMO license in place granted by the local authority (a new owner will have to apply for their own license upon completion).

A current landlord's gas safety certificates are in place along with EICR (electrical installation condition reports).

Entrance Hallway

Door to the rear yard, stairs to the first floor.

Bedroom One

Double-glazed window to front, carpeted floor, radiator.

Bedroom Two

Double-glazed window to front, carpeted floor, radiator.

Bedroom Three

Double-glazed window to the rear, carpeted floor, radiator.

Bedroom Four

Double-glazed window to the rear, carpeted floor, radiator.

Shower Room

Shower cubicle with thermostatic shower, wash hand basin, radiator, extractor fan, vinyl floor, W.C.

First Floor

Walk-in storage cupboard housing water cylinder

Lounge/Diner

Double-glazed windows to front and side, carpeted floor, radaitor.

Shower Room

Shower cubicle with thermostatic shower, wash hand basin, radiator, extractor fan, vinyl floor, W.C.

Kitchen

Double-glazed windows to side, a range of matching wall and base units, two washing machines, a microwave, fridge/freezer, two stainless steel sinks, two four plates electric hobs and ovens with extractor fans, cupboard housing Valliant boiler, laminate floor, radiator, walk on storage cupboard housing water cylinder.

Second Floor

Access to the loft

Bedroom Five

Double-glazed window to the side, carpeted floor, radiator.

Bedroom Six

Double-glazed window to the side, carpeted floor, radiator.

Bedroom Seven

Double-glazed window to front, carpeted floor, radiator, carpeted floor, radiator.

Bedroom Eight

Double-glazed window to front, carpeted floor, radiator.

Shower Room

Double-glazed window to front, shower cubicle with thermostatic shower, wash hand basin, radiator, extractor fan, vinyl floor, W.C.

Investment Information

This property is let for this 2023/2024 academic year at 8 x ?115 PPW x 48 (per person per week) offering an annual gross income of ?44,160The property is also let for the next 2024/2025 academic year at 8 x ?125 PPW x 48 (per person per week) offering an annual gross income of ?48,000.The property is sold with furniture and white goods included in the sale with the exception of the tenant's personal belongings (such as any furniture they may have brought to the property).*This property currently has a valid HMO license in place granted by the local authority (a new owner will have to apply for their own license upon completion).A current landlord's gas safety certificates are in place along with EICR (electrical installation condition reports).

Useful Information

Tenure FreeholdCouncil Tax Band (D ) ?2258.05This property has the possibility of being sold as part of a portfolio with three other properties which offer some unique advantages for potential buyers. This portfolio will appeal to investors looking to diversify their holdings and spread risk across multiple assets. It also provides an opportunity for buyers to acquire a ready-made investment portfolio with the potential for rental income or future appreciation.