Lot 3 - 8 Empress Road, Kensington, Liverpool, Merseyside, L7 8SD
- Unconditional Online Auction Sale
- Guide Price* : £155,000 plus
- Residential Investment (HMO Potential)
- Annual equivalent gross income 14,820 with scope to increase to circa £19,000
- Great location
Residential investment comprising a 3/4 Bedroom mid terrace (HMO potential*) situated in a popular location for rented accommodation currently let at an annual equivalent income of £14,820 with scope to increase
Description
The property comprises a 3/4 bedroom sold subject to 3 tenants in situ who occupy under a single AST at a monthly rent of £1235.01. One of the bedrooms is currently unoccupied so there is potential to increase the annual income to circa £19,000 in the future if all 4 bedrooms were let.
* The seller has applied for a HMO licence in May 2022,m but has yet to hear from the Council. Copies of the GSC, EICR and boiler guarantee are available for download within the Legal Pack documents.
Location
Situated in an established location for rent accommodation and popular with students. Empress Road can be accessed from Kensington and lies approximately 0.5 mile from Liverpool University, less than 0.25 mile from Royal Liverpool University Hospital and 1.25 mile from the city centre's retail core.
Tenure
Freehold.
Accommodation
Cellar: Storage
Ground Floor: Entrance Hall, Bedroom 1(or could be extra lounge), Lounge/Diner/Kitchen
First Floor: Three Bedrooms and Shower Room
Outside
Rear Yard.
Tenancies
The entire property is let on a single AST to three tenants at a monthly rent of £1235.01, with the agreement expiring on 30 June 2023.
EPC
Energy Asset Rating is D.
Council Tax Band
A
Buyers Administration Fee
There will be a Buyer's Administration Fee of £2,400 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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