Meddon Street, Bideford
Property Features
- 6 Bedroom Licencensed HMO
- Ideal Buy To Let Investment
- Fully licensed and occupied
- Annual Income circa £28,000
- Yield at 15% approx.
Property Summary
**BY ONLINE AUCTION - (If not Sold Before!)** A superb investment with potential annual income of just under £28,000 per annum giving a gross yield of up to 15%. A fully licensed 6 bedroom investment property with self-contained ground floor bedsit and 5 additional letting rooms with shower room. In need of some updating.
Full Details
**BY ONLINE AUCTION - (If not Sold Before!)** A fully licensed 6 bedroom investment property with self-contained ground floor bedsit and 5 additional letting rooms with shower room and two WC's plus off road parking and large kitchen dining room. Although in need of some updating it is a superb investment with potential annual income of just under £28,000 per annum giving a gross yield of up to 15%.
Entrance Hall - With stairs to first floor and storage cupboard, wall mounted control panel for integrated alarm system. Kitchen Dining Room 14' 2" x 10' 8" (4.32m x 3.25m) Double glazed window to front, fitted wall and base units with roll top work surface over, fitted stainless steel sink and drainer, space for multiple appliances.
Self Contained Studio 16' 4" x 14' 1" (4.98m x 4.29m) plus Kitchen area 8' 8" x 5' 1" (2.64m x 1.55m) - A spacious ground floor self contained studio with fitted kitchen, large bed sitting room with double glazed window to rear and fitted shower room, housing main gas boiler, with WC and wash basin.
Room 1 11' 8" x 11' 5" (3.56m x 3.48m) - With double glazed window to front and pedestal wash basin . Radiator and fitted carpet.
Room 2 11' 8" x 11' 5" (3.56m x 3.48m) - With double glazed window to rear, pedestal wash basin and built in cupboards. Radiator and fitted carpet.
Room 3 9' 1" x 8' 11" (2.77m x 2.72m) - With double glazed window to rear, pedestal wash basin and built in cupboard. Radiator and fitted carpet.
Room 4 11' 10" x 10' (3.61m x 3.05m) - With double glazed window to rear, pedestal wash basin and built in wardrobe. Radiator and fitted carpet.
Room 5 11' 9" x 9' 11" (3.58m x 3.02m) - With double glazed window to front, pedestal wash basin and built in wardrobe. Radiator and fitted carpet.
Shower Room - With double glazed window to the front, double shower cubicle, WC, pedestal wash basin and cupboard.
WC - With WC and washbasin
Outside - To the front of the property is an enclosed walled courtyard area and to the rear, through the archway, is an off road parking area.
Agents Notes - The property is liable to licencing requirements for Houses in Multiple Occupation (HMO) with the local authority. There is an element of flying freehold.
Currently fully licenced.
Council Tax band A for main house and flat.
All tenants on Assured Shorthold Tenancies
MORTGAGE ADVICE - Specific Buy to Let mortgage advice tailored to this property (Flying freehold) can be provided by speaking to John Hutchings at Tuckers Financial. Please contact us to arrange a chat.
METHOD OF SALE
This property is for sale by conditional online auction, powered by Bamboo Auctions
The property is being offered for sale via a Modern Online Auction. Once registered and authorised, buyers are invited to place bids over the starting bid price. An undisclosed Reserve price is set by the seller and the property will not sell below this reserve figure.
At the end of the auction, the highest bidder will enter into a reservation contract and proceed to exchange contracts within 20 working days (unless otherwise agreed with the seller)
The Reservation fee is 2% (plus VAT) of the purchase price (subject to a minimum of £5000 plus VAT). An Auction legal pack including the Reservation Contract is available to all registered buyers.