House of Multiple Occupation for auction in Coventry

Description

A three storey HMO property offering five Letting rooms (all en-suite).

The property is well presented throughout with modern kitchen and bathrooms and tasteful decor.

Offered let with an annual income of circa £27,000 per annum inclusive.

Well placed for local transport links with strong demand from students and professionals. The property has a great letting history with full occupancy since 2018.

Five good size letting rooms all with their own en-suite shower room, large communal kitchen and enclosed rear garden.

A great investment opportunity with income from day one and a gross yield of 13% against the guide price.

Accommodation

Ground Floor
Communal Hallway, Communal Lounge/Kitchen/Living Space, Bedroom One with Ensuite.

First Floor
Landing, Bedroom Two with Ensuite, Bedroom Three with Ensuite.

Second Floor
Landing, Bedroom Four with Ensuite, Bedroom Five with Ensuite.

Outside
Gardens to front and rear.

Draft Sales Details
These sales details are awaiting vendor approval.

Note
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.

Note
Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.

Tenure

Freehold

Occupancy

Subject to a tenancy

Costs

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyers Fee of 1.2% of the purchase price (subject to a minimum of £1,500 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Addendum

The tenancy agreement is not provided in the legal pack (this has been requested) and therefore we cannot confirm the rental figure given in our marketing. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.