Presenting an excellent investment opportunity, this generously sized 5-bedroom property on Monks Road offers an ideal blend of space, comfort, and convenience. Perfectly positioned in a central location, the home is just a short walk from the University of Lincoln, Lincoln College, a wealth of local amenities, and excellent transport links, making it a very attractive option for both students and professionals.
Based on 75% LTV with a 5% interest rate and taking buying costs into account (including the buyers fee) the projected cashflow for 2024 / 2025 is £465.28 per month and ROI is 7.4%. However, this is with only four of the five rooms let, once fully occupied the property will perform much better with cashflow of £733.95 and ROI of 12.8%.
Boasting 100m2 / 1,076ft2 of internal living space. The large windows throughout ensure an abundance of natural light, creating a warm and welcoming atmosphere in every room.
Upon entrance to the ground floor of this delightful property, you are immediately welcomed into a bright and inviting entrance hallway, which sets the tone for the warmth and charm found throughout the home. The spacious communal living area offers a perfect blend of comfort and functionality, with ample room to relax or entertain. Furniture and furnishings are included in the sale and the lounge also benefits from a wall mounted TV.
The fully equipped kitchen, situated to the rear of the property, comes complete with modern appliances including electric fan oven, electric ceramic hob, extraction hood, washing machine, fridge freezer and additional under counter fridge. It also offers a substantial amount of storage and countertop space, making it the perfect hub for communal cooking.
There is a UPVC double glazed back door in the rear of the hallway providing access to the garden. A convenient storage cupboard tucked under the stairs offers practical storage space, perfect for keeping everyday items neatly stowed away.
Also on the ground floor, lies the first of the five generously sized bedrooms, a peaceful retreat with plenty of space for a large bed, wardrobe, study area and personal touches.
To the first floor of the property lies four further double bedrooms each furnished with students in mind. The modern bathroom with shower over bath, is located on this floor while there is a separate WC on the ground floor providing convenience and practical living for all residents.
The property is fitted with an ‘Ideal” gas combi-boiler and is predominantly double glazed including the back door.
Externally the property extends to some 0.037 of an acre, including an attractive forecourt which is bounded by low brick wall with wrought iron railings and gate, and a good sized enclosed rear yard with two outhouses all of which is low maintenance and ideal for rental.
Located just a stone’s throw from the University of Lincoln and only a short stroll from the bustling city centre, this property is ideally positioned for those who wish to enjoy all that Lincoln has to offer. The city’s vibrant mix of shops, cafes, restaurants, and cultural landmarks, including the iconic Lincoln Castle and the majestic Lincoln Cathedral, are all within easy reach. Excellent public transport links provide quick and easy access to the wider area, making it a perfect base for commuters.
The current owner holds an HMO licence for the property and has confirmed that the property met with all of the conditions of the licence. Please note that while a HMO licence is valid for 5 years, they are not transferrable and follow the person not the property – a new licence is required upon transfer of ownership.
The property sits within an Article 4 area which prevents the conversion of C3 (residential dwellings) into C4 HMO’s without planning permission, due to the cap on new supply the demand for these properties has gone up significantly and as such the values are strong. This property was converted prior to the implementation of the A4 and the seller can provide supporting evidence.
More Information
To receive the comprehensive brochure please register on our exclusive buyers database here. If you have already registered, please contact Jamie Maguire, who will gladly email the brochure to you.
Agent: Jamie Maguire
jamie.maguire@realm47.com
01522 442442
