Lambert Street, Hull, HU5
![Realm 47, Hull](https://media.rightmove.co.uk/268k/267593/branch_logo_267593_0000.jpeg)
- PROPERTY TYPE
House of Multiple Occupation
- BEDROOMS
6
- BATHROOMS
2
- SIZE
1,475 sq ft
137 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Investment Opportunity
- 6 Bedroom, 2 Bathroom Mid-Terraced Property
- Gross Yield 11.7% / 12.3% (Exc. utility bills)
- Within Close Proximity to the University
- Furnished & Tenanted Until August 2024
- Ability to Increase Returns Through Refurbishment
- RENT: £1,514.67 pcm (Exc utility bills)
- POTENTIAL RENT: £1,846 (Exc utility bills)
Description
ABILITY TO INCREASE THE RETURNS THROUGH REFURBISHMENT.
A successful long standing HMO; the six bedroom, two bathroom house is located on a mostly residential street that runs between Newland Avenue and Beverley Road, both of which are full of amenities from small independent shops and cafes through to larger stores and even a swimming pool. To the top of Newland Avenue is Cottingham Road where the University of Hull is located (very convenient for student tenants). The property's spacious and versatile accommodation will appeal to any demographic of tenant, while it is currently let to professional tenants, in the future it could be let to student tenants given the close proximity to the University.
The property is tastefully decorated but would benefit from a programme of refurbishment.
The property is fully double glazed, including the front and back door and is heated by an 'Ideal' gas boiler.
The shared accommodation comprises entrance hallway, spacious living room with blue feature wall, herringbone flooring, stylish sofas and wall mounted TV - the centre piece for any social houseshare.
Passing through to the rear of the property the kitchen / dining room is of a generous size. The property would benefit from a new kitchen and appliances. The cost of this has been factored into the works costs and more information can be found further down the brochure.
Beyond the kitchen is the first of the two shower rooms consisting of corner shower cubicle with mixer shower and rainwater shower head, basin with vanity unit below, mixer tap, mirrored wall cabinet above and designer radiator.
Back off the main entrance hallway in what was originally the second reception room is a spacious double bedroom.
To the first floor there is a bathroom with shower over bath and four double bedrooms. The bathroom would benefit from being refurbished to improve the shared facilities. The cost of this has been factored into the works costs. The sixth and final bedroom is located no the second floor in the roof space with sloping ceilings to the front and back but as it takes up the whole floor it is a spacious room and benefits from a wash hand basin in the room.
There is rear access to the outside space from the kitchen/dining room. Externally the plot extends to approximately 0.053 acres and offers a front forecourt and mostly gravelled low maintenance rear garden.
The current owner holds an HMO licence for the property. We believe that due to recent changes with Hull councils HMO standards that the fire doors and their frames will require replacing, this has been included within the work costs. We have added the two bathroom doors so that the design of the doors will all match and be consistent throughout.
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 meets with current fire regulation requirements having a Grade C-A fire alarm system with call points installed, fire doors throughout and a fire blanket in the kitchen.
The property is a short walk from Princes Avenue, Newland Avenue and Beverley Road. These roads offer a range of amenities including, numerous highly rated cafes and restaurants; independent shops, Lloyds Bank, Tesco, Sainsburys and a post office.
The property is also within walking distance of the University of Hull, the excellent location means that the property has versatility allowing it to be easily switched between student and working tenants dependent on market demand and owner preference.
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.
To receive a copy of the comprehensive brochure please register on our buyers database - visit our website to complete the buyers registration form.
Buyers premium of 3% + VAT - payable in two parts:
- A non-refundable reservation fee of £1,500 plus VAT
- The balance is due upon legal completion (which is collected and paid by the buyers solicitor)
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Ask agent
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Ask agent
- GARDENA property has access to an outdoor space, which could be private or shared.
- Back garden
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Lambert Street, Hull, HU5
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Hull Station1.4 miles
- Cottingham Station2.4 miles
- New Holland Station4.3 miles
About the agent
REALM 47 Property Brokerage are Investment Specialists, with over 20 years of experience in the property industry we are here to assist investor buyers with the acquisition process or sellers throughout the sale process; acting for either party as buying agent or selling agent.
We handle a vast range of properties from existing investment properties and those with plans for development through to the less obvious properties such as those that are currently used as family homes bu
Industry affiliations
![Property Redress Scheme](https://media.rightmove.co.uk/dir/customer/industry-affiliation/property-redress-scheme_max_135x100.png)
Notes
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Visit our security centre to find out moreDisclaimer - Property reference 70LambertStreet. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Realm 47, Hull. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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