The property is situated on the north side of Southolme Road in this popular residential area of Rawcliffe, on the outskirts of York city centre.
There are a range of local amenities within walking distance to the property including pubs, convenience stores, take away’s and local schools. A wider range of facilities can be accessed in York centre including supermarkets, shops, bars and restaurants.
The university of York is located just 3.5 miles south of the property and can be easily accessed by a wide range of transport links making this an ideal HMO student let or family home.
Well positioned for the A1237 and the A19 road links. York railway station is located just 2 miles south east of the property providing easy access up and down the country.
This traditional semi-detached property has the potential of being a seven bedroom house of multiple occupancy or as a spacious family home.
The internal accommodation comprises entrance hall, modern fitted kitchen with a range of eye level and base units. Lounge and dining room or two potential letting rooms, bathroom and additional WC to the ground floor.
The first floor gives access to five bedrooms and a family bathroom having low flush WC, wash hand basin and bath with overhead shower.
Externally the property benefits from driveway parking and a garden to the rear.
The property has gas central heating and uPVC double glazing.
Property not measured.
We understand the property has mains gas, electric, water and drainage.
We estimate if the property was fully occupied after a slight programme of refurbishment that the four large bedrooms could be let for £375 pcm and the three small bedrooms could be let for £325 pcm.
Totalling £2475 pcm (£29,700 pa) representing a gross yield of 13.5%.
With a 20% reduction on the total income per annum to account for utilities, potential void periods and management costs. This would provide a potential net income of £23,760 pa. Representing a net yield of 10.80%.
The property is rated in Council Tax Band D. Council Tax payable (2016/17) is £1200.56
To view this property, please contact John Pye Property – firstname.lastname@example.org – 0115 970 6060
24 Southolme Drive
✓ Semi detached house
✓ Previously used as a seven bedroom HMO
✓ Desirable residential location
✓ Some works required
✓ Potential rent of £2475 pcm (£29,700 pa)
✓ Representing a gross yield of 13.5%
✓ Driveway parking
✓ Garden to rear
✓ Close to amenities and transport links
✓ Vacant possession
Phone: 0115 970 6060
Our Ref: PR256