Map6 bedroom terraced house for sale
Key information
Features and description
- Off Market Opportunity
- 2 HMO's
- Potential Annual Income £71,760
Pair of extended and remodeled Victorian terraces
Rent Breakdown (Current Academic Year)
Cemetery Avenue:
5 tenants (1 room vacant)
Rent: £430 per person per month (pppm)
Total annual rent: £25,800
27 Cemetery Avenue:
6 tenants
Rent: £476.67 pppm
Total annual rent: £34,320
Combined Total Rent for 2023/24 Academic Year: £60,120
Rent Potential (Pre-Increase):
Cemetery Avenue:
6 tenants
Rent: £115 per person per week (pppw)
Total potential annual rent: £35,880
27 Cemetery Avenue:
6 tenants
Rent: £115 pppw
Total potential annual rent: £35,880
Combined Total Potential Rent for Normal Year: £71,760
Investment Opportunity:
Rent Upside: Current rents are on the lower side due to a former agent's rental model. Expect a gross annual rent of £75,000 for the 2025/26 academic year after switching agents and modest rent increases.
Condition: The properties have been extensively refurbished (stripped back to brick, expanded, remodeled) and present well, with only minor repairs required (e.g., wet room floor).
Flexibility: Exchange by the end of October 2024, with a potential deferred completion by negotiation.
Price & Comparable Sales:
Asking Price: £320k per house or £630k for both, with a discount for exchange before the end of October 2024.
Comparable Sale: No. 31 Cemetery Avenue (similar extended 6-bed) sold for £330k recently.
Key Location Insights - Sheffield, S11:
Area: The properties are located in an Article 4 area, restricting further HMO developments-good for maintaining future rental demand.
Student Market: Sheffield is home to two major universities, ensuring a steady flow of student tenants, with demand particularly high in S11, known for its proximity to the universities and vibrant student life.
Proximity: These terraces are a stone's throw away from student amenities, making them highly desirable for group rentals. The area is well-connected to the city center and university campuses.
Viewing and Next Steps:
Viewing Notice: Can be arranged with just 24 hours' notice.
Historical Data: Available on request, including tenancy agreements, bills, and rental receipts.
Floorplans: Available On request
About this agent
