44, Lipson Road, Lipson, Plymouth

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £495,000

An exceptional investment opportunity on Lipson Road, Plymouth, this spacious and well-presented 11-bedroom HMO (House in Multiple Occupation) offers a fantastic potential return. Set over three floors, the double-fronted property features 9 generously sized double bedrooms, making it ideal for student accommodation or professional tenants.

The house benefits from 2 fully-equipped kitchens and 3 modern bathrooms, ensuring ample facilities for tenants. With a gross rental income of £5,270 per month, this property promises a solid income stream. Located just a short walk from Plymouth city centre, the property is ideally positioned for access to local amenities, transport links, and educational institutions.

Income Breakdown (Monthly):

Room 1: £475.00
Room 2: £500.00
Room 3: £410.00
Room 4: £380.00
Room 5: £430.00
Room 6: £485.00
Room 7: £450.00
Room 8: £455.00
Room 9: £435.00
Room 10: £390.00
Room 11: £430.00

Total Monthly Income: £4,840

Annual Income: £58,080

Expenditure Breakdown (Monthly):

Light/Power/Heating/Water: £520
Council Tax: £156
TV/Media/Internet/Telephone: £39
Cleaner: £72.15
Management: £696.96

Total Monthly Expenditure: £1484.11

Annual Expenditure: £17809.32

Net Annual Income: £40,280.68 (calculated as Total Income – Total Expenditure)

Gross Yield: 11.73% (calculated as Annual Income / Guide Price)

Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as ‘The Auctioneer’.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

FURTHER INFO:
Date Added: 18-09-2024
Property Status: For Sale
Available: 18-09-2024
PROPERTY FEATURES:
  • Large Garden
  • On Road Parking
  • Parking Permit
  • Investment Opportunity
  • Other

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44, Lipson Road, Lipson, Plymouth Floor Plan(s)

44, Lipson Road, Lipson, Plymouth EPC(s)