Investment property, comprising 3 storey Victorian town house converted to comprise 4 bedsit rooms (1 en-suite) plus shared bathroom, kitchen and lounge, together with useful outbuildings and laundry store.
An excellent investment opportunity comprising two adjoining three storey properties to be sold either as a pair or individually. No. 5 offers similar accommodation and is available at the same price as No. 4
No. 4 comprises:
Room 1 at £70 pw
Room 1A at £60 pw
Room 2 at £68 pw
Room 3 at £85pw
Equating to a total of £283 per week or £14,756 per annum fully let (gross yield 14.05%).
The landlord has carried out considerable improvement works in Spring 2012 including complete electrical rewire, new fire alarm system, new electricity meters (up to date gas and electricity safety certificates available). New gas fired boiler to No.5, replacement guttering, fascia boards and ridge tiles and replacement double glazed sealed units where necessary.
All rooms are let on a weekly basis and all rooms have electricity meters.
The landlord currently pays council tax (£1,990.02 total for both properties) and water rates (£396.58 total for both properties). Gas bill (approximately £983 over last year) and electricity supply to communal areas (approximately £1,550 pa less meter takings of approx £950)
Outside there is a communal courtyard with brick and tiled outbuildings comprising of laundry and useful store which belong to property No. 4. There are also four storage bays one of which belongs to No. 4 and three of which belong to No. 5. The location is within easy walking distance of Kidderminster town centre and the properties are for sale either individually at a price of £95,000 for each house or £190,000 for the pair, representing an excellent investment opportunity for a "hands on" landlord.
From Kidderminster town centre leave the ringroad via Blackwell Street signposted Stourbridge A451 (next to the CMS Vauxhall dealership), continuing through the traffic lights in the Horsefair and continuing for another 200yds before turning left into Larkhill and immediately left into Queen Street where the property will be seen on your left hand side.