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Residential properties for auction in Cabourne, Lincolnshire

Create Alert 2 results Sorry, we currently do not have any listings in 0 miles of Cabourne, Lincolnshire - Please find below the nearest listings available.
New
Features
Fully Licenced Six Bedroom HMO
Previously fully Occupied To Professionals
Potential Income £28,340
20.25% Gross Yield
Combination boiler
Close to local amenities
Freehold
Half a mile from the coast
Approximately 138 sqm/ 1485 sq ft (From EPC)

Location
The property is located on the western side of Legsby Avenue in the area of South Grimsby.
Nearby local amenities include Sainsburys Local along with various local independent retailers and the 23 acre Peoples Park.
The town of Grimsby is just a 10 minute walk from the property and provides a wider range of shops and amenities including a high street shopping centre, various banks and the mainline railway station providing access to other nearby towns and cities including Lincoln and Nottingham.
There is also a good road network in the nearby vicinity giving good access to the motorway.

Description
• For sale By Online Auction: 22nd – 23rd August 2018
• Guide Price: £140,000 – £160,000
• Six Bedroom HMO
• Freehold
• Previous Income £28,340

This six bedroom fully compliant HMO is entered via the front palisade garden to the main hallway. To the ground floor there are two bedrooms, a shower room with separate toilet, a communal lounge / dining area with fully fitted kitchen hosting a range of base and eye level units, integrated oven & hob and door to the rear garden that benefits from maintenance free artificial grass.
To the first floor there are a further 3 double bedrooms, a single bedroom and a family bathroom.
To the outside of the property there is unrestricted on street parking.

Accommodation
The property is 138m2 (1485 ft2) Taken from the EPC register

Services
We understand the property has mains gas, electricity, water and drainage. However, interested parties should carry out their own investigations.

Investment Analysis
The property has previously generated an income of £28,340 per annum, this represents a gross yield of 20.05 % based on the lower guide price. The tenants are all employed. Previous rentals were as follows: 2 x£100 pw, 2 x £90 pw, 1 x £85 pw, 1 x £80 pw. The landlord is responsible for all utilities, and council tax, this equates to around £3,200 pa. This would represent a net yield of 17.95%. The present landlord advises two of the tenants have been in occupation for two years, the remaining four were contract workers, however their one year contract has just finished so these rooms are now vacant, but easily re-lettable.

Council Tax
The property is rated in Council Tax Band A, approximate council tax payable per annum is £1,189.

Guide Price
£140,000 – £160,000+

Buyers Premium
2% (minimum £3,600 inc.VAT)

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58, Legsby Avenue, Grimsby, DN32 0NE
Six Bedroom Licenced HMO – Partially Let To Professional Tenants – High Yield 20.55% Gross – Potential Income £28,080
Type: House, Residential
Location: 58 Legsby Avenue, DN32 0NE
Size: 138 Sq M
Images: 14
Brochures: 1
View Property
*UNSOLD, THE LAST BID WAS £70,000. PLEASE REFER TO AUCTIONEER FOR RESERVE*

Tenure
Freehold

Location
The property is situated at the junction between High Street and Cemetery Road close to local shops and amenities. The open spaces of St. Francis Grove Playing Area are within easy reach. Transport links are provided by the nearby A46 with links to Grimsby.

Description

The property comprises a mid terrace building arranged over ground and first floors currently arranged as a ground floor shop with a self-contained flat on the first floor.

Accommodation
Ground Floor
Cafe/Shop Area

First Floor
One Bedroom Flat

Notes
Auction House London has not inspected the property. Buyers are advised to make their own enquiries.

Addendum
Please note that this property is subject to a Buyers Premium of £900 inc VAT. This is in addition to the buyer's admin fee of £900 inc VAT charged by the auctioneers.
1, Cemetery Road, Grimsby, DN37 7EP
A Vacant Commercial & Residential Building Comprising A Ground Floor Cafe with a Self-Contained One Bedroom Flat Above.
Type: Flat, General Retail, Restaurant/Cafes, Mixed Use, Restaurant/Cafes, Residential, Restaurant/Cafes, Retail, Other Property Types & Opportunities
Location: 1 Cemetery Road, DN37 7EP
Images: 1
Brochures: 1
View Property
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