House of Multiple Occupation
A previously licensed HMO property located in a residential area of Coventry. Comprising of five bedrooms, three bathrooms set over three floors and has just been leased out on a 36 month tenancy for a net monthly sum of £1,650 per calendar month which represents a Net Income of £19,800 per annum(close to a 10% net yield against the guide price).
In a great location with high level of income from an investment property. The property has been renovated and has furniture in place and it has been let out straight away. Walsgrave Hospital is close by, there are a wide range of shops, restaurants and entertainment facilities close by as well as the M6/M69 road links
FIRST FLOOR
Bedroom one 11ft 9in x 11ft 2in max
Bedroom two 11ft 7in x 7ft 7in
Bathroom
SECOND FLOOR
Bedroom three 9ft 3in x 9ft
Bedroom four 12ft 2in x 9ft 6in max
Bedroom five 9ft 6in max x 9ft 1in
Shower room
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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