Investment Properties for sale in Louth

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HOUSE OF MULTIPLE OCCUPANCY IN LOUTH

Louth, Lincolnshire, England

  • Price: £275,000
Seller Reference: PAX0200825955
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Business Description
 
 
 
 
 
 
 
 
 
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Seller Reference: PAX0200825955
Request Details
Business Description
HOUSE OF MULTIPLE OCCUPANCY located within the centre of the popular bustling market town of LOUTH. The house was built in the late 19th century as part of a development of high-quality housing adjacent to the Manor House.

The property has operated successfully as a HMO since 2007. Last year's income (2018/9) was £25,822 which is 97% of the current single person maximum. In a typical year, fixed expenditure (ex. major R & M) is around £11,000. Full financial details available through Crofts Estate Agents, Louth.

The licence allows for 9 persons occupying 7 rooms. There is potential for further profitability through double occupancy of two rooms, rent increases, reconfiguration, and enhanced use of the roof and garage space.

It is a substantial Victorian semi-detached property that enjoys large rooms, high ceilings and grand windows. Whilst echoes of the past remain such as the entrance hall Minton floor tiles, stained glass front door and servants’ bells, the property has been sensitively modernised and extended over the years.

There are seven private rooms, two of which have their own kitchenettes. Five rooms have access to the separate large kitchen. Shared amenities include; large bathroom/WC, a shower room/WC, and a downstairs WC and basin. Further common areas include a TV sitting room, a utility room and patio/gardens.

This elegant and peaceful home meets a proven steady demand for such accommodation and has achieved a high occupancy since its opening 12 years ago. East Lindsey District Council and local community organisations have consistently supported this much needed local facility.

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