£355000 Farndale Avenue, York

Summary

Opportunity – successful student investment property let for the academic year 2021/22 to a group of 4 paying a collective £450 per week. If you are looking for a minimum gross yield of 6.6%, at least £23,400 gross income each year, you will want to view this well presented and maintained student property set on a corner plot in this very popular location for the University.

Full Description

Current Tenancy Details

Let agreed to a group of 4 students for 2021/22 paying £450 per week on a furnished basis and including bills.
Generating a gross annual income in the region of £23,400
6.6% gross yield at asking price of £355,000
Managed by current owners
5 Year Electrical Installation Condition Report carried out in 2020
Let as HMO prior to 2012

Location

Ideal location for students being just 1.3 mile to the University of York Campus West and 0.7 mile to Campus East & York Sport Village. Also just a short distance away you’ll find the David Lloyd Leisure Club, a pub, supermarket. and bus stop for travel into the city centre.

Entrance

UPVC entrance door.

Hall

UPVC window. Radiator. Stairs to first floor.

Communal Lounge

3.58m x 3.94m

UPVC double door to garden with UPVC sidelights. Fireplace. Radiator.

Kitchen

1.98m x 2.84m

Fitted in 2017 with a range of wall and base units. Inset sink unit. Integrated fridge and freezer. Gas hob with extractor hood over. Built-in oven. UPVC window. Radiator.

Integral Garage

2.79m x 6.05m

Plumbing for washing machine. Sink. UPVC window. Pedestrian door to rear. Up and over garage door to front. Boiler.

Ground Floor Bedroom 1

3.58m x 3.61m min

UPVC bay window. Radiator.

First Floor Landing

UPVC window.

Bedroom 2

2.62m x 4.29m into bay

UPVC bay window. Radiator. Fitted wardrobes.

Bedroom 3

3.00m x 3.94m

UPVC window. Radiator. Fitted wardrobes.

Bedroom 4

2.39m max x 2.67m max

UPVC window. Radiator. Built-in cupboard.

Bathroom

1.98m x 1.70m

Fitted with bath with shower over and sink with vanity unit below. UPVC opaque window. Heated towel rail.

Outside

To the front of the property is a block paved driveway proving off street parking for up to 4 cars.
To the rear of the property is an enclosed garden mainly laid to lawn.

Key Features


  • Investment Opportunity
  • Let for 2021/22 Academic Year
  • Group of 4 students paying £450 per week
  • Rent inclusive of bills
  • Gross annual income @£23,400
  • Potential minimum gross yield 6.6%
  • Managed by current owners
  • No forward chain
  • Let as HMO prior to 2012