East Park Parade, Leeds Guide Price £475,000

A SUBSTANTIAL DETACHED EIGHT BEDROOMED HMO INVESTMENT PROPERTY STANDING ON A PROMINENT CORNER OVERLOOKING EAST END PARK PLAYING FIELDS, CLOSE TO LOCAL AMENITIES AND WITHIN EASY REACH OF LEEDS CITY CENTRE AND ONTO THE MAJOR ROAD & MOTORWAY NETWORK.

CLICK ON VIRTUAL TOUR OR ON 'FULL DETAILS' FOR LOTS MORE INFORMATION ABOUT THE PROPERTY, THE LOCAL AREA, TRANSPORT LINKS AND SCHOOLS.

The property, formally a doctors surgery, has been converted into a very good quality and well managed eight bedroomed House in Multiple Occupation (HMO) with the relevant planning permission and is being run as a very successful residential investment, currently generating a total gross rent of £51,900 including bills. The seller believes the net rent less bills to be circa £42,500 p/a offering a very attractive yield of nearly 9% based on the asking price. (Bills include gas, water, broadband and council tax. Tenants pay their own electric based on individual sub-meter usage). The rooms are all let on individual tenancies with most now on rolling contracts.

Each bedroom is self-contained having an en-suite shower room w/c and kitchenette, with an additional lounge and kitchen for communal use. There is an extensive basement providing useful storage, but also offers potential for further development, plus a large garage to the side, again, ideal for storage but offering great potential to develop or incorporate into the main building, all subject to relevant consents.

The seller has a HMO Licence for eight occupants until 6th November 2025. There is no lettings management tie-in, allowing buyers to self-manage or appoint their preferred agent.

Internal viewing strongly recommended to fully appreciate this well managed and successful investment concern.

Tenure: Freehold

Possession: Subject to Tenancy

AML: Under UK Law, Estate agents are required to carry out Anti Money Laundering (AML) checks in line with regulations and guidance set out by HMRC. These checks include identifying the source of funds used to purchase a property and conducting identity checks on their customers. For any intending purchaser, we will require evidence of funding to support any offer and we will carry out an electronic identity check. We may also need to request photographic identification and/or proof of address.

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