Renals Street Derby

£200,000 /Offers in Excess of
Property type: Semi-Detached

Description

*** HMO Investment***

* 4 Self Contained 1 bed Flats*

Current Income £19,960

 

Situated close to the City centre and Intu shopping centre is an Edwardian semi-detached house converted into four self-contained one bed flats and currently producing circa. £20,000 p.a.

The current owner has made some significant improvements to the property yet it still retains a wealth of character and charm throughout.

To the ground floor there is a communal entrance hall with two, one bedroomed flats. To the first floor there are two further one bedroomed flats.

The property occupies a popular location surrounded by similar style properties and is always a popular choice with landlords/investors.

Ground Floor:

Entrance Hall

Entrane Vestibule

Note

A combined rental income when fully let would be in region of £19,440 p.a.

•Extended semi with 4 x self-contained and separately Council taxed 1-bed flats:

Flat 1 – first floor rear – £385 pcm (could be £395) All fixtures and fittings are included in the sale – includes new small double bed and mattress; brand new white goods: undercounter fridge freezer; washer/dryer; mini oven and hob; chest of drawers; clothes rail; high quality 2-seater leather settee

Flat 2 – first floor front – £405 pcm which was reduced for a year (and a new AST issued on 21.10.20 ) to smooth the transition between the landlord paying Council Tax and it becoming the tenant’s responsibility (due a rent review to £450+ after 21.10.21) Housing benefit paid direct to landlord and he tops it up – , been there for 27 years and really looks after the place. It’s the best flat as it has a small entrance lobby with storage off, a door to a generous double bedroom leading to a small but newly fitted bathroom, and a door off the lobby into a generously sized and well laid out living/kitchen/diner. All furnishings and white goods belong to the tenant.

Flat 3 – ground floor rear – £415 pcm (potential for modest rent increase eg £425) Indications are that tenant wishes to continue tenancy. Enters into good size kitchen/living/diner, through to double bedroom then large recently refurbished bathroom. Direct access to rear garden. All fixtures and fittings are included in the sale – includes new double bed and mattress; new white goods – undercounter fridge, undercounter freezer; washing machine; dryer; oven and hob.

Flat 4 – ground floor front – £415 pcm (he is due a rent review to £425+ New AST issued when I took over in March 2019) He’s on Housing Benefit paid direct to me and he tops it up – been there 12 years – . Flat door leads to good size kitchen/living/dining with nice bay window. Small bedroom with single bed; plenty of wardrobe space. Large bathroom awaiting approved disabled -friendly bathroom to be fitted by Derby City Council (FOC). All furniture and white goods belong to the tenant.

• All electric. Electrical work done last year and a new fire alarm system installed with heater sensors in the kitchen and smoke detectors in the bedrooms. A 3-phase electrical supply installed by Western Power Distribution to ensure sufficient capacity. There is one, new, main meter in the hall; each flat has its own prepayment sub-meter so landlord can recover the cost of electricity from each tenant via online top up or card.

• Landlord pays for water – currently £417.80 per annum

• Double glazing throughout.

• Cellar

• Very large back garden accessed by all except Flat 3 (which has direct access) via locked side gate. Had it and the small front cleared last year and properly done with membrane and stone. No maintenance.

• Roof. The small, rear two-storey extension has a flat roof which was replaced last year. Roofer inspected top of bay window and said it had been recently done and is good. Chimney stack removed from the main roof and roof made good last year. Also replaced slipped tiles at rear where property adjoins neighbour.

• It’s in a good location in terms of it being easy walking distance of Derby city centre, railway station, Bombardier and a 10 minute bus journey to Derby Royal Hospital. It’s a mix of private residential and tenanted so it’s quiet and pleasant.
.
Expenses/Costs
Water – £417.80 per annum

Insurance – policy covers for Property Owner’s Liability and Loss of Rent, and Accidental Damage and Subsidence – £250.53 for 2021-2022.

Electric will need new certificates in 10 years.

Tenure
Freehold

EPC Energy rating Valid until

Flat 1, 2 Renals Street, DERBY, DE23 6SH E 3 February 2029
Flat 2, 2 Renals Street, DERBY, DE23 6SH D 3 February 2029
Flat 3, 2 Renals Street, DERBY, DE23 6SH E 3 February 2029
Flat 4, 2 Renals Street, DERBY, DE23 6SH E 3 February 2029

Viewing Details
By arrangement with the agents 01332 202029 .
Available on Thursdays and Saturdays at 2pm