A tenanted one-bedroom first-floor apartment well located close to Luton town ce...
*Guide Price | £70,000+ (plus fees)
A substantial freehold building, comprising nine x studio flats and a one-bedroom apartment, with a HMO licence. Located in a prime central position close the mainline station and the Arndale shopping centre with all units currently being tenanted, producing an annual income of £83,760.
A fully licensed HMO (House of Multiple Occupancy) comprising nine x generous sized en-suite studio flats over three floors and a self-contained one-bedroom basement apartment. Each studio has an living/bedroom area, en-suite shower room and kitchenette area. On the ground floor is also a fully equipped kitchen and a laundry area with the washing machines and tumble dryers being coin operated. Each studio and the basement apartment are independently metered for utilities, payable by the tenants. Each studio is furnished including a bed, bedside cabinets, a wardrobe, and a fridge-freezer.
The property was renovated and extended in 2023 and has been finished to a very high standard and produces rental income of £83,760 per annum. To the rear of the property is a privately gated parking area for several vehicles which is accessed from the street via a shared driveway adjacent to the property.
Freehold
Studio 1 is subject to an Assured Shorthold Tenancy producing £650 pcm.
Studio 2 is subject to an Assured Shorthold Tenancy producing £650 pcm.
Studio 3 is subject to an Assured Shorthold Tenancy producing £700 pcm.
Studio 4 is subject to an Assured Shorthold Tenancy producing £675 pcm.
Studio 5 is subject to an Assured Shorthold Tenancy producing £650 pcm.
Studio 6 is subject to an Assured Shorthold Tenancy producing £595 pcm.
Studio 7 is subject to an Assured Shorthold Tenancy producing £685 pcm.
Studio 8 is subject to an Assured Shorthold Tenancy producing £750 pcm.
Studio 9 is subject to an Assured Shorthold Tenancy producing £800 pcm.
Flat 50A is subject to an Assured Shorthold Tenancy producing £825 pcm.
Total monthly income: £6,980. Total annual income: £83,760.
D
VAT is not applicable
Luton Borough Council
01582 546 000
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.
There is no Buyer's Premium payable on this lot.
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Purchasers will be required to pay an administration fee of £1,500 incl. VAT
12:00pm
Delta Marriott Hotel Timbold Drive, Milton Keynes, Buckinghamshire MK7 6HL
We will be holding open-house viewings at the beginning of October. As soon as the dates and times have been set, we will let everyone know who has registered for the legal pack via e-mail, and they will also be published on our website.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Price Information
*Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. These include and are not limited to administration charges and buyer’s premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
