Property Description

A 10-bedroom HMO located along Stourbridge Road, Dudley. Current income £36,400 per annum. The property comprises a detached two storey building set back from the Stourbridge Road. The property benefits from parking to the front and extensive gardens to the rear, along with side access. We feel there is scope for an extension to the rear to increase the accommodation to 14 units (subject to approval). The property is accessed from the front via a secure entrance door leading to a hallway and 5 separate rooms, all appearing let upon inspection. There is also a bathroom, lounge, and kitchen on the ground floor. A utility room currently used as storage and containing the boiler, it is accessible from the ground floor which could be potentially converted into a dwelling subject to planning. The first floor comprises 5 separate rooms all appearing let upon inspection along with a WC and separate bathroom. Each room has individual metering. We noted a relatively new boiler which provides hot water. Rooms have individual electric heaters. We have been advised that each room pays £70pw with all 10 appearing let upon inspection giving a gross annual income of £36,400pa. We have been advised that many of the tenants have been in occupation for several years with the vendors only selling due to their health. Interested parties are advised to inspect the legal packs for more information as to tenancies, most of which are now on a periodic tenancy. We feel there is scope to decorate and upgrade the building perhaps in stages and extend. (Subject to planning) We note current rents within the area are circa £120pw. The property is located in Dudley close to several schools, local amenities and within walking distance to the Russell Hall Hospital. There are several nearby bus links to Merry Hill Shopping centre, Wolverhampton, and Birmingham.

Note

Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.

Tenure

Freehold

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