Rental investment property with planning permission for extension and conversion into two dwellings. Currently let until September 2017 and generating an income of £26,760 per annum equating to a yield of 4.8%. Well maintained four/five bedroom accommodation arranged over two floors with a valid HMO license.
Planning permission has been approved for the demolition of the existing side extension and the erection of a two storey side extension to form a new three bedroom end terrace house alongside what would then become a three bedroom mid terrace house. Our suggested resale figures on the new dwellings would be £450,000 - £500,000 depending on the level of finish and if the layouts were tweaked.
Old Marston Village is a vibrant community with two pubs, a library, church and a community centre as well as being in the Cherwell school catchment area. The property is within easy reach of local shops and amenities as well being conveniently located for access into the City, the Summertown shopping parade and the John Radcliffe Hospital.
Please call us to discuss the property in more detail and to book a viewing.