1 St. Martins Terrace, Leeds LS7 4JB

Description

Rare opportunity to acquire a large, ready-made investment. The end terraced house comprises 11 bedsits, all with a master key system. Each room offers kitchen facilities and a shower, with shared bathrooms and laundry facilities. The property has a strong letting history and is generating substantial income. CCTV is included in the sale, together with large front and rear gardens and three off-street parking spaces to the rear. Relevant certifications are available within the legal pack, including the HMO licence, EICRs, gas safety checks and the fire safety certificate. Six-week completion applies.

Accommodation

Lower Ground Floor: Room 10, Room 11, storage and communal WC. Ground Floor: Rooms 1, 2 and 3. First Floor: Rooms 4, 5 and 6, laundry room, communal WC and bathroom. Second Floor: Rooms 7, 8 and 9. Externally: front and rear garden, off-street parking at rear for 3 cars.

Location

Located near Chapel Allerton, a popular suburb to the north of Leeds city centre. Next to Chapel Allerton Hospital, with shops, supermarkets and schools within walking distance. Regular bus routes outside the property provide access into Leeds.

Tenure / Property Information

Investment Analysis

The £575,000 guide equates to approximately £52,273 per bedsit, but no current valuation or rental evidence is supplied. The only sold comparables are older sales from 2004–2010 and are insufficient to establish current market value or GDV.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain the passing rent schedule, operating costs, legal-pack compliance documents and current valuation evidence before considering the property as a tenanted HMO investment.

Works Required

No capital works are evidenced. Verify the HMO licence, certifications, fire safety compliance, room condition, communal areas and tenancy documentation through the legal pack. Allow for routine maintenance only where confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR analysis is not supportable without current market value, rental income, refurbishment costs and refinance valuation evidence. The known guide-price acquisition cost plus stated admin charge and searches is £583,985 before other possible disbursements.

Buy-to-Let Analysis

BTL performance cannot be calculated because no passing rent, room rents or auctioneer rent estimate is supplied. The property is fully tenanted, but landlord-paid council tax and all operating costs must be verified before bidding.

Flip Analysis

A flip surplus cannot be calculated. Current GDV evidence, selling costs and refurbishment costs are unavailable; the supplied comparables are too historic to support a resale valuation.

Investor Risks & Due Diligence

• No passing rent or room-by-room rental schedule is supplied.

• No sufficiently specific external rental comparables or auctioneer rent estimate are available.

• The sold comparables are historic, dating from 2004 to 2010.

• Landlord-paid council tax and other operating costs will reduce net income but are not quantified.

• Additional seller costs, legal fees, transfer fees and disbursements may be payable.

• HMO licence and certification details require verification in the legal pack.

• Six-week completion applies, requiring finance and due diligence to be ready promptly.

Recommendation

Do not bid on the supplied evidence alone. Obtain the passing rent schedule, operating costs, legal-pack compliance documents and current valuation evidence before considering the property as a tenanted HMO investment.

Strategy Rating

Analysis Confidence

Property description, tenure, occupancy and some acquisition costs are supplied, but current rental income, expenses, valuation, works budget and full auction charges are missing.