This traditional bay-fronted two-bedroom mid-terraced property represents an excellent ready-made investment opportunity, being offered for sale with tenants in situ and currently generating a rental income of £830 per calendar month.
The accommodation is arranged over two floors and includes two separate reception rooms, a modern fitted kitchen, ground-floor bathroom and two double bedrooms, with the principal bedroom benefiting from its own en-suite shower room. Externally, there is a low-maintenance rear yard with useful outbuilding storage, while permit parking is available to the front.
At an asking price of £135,000, the current rental income equates to £9,960 per annum, representing an attractive gross rental yield of approximately 7.38%.
LOCATION Kirkby Street is situated within the ever-popular Sincil Bank area of Lincoln, offering an excellent position close to Lincoln High Street and a wide range of everyday amenities. A Tesco Superstore is within easy reach, together with a variety of local shops, services and other conveniences.
The property is also particularly well placed for access to Lincoln city centre, with its extensive choice of shops, restaurants, bars and leisure facilities. Lincoln Central Train Station and Lincoln Bus Station are approximately a 10-minute walk away, making the location especially convenient for commuters and those relying on public transport.
With the High Street, transport connections and everyday amenities all within easy reach, the property occupies a highly convenient position that should continue to appeal to the Lincoln rental market, making it particularly well suited to investment buyers.
ENTRANCE HALL Accessed via the shared passageway, the entrance hall provides access to both reception rooms, with stairs rising to the first floor landing.
LOUNGE 10' 10" x 10' 4" (3.3m x 3.15m) A front facing reception room featuring a traditional bay window with UPVC double glazing, providing plenty of natural light, together with a radiator.
DINING ROOM 11' 9" x 10' 10" (3.58m x 3.3m) A useful second reception space with UPVC double glazed window overlooking the rear aspect and radiator. The separate lounge and dining room arrangement provides practical and flexible living accommodation.
KITCHEN 12' x 6' (3.66m x 1.83m) A modern fitted kitchen offering a range of wall-mounted cupboard and base units with complementary laminate work surfaces. Appliances and provisions include an electric oven, electric hob with extractor over, stainless steel sink with hot and cold mixer tap and spaces for a fridge/freezer and washing machine. Further benefits include tiled flooring and a UPVC double glazed window to the side aspect.
BATHROOM Ground-floor bathroom fitted with a three-piece suite comprising panelled bath with shower over, WC and wash hand basin. Further benefits include tiled splashbacks, tiled flooring, radiator, extractor and frosted UPVC double glazed window to the side aspect.
FIRST FLOOR LANDING The first floor landing provides access to both double bedrooms.
BEDROOM 1 12' 10" x 9' 6" (3.91m x 2.9m) A rear facing double bedroom with UPVC double glazed window, radiator and the additional benefit of its own en-suite shower room.
EN-SUITE Three-piece suite comprising shower cubicle, WC and wash hand basin. Further benefits include tiled splashbacks, tiled flooring and extractor.
BEDROOM 2 10' 10" x 10' 7" (3.3m x 3.23m) A further double bedroom positioned to the front of the property, benefiting from a UPVC double glazed window and radiator.
OUTSIDE The property is set behind a low-level brick wall, with permit parking available on the street.
To the rear is a low-maintenance enclosed yard with access to the shared passageway.
The yard also benefits from an outbuilding providing useful additional external storage.
INVESTMENT INFORMATION The property is being sold as a ready-made investment with tenants in situ, currently generating £830 per calendar month, equivalent to a gross annual rental income of:
£9,960 per annum. Based on the asking price of £135,000, this provides a gross rental yield of approximately 7.38%. The existing tenancy allows an incoming landlord to acquire an established rental property with income already being generated.
Prospective purchasers should satisfy themselves regarding the tenancy agreement, rental income, associated costs and investment yield prior to purchase.
