Summary - 7, Cable Street, LANCASTER LA1 1HD
1 bed 1 bath Commercial Property
**Standout Features:**
- Prime city center location opposite the bus station
- 8 letting bedrooms and 3 shower rooms
- Gross annual income of £48,000 from existing tenancies
- Proven strong letting history
- Currently licensed as a House in Multiple Occupation (HMO)
- Offered as part of a 4-property student portfolio for potential buyers
**Summary:**
This impressive student HMO situated in the heart of Lancaster offers a lucrative investment opportunity. With a current annual gross income of £48,000, generated from renting out 8 well-sized bedrooms at £125 per week each, this property is an ideal asset for investors targeting the student market. It features three shower rooms for shared convenience and spacious communal living areas including a lounge and fitted kitchen, designed to accommodate high-density living.
The property is easily accessible with public transport right at your doorstep, making it a favored choice among students due to its proximity to the universities and essential amenities like Sainsbury's supermarket. Although the building is in a prime location, potential buyers should note its age and condition, built before 1900 without insulation, which may require future renovations to enhance energy efficiency. The property comes with furniture and essential appliances included, providing ready-to-move-in benefits for tenants. This unique offering in a highly sought-after area promises not only strong rental yields but also the potential for future appreciation—don't miss out on viewing this substantial asset while it lasts!
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