Summary - 16 ASHLEIGH ROAD LEICESTER LE3 0FA
9 bed 4 bath Terraced
Ready HMO near De Montfort University with strong rental yield potential.
- Nine bedrooms across three floors, configured for HMO use
- Estimated rental income ~£48,000pa (approx. 9% gross yield)
- Two kitchens, two bathrooms and two en‑suites for flexible lettings
- Freehold; Victorian character: high ceilings and bay windows
- Sold via Modern Auction — undisclosed reserve and buyer fees apply
- Non‑refundable reservation fee 4.5% (min £6,600) plus admin costs
- Located in a high‑crime, deprived area — local letting risk to consider
- Solid brick pre‑1900 walls likely lack modern insulation; refurbishment likely
A spacious nine-bedroom mid-terrace with clear HMO layout and strong rental potential. The property is arranged over three floors and already configured with two kitchens, two bathrooms and two en‑suites — a ready-made option for multiple occupancy lets close to De Montfort University and local amenities.
Estimated gross rental income of around £48,000 per year (approx. 9% gross yield) underlines the investment case. The house retains Victorian character — high ceilings, bay windows and a substantial footprint (about 2,498 sq ft) — which helps attract students and young professionals seeking roomy accommodation near Narborough Road.
Buyers must complete thorough due diligence. The sale is by Modern Auction and is subject to an undisclosed reserve price; a non‑refundable reservation fee (4.5% of purchase price, minimum £6,600 inc. VAT) and buyer’s admin fees apply. The property is in a high‑crime, deprived area and built before 1900 with solid brick walls likely lacking modern insulation, so refurbishment and safety/compliance checks (HMO licence, electrics, fire safety, gas boiler servicing) are likely needed.
For an investor comfortable with auction purchase terms and refurbishment work, this freehold terraced property offers immediate HMO potential and scope to improve income and condition. For those seeking a low‑effort purchase, note the additional costs, auction timescale and the need to verify services, licences and repair requirements before bidding.
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