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4 Coral Street, Leicester, LE4 5BD
£500,000 OIRO
Bedrooms
Bathrooms
Reception
An outstanding opportunity to acquire a freehold multi-unit building offering immediate rental income and future growth potential, located in a popular and well-connected area. This spacious three storey property has been recently refurbished throughout, giving you a modern, low maintenance investment from day one.
The layout comprises:
- Ground Floor Two self-contained studio apartments, both currently let out to reliable tenants.- First Floor A well proportioned two bedroom flat with separate lounge, fully fitted kitchen, family bathroom, and additional W/C. Currently on the market for rent and expected to be let shortly.
- Second Floor A bright and stylish one bedroom flat with open-plan lounge/kitchen and modern bathroom. Also currently advertised for rent.
Tenants also enjoy access to a communal garden, offering a pleasant outdoor space a real plus in todays rental market.
Property Features:
- Freehold
- Recently refurbished interiors throughout
- Three-storey building with multiple self-contained units- Ground floor: 2 studio flats (both currently let) with kitchens & bathrooms
- First floor: 2 bedroom flat currently advertised for rent
- Second floor: 1 bedroom flat currently advertised for rent
- Communal garden for tenants
- Strong likelihood of full occupancy shortly after purchase
- Close to shops, transport links, and local amenities
- Great rental yields and strong tenant demand
- Ideal turnkey buy-to-let investment
Location & Amenities:
- Local Shops & Supermarkets 0.2 miles (4 mins walk) to Tesco Express, 0.5 miles to Aldi
- Public Transport 0.3 miles to local bus stops with frequent routes to the city centre, 0.6 miles to the nearest train station
- Schools 0.4 miles to St. Marys Primary School, 1.1 miles to Greenfield Secondary School
- Leisure & Parks 0.7 miles to Riverside Park, 1.5 miles to local leisure centre and swimming pool
- Dining & Entertainment 0.4 miles to a variety of cafs, restaurants, and takeaways
- City Centre Access Just 2.8 miles to the city centre with major shopping, business, and cultural amenities
Investment Potential
Opportunities like this dont come up every day. With two units already producing income, the other two actively marketed and likely to be let very soon, you could be stepping into a property thats generating full rental income almost immediately after completion.
This property offers:
- Multiple income streams from four self-contained units
- Minimal void risk thanks to strong demand for rental accommodation in the area
- Ready-to-let condition following recent refurbishments no need for costly upgrades
- Appeal to a broad tenant base including professionals, small families, and students
- Capital growth potential due to freehold status and desirable location
For a landlord, this means less time chasing tenants and contractors, and more time watching your investment grow. Its rare to find a freehold with this level of flexibility, condition, and yield potential all in one package.
Dont miss this unique freehold opportunity. Contact Ruut Homes to arrange a viewing and discuss potential rental returns in more detail.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
4 Coral Street, Leicester, LE4 5BD
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