House for sale in Oxford, Iffley Road, OX4 : Oxford : OXF240235

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5 bedroom house, Iffley Road, Oxford OX4 - Available

Iffley Road, Oxford OX4

5 Bedroom | Freehold | 3 Baths

Asking price £900,000

Oxford 1.3 miles

Oxford Parkway 4.2 miles

James Street east 0.2 miles

An investment opportunity to acquire a three storey house converted into two, one bedroom flats and a three bedroom flat with parking in this prime city location.

DESCRIPTION
A Victorian house which has been converted into three flats, each with their own entrance. The ground floor has two, one-bedroom flats, one of which benefits from its own small area of garden. A three bedroom flat occupies the first and second floors. Unusually for properties in this location, there are three off street car park spaces to the rear.

Current rents are as follows:
95 Iffley Road - £1300
95B Iffley Road - £1300
95A Iffley Road -£1500

Total annual income = £49,200 giving a gross yield of 5.45%

There is scope to increase the rents further and to consider letting the car park spaces separately to the flats which should then generate a gross yield in excess of 6%.

LOCATION
Located just along from the famous track where Sir Roger Bannister broke the 4 minute mile and just a stone’s throw from the beautiful and historic city of Oxford; Iffley Road is a highly sought-after area to live and provides easy access to university departments, hospitals and Oxford City. Residents can enjoy the eclectic mix of restaurants, bars and shops on Cowley Road and access to cycle paths and public transport.

ADDITIONAL INFORMATION
EPC ratings: C (all flats)
Tenure: Freehold with the flats subject to assured shorthold tenancies
Local Authority: Oxford City Council
Located in the St Clements and Iffley Road conservation Area.
Council Tax Bands: 95-B, 95A- D, 95B -B
Mobile phone coverage and speeds can be checked here: checker.ofcom.org.uk, however, all providers are predicted to have good levels of service outside at the property with limited indoor on some networks
Broadband speeds can be checked here: checker.ofcom.org.uk, but indications are that ultrafast speeds are available in this location

The next steps...

Establish funds

How will you fund the purchase?

Before making an offer on a property you will want to consider your financial situation, your income and outgoings.

Will you finance the purchase of your next property from the sale of an existing property which can put you in a chain, arrange a mortgage through your bank or buy the property outright.

To help you finance your next property purchase, we have a long established relationship with an independent mortgage broker who can discuss your situation with you.

Remember that having a 'mortgage decision in principle' can make you a more attractive buyer when you make an offer on a property. Contact our mortgage advisers for free, no obligation and impartial advice.

Some advantages of a broker are:

They do all the legwork for you, working on your behalf with the lender
They compare wholesale mortgage rates from a large number of banks and lenders all at once
Their wholesale interest rates can be lower than retail (bank branch) interest rates
They offer more loan options because they work with numerous banks and lenders
They can finance tricky deals because of their knowledge and various lending partners
They are typically easier to get in contact with, and are less bureaucratic.

However advantages of working with your bank are:

You may be able to build off an existing relationship (and gain discounts if you have a checking or savings account)
You may already know the banker who will handle your mortgage
Banks may be more accountable than a smaller shop
They may offer lower interest rates in some cases
Their ability to add mortgage to existing banking profile and make automatic payments from linked account.

Making an offer

with Carter Jonas.

When you see a property you are interested in on our website, call us 24/7 to arrange a viewing. Or if you prefer, get in touch via our website and we will call you back to find a time to view the property that suits you.

Once you’ve found a property you want to buy, it’s time to make an offer. A bit of negotiation is to be expected, however don't offer so little that you end up in a lengthy negotiation process, as you might lose the property altogether if someone else makes a higher bid.

If other offers have been made on a property we aren't legally able to tell you what they are, but we may indicate if they were close to the asking price.

Need to sell a property

or thinking of letting?

If you have a property to sell, why not see how we can help you.

Or if you’re considering letting your property, we can take the stress out of managing your rental, and our award winning lettings team offer a service that can be tailored to your needs.

Combined with nearly 170 years of experience and one of the highest customer satisfaction scores in the industry, Carter Jonas is the perfect property partner.

Why not book a free, no obligation valuation of your property and find out how Carter Jonas can help you make your next move.