Balcarres Street
Edinburgh, EH10

Description

Tenanted 3 bedroom HMO property located on Balcarres Street in the popular Morningside area of Edinburgh. This 2nd floor property is located within a traditional tenement within walking distance of Napier University and good transport links across the city. The property comprises lounge, 3 bedrooms, Kitchen, and a bathroom with electric shower. The property benefits from having gas central heating, current HMO licence, excellent Morningside location and is available with a £25K discount on the Home Report value. 

The property is being sold with the tenants in situ as a buy-to-let investment property. The property is fully HMO compliant and the tenant has been resident since 2021 providing rental income on day 1 of purchase. The current tenancy generates an annual rental income of £11,616 with the rent due to increase to £13,008pa on the 1st April. The likely rental for a new tenancy would be circa £19,200pa representing an yield of 8%. The property is sold as seen and the sale price includes all the inventory items. The Home Report value is £270K.

Morningside is a popular area in the south of the city that offers an excellent range of supermarkets, independent retailers, coffee shops, and specialty food stores. There are also numerous bars & restaurants available both in Morningside and nearby Bruntsfield. There are superb amenities within a few minutes' walk, including a library, the very popular independent Dominion Cinema & Church Hill Theatre, with a range of gyms/leisure facilities a short drive away. The flat is also well placed for lots of walks and open spaces including Bruntsfield Links, the Meadows, Blackford Hill & Pond, Hermitage of Braid, Braid Hills & Braidburn Valley Park. There is easy access both into town, via the numerous bus services, and out of town to the city bypass and the motorway network beyond.