Semi-detached house currently let as 4 rooms and communal areas

After trawling through Rightmove and Zoopla and not actually finding many great investments over the last couple of weeks I have finally come across this great investment opportunity and potential gold mine. This semi-detached house in Darwin Drive is up for sale with Bush for offers in the region of £345,000.
This particular property is an established 1930's semi detached house that is currently laid out as a house of multi occupancy, with 4 letting rooms, It benefits from double glazed windows and gas fired central heating and comprises entrance hall, bedroom, sitting room 16'5 x 11'5, kitchen, rear hall, cloakroom, first floor landing, three bedrooms and a bathroom, all of this and off street parking to the front of the property & side pedestrian access to a good size garden in excess of 80' in depth making this the perfect student let at the moment.

Now as there are no other pictures available I will take an educated guess that the inside isn't that great? so based upon that assumption I would estimate that the rooms would be letting currently for around £450pcm each giving you a rental value of £1800pcm and on that basis alone a yield of 5.2% - not bad for instant investment but what if you use your head a little?

Ok so now we look at the location - Darwin Drive is located off of Histon Road, providing convenient access to the A14, M11, and Cambridge Science Park meaning that you could also capture the interest of a group of working professionals and this is where things could become a lot more interesting; now say you offer £335,000 and it gets excepted, you then bang in a new kitchen and bathroom and give the entire property a face lift - I have seen properties like this turned round on 15K and that's providing a good quality kitchen, bathroom & decent bedroom furniture to each room too.
So now your property has cost you £350.000 but equally now you are marketing your rooms at £575 per room giving you a monthly income of £2300 increasing your yield to 7.88% and that's without considering that I mentioned earlier "the 80' Garden to the rear" - perhaps a future rear extension and a potential 3 bedrooms and a second bathroom could be considered?

What are you waiting for? check this property out here: http://www.rightmove.co.uk/property-for-sale/property-53173829.html