Overview
Description
This is a fantastic opportunity to buy a newly refurbed HMO with further potential.
The current owner has owned the property since 2015, putting £150,000 into a full refurbishment. The whole property has been upgraded to a very high standard which means no work is required for an incoming buyer.
This property comes managed by a local agent and is currently fully let with professional tenants.
Generating £31,320 per annum giving a generous 10.6% gross yield.
The property has eight bedrooms but is currently licensed for 6. With planning permission this could be increased to 8 rooms increasing your annual turnover to £41,640 with a 14.1% gross yield.
Financials
| Financials | Monthly | Annual |
|---|---|---|
| Gross Rent | £2,611 | £31,329 |
| Utilities | £7 | £88 |
| Net Rent | £2,604 | £31,241 |
Mortgage
Estimate mortgage costs with a few assumptions (LTV, rate, term). Rates and LTV vary by lender.
This is for illustrative purposes only. Always obtain professional & qualified advice for HMO mortgages. For more information on HMO mortgages click here.
Property
Management
Management Notes
HMO Management for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Management click here.
Rentals
Operating Costs
HMO Utilities for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Utilities click here.
HMO Licensing
HMO License Information
Floorplans
Floorplans will be available soon
Virtual Tour
Virtual tour will be available soon
Contact us to arrange a viewing
Map
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