#Ref. 937
Amazing 6 Bed HMO
£295K
Investment
North Road, Birkenhead CH42
Overview
Financials
Overview
£295,000
Investment
£31.3K/11%
Gross
£24.2K/%
Net
North West
Region
Professional
Tenant
TBC
SPV Held
Local Agent
Management
Multi Tenancy (AST)
Tenancy
Yes
License
Bedrooms
7
Bathrooms
Occupants
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.
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.
Highlights
Fully Refurbished
Great Location
Strong Rental Demand
Financials
Financials
Monthly
Annual
Gross Rent
£2,610
£31,320
Utilities
£589
£7,068
Net Rent
£2,021
£24,252
Mortgage
Deposit Amount
Loan Amount
APR
Monthly Payment
Annual Payment
This is for illustrative purposes only. Always obtain professional & qualified advice for HMO mortgages.For more information on HMO mortgages click here.
Purchase
Stamp Duty
Legals
Buyers Fee
Mortgage Deposit
Total Capital Required
Disclaimer Purchase costs may vary depending on your individual circumstance. This investment example For full information always check with your solicitor. For more information click here.
Property
Property Type
House
Sub Type
Semi-Detached
Tenure
Freehold
Construction
Brick & Tile
Condition
Excellent
Heating
Gas Central Heating
Double Glazing
Full
No Storeys
4
Garage
Single
Garden
Front & Rear
Parking
No Parking spaces
4
Listed Building
No
Current EPC Rating
64D
Potential EPC Rating
81B
Size
2,185 ft2
Features
Accomodation
Kitchens
1
Kitchenettes
0
Reception Rooms
2
Shared Bathrooms
3
Ensuite Bathrooms
4
Separate WC’s
0
Rentals
Tenant type
Professional
Tenancy Type
Multi Tenancy (AST)
12 Month Occupancy
Occupancy
Fully Let
No of Units
No of Occupants
Type
Status
Amount
Total
£2,610
Costs
Type of Cost
Amount
Gas
£150
Water
£53
Electric
£100
Cleaner
£40
TV license
£13
Insurance
£48
Council Tax
£135
Total
£589
HMO Utilities for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Utilities click here.
Management
HMO Management Type
Local Agent
Management Rate
12%
Monthly Management
£313
Management Notes
HMO Management for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Management click here.
Licensing
HMO License Required
Yes
HMO License Type
HMO License in Place
Yes
HMO License Expiry
2022-07-16
HMO Licensing Cost
£680
HMO Licensing varies by local authority. For full information always check with your local authority. For more information on HMO Licensing Click Here.
Floor Plans
Floorplan of this listing is not available.
360º Virtual Tour
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Map
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