House For Sale £550,000
This is an investment opportunity to purchase a HMO in Barking with the potential to generate £32,244 rent pa & gross yield of 5.9%.
Property information
Rental information
Running costs
The vendor provided us with the following running costs of this property:
Location information
Property information
- HMO licence for up to 7 people in 5 rooms
- Bedroom 7 comes with ensuite bathroom and a small kitchenette
- Shower room on the ground floor
- Family-size bathroom on the first floor
- Rear garden with access via the conservatory
- On-street parking with residents permit
- A new boiler was installed approximately 5 years ago
- EPC rating D
Rental information
- Tenants of rooms 4 & 5 will move to rooms 1 & 2 shortly
- Vendor is looking to redecorate and clean rooms 3,4 & 5 ready for reletting
- Following this the new rents will be:
- Room 1 & 2 - £687 pcm ? Tenants in situ since October 2018
- Room 3 - £450 pcm ? Vacant
- Room 4 - £500 pcm ? Vacant
- Room 5 - £500 pcm ? Vacant
- Room 7 - £550 pcm ? Let since October 2018
- Total rent when fully let pcm: £2,687
- Total rent when fully let pa: £32,244
Running costs
The vendor provided us with the following running costs of this property:
- Gas & electricity: £5,500 pa
- Council tax: £1,616.87 pa
- Water bill: £561.60 pa
- TV licence: £156.74 pa
- Total cost pa: £7,835.21
- Total cost pcm: £652.93
Location information
- Barking Park is a short walk from the property
- Barking Overground station and the town centre can be reached in less than 20 minutes on foot
- Upney Underground station on the District Line can be reach in approximately a 15 minute walk
