House For Sale £550,000
** brilliant investment opportunity - 9.5% gross yield **
An extremely rare opportunity to purchase this detached eight bedroom, fully licensed HMO, centrally positioned in Colchester with excellent access to the Colchester Town Centre, Colchester North Station with links to London Liverpool Street within the hour. The property is offered to the market with all eight bedrooms being fully furnished with all the relevant licenses and regulations in place. The current owner has owned the property for a long period and has continued to maintain the property over the years and it benefits from a fully overhauled roof, new soffits and guttering and makes a superb investment for any prospective purchaser.
During 17 years of ownership as a licensed HMO, the owner has continuously achieved great rental returns and has retained several tenants, one of which has been a long serving tenant for over 9 years. The current gross yield is approx. 9.5% with an income of around £50,400 per annum.
The current owner has personally maintained the property over the years and is happy to carry on managing the property for the next 12 months of the new ownership, which would be very beneficial for the new owner - especially if they're unexperienced in house of multiple occupants.
The property also comes with a large frontage which provides parking, a garage for storage and also to the rear there is a detached office which comes with power and also has internet connected. There is also further storage provided by another outbuilding.
Viewings are highly advised.
An extremely rare opportunity to purchase this detached eight bedroom, fully licensed HMO, centrally positioned in Colchester with excellent access to the Colchester Town Centre, Colchester North Station with links to London Liverpool Street within the hour. The property is offered to the market with all eight bedrooms being fully furnished with all the relevant licenses and regulations in place. The current owner has owned the property for a long period and has continued to maintain the property over the years and it benefits from a fully overhauled roof, new soffits and guttering and makes a superb investment for any prospective purchaser.
During 17 years of ownership as a licensed HMO, the owner has continuously achieved great rental returns and has retained several tenants, one of which has been a long serving tenant for over 9 years. The current gross yield is approx. 9.5% with an income of around £50,400 per annum.
The current owner has personally maintained the property over the years and is happy to carry on managing the property for the next 12 months of the new ownership, which would be very beneficial for the new owner - especially if they're unexperienced in house of multiple occupants.
The property also comes with a large frontage which provides parking, a garage for storage and also to the rear there is a detached office which comes with power and also has internet connected. There is also further storage provided by another outbuilding.
Viewings are highly advised.
