House For Sale £350,000
Overview
What’s Point Of Buying The Best HMO With The Best Tenants? There’s no scope to add value and no scope to refinance. If you agree and you’re more interested in HMOs with potential, then this licensed but tired 5 bedroom terrace may be for you.
It’s fully occupied on a ‘bills included’ basis, with two double rooms renting for 450pcm and three doubles renting for 500pcm.
Realistically it’s in need of a freshen-up from top to bottom. Having done so, it may be possible to attract a higher rent, as it’s only 10 minutes walk from the hospital and even closer to the University St. Luke’s Campus. It's moments from the shops and amenities on the Fore Street and less than one mile from the city centre.
There’s currently a shared kitchen on the ground floor and a shower room and bathroom on the first floor. The top floor has a small lounge and a WC.
What it does have in its favour is that it may be possible to add en-suites to each of the rooms - they’re big enough. This would have a dramatic impact on the appeal of the rooms, the tenants you could attract and the rent you could command.
Refurb the property to a high standard and install en-suites and you could realistically add another £150 - £200 per room, per month.
Not only that, but the increase in value should allow you to refinance and pull a lot (perhaps all) of your initial investment out of the deal.
The current HMO licence expires in February 2025.
It’s not a thing of beauty but that’s half the attraction, right?
Take a walk around, look beyond the current condition you’ll be able to see the potential that’s on offer here.
Interested? Call now to arrange a viewing.
Council tax band: B
What’s Point Of Buying The Best HMO With The Best Tenants? There’s no scope to add value and no scope to refinance. If you agree and you’re more interested in HMOs with potential, then this licensed but tired 5 bedroom terrace may be for you.
It’s fully occupied on a ‘bills included’ basis, with two double rooms renting for 450pcm and three doubles renting for 500pcm.
Realistically it’s in need of a freshen-up from top to bottom. Having done so, it may be possible to attract a higher rent, as it’s only 10 minutes walk from the hospital and even closer to the University St. Luke’s Campus. It's moments from the shops and amenities on the Fore Street and less than one mile from the city centre.
There’s currently a shared kitchen on the ground floor and a shower room and bathroom on the first floor. The top floor has a small lounge and a WC.
What it does have in its favour is that it may be possible to add en-suites to each of the rooms - they’re big enough. This would have a dramatic impact on the appeal of the rooms, the tenants you could attract and the rent you could command.
Refurb the property to a high standard and install en-suites and you could realistically add another £150 - £200 per room, per month.
Not only that, but the increase in value should allow you to refinance and pull a lot (perhaps all) of your initial investment out of the deal.
The current HMO licence expires in February 2025.
It’s not a thing of beauty but that’s half the attraction, right?
Take a walk around, look beyond the current condition you’ll be able to see the potential that’s on offer here.
Interested? Call now to arrange a viewing.
Council tax band: B
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