House For Sale £285,000
A 6 bed 8 person HMO on Victoria Road just minutes from the centre of Wrexham.
Beechley Road is situated in a lovely residential street and this property is a substantial building that comprises of 4 individual tenants and 2 couples.
With 2 shared bathrooms, a large outdoor space, pantry, separate kitchen, and communal living area it ticks all the boxes for the massive room only with bills included market.
All the tenants are working and have been excellent and consistent in their rental payments.
Wrexham is a newly appointed City and has seen a massive investment boost due to the new Hollywood football owners, it is also home to one of Europe's largest business parks.
Since the property was renovated, including a new roof, the HMO has shown very few void periods (apart from re decoration) and is fully managed by Hazelwood Lettings in Wrexham - management and the tenants will come with the purchase for a hands off purchase.
For an HMO it is an incredible price, however it has the capabilities to be so much more due the amount of workers needing rooms and the lack of new HMOs.
There is substantial room for increased income if someone wanted to capture a higher end market.
The property is in a good condition and has been recarpeted throughout the communal areas and from an ongoing asset, does not need any money spent on the property unless the buyer wanted to, to maybe increase the rents.
The property has 6 bedrooms and 8 occupants as allowed by the licence.
EPC - C
Financials:
Property price £285,000 (first preference for cash sales like all HMOs)
Gross income is £3,270.50 per month or £39,246
Current income per month after management and letting fees = £2,831 per month or £33,972 per annum.
Management £440 per month
Other costs such as utilities £842
Net income £1989 per month or £23,868 per annum.
Net return on a cash purchase of £285,000 = 8.37%
Beechley Road is situated in a lovely residential street and this property is a substantial building that comprises of 4 individual tenants and 2 couples.
With 2 shared bathrooms, a large outdoor space, pantry, separate kitchen, and communal living area it ticks all the boxes for the massive room only with bills included market.
All the tenants are working and have been excellent and consistent in their rental payments.
Wrexham is a newly appointed City and has seen a massive investment boost due to the new Hollywood football owners, it is also home to one of Europe's largest business parks.
Since the property was renovated, including a new roof, the HMO has shown very few void periods (apart from re decoration) and is fully managed by Hazelwood Lettings in Wrexham - management and the tenants will come with the purchase for a hands off purchase.
For an HMO it is an incredible price, however it has the capabilities to be so much more due the amount of workers needing rooms and the lack of new HMOs.
There is substantial room for increased income if someone wanted to capture a higher end market.
The property is in a good condition and has been recarpeted throughout the communal areas and from an ongoing asset, does not need any money spent on the property unless the buyer wanted to, to maybe increase the rents.
The property has 6 bedrooms and 8 occupants as allowed by the licence.
EPC - C
Financials:
Property price £285,000 (first preference for cash sales like all HMOs)
Gross income is £3,270.50 per month or £39,246
Current income per month after management and letting fees = £2,831 per month or £33,972 per annum.
Management £440 per month
Other costs such as utilities £842
Net income £1989 per month or £23,868 per annum.
Net return on a cash purchase of £285,000 = 8.37%
