Amazing 6 Bed Fully Managed HMO

Cumberland Street Macclesfield, SK10

REF 738

  • INVESTMENT

    £350,000

  • GROSS YIELD

    10.17%

  • ANNUAL RENT

    £35,580

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Sold
  • INVESTMENT

    £350,000

  • GROSS YIELD

    10.17%

  • ANNUAL RENT

    £35,580

  • REF

    738

DESCRIPTION

This substantial and characterful Victorian house benefits from exceptionally large bedrooms, high ceilings and period features.

Room rental prices include all bills (water, electric, gas, council tax, TV licence, broadband and fortnightly cleaning of all communal areas). TV aerial ports and power sockets are installed in all bedrooms.

Exterior
There is a small, gated garden area to the front of the property. At the rear there is a spacious stone paved patio area, which is partially covered.

The ground floor comprises

Kitchen
New modern fully fitted kitchen with cream gloss units and wood-effect worktops
Washing machines
Dishwasher
5-ring range style cooker with double oven, grill, black glass splash back and extractor
American style fridge freezer
Convection microwave, standard microwave, toaster, kettle, crockery, cutlery, utensils and cookware

Lounge and dining area
With 2-seater settee, television, dining table & chairs

Basement room
With second washing machine and coin operated tumble dryer

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Features

  • Fully Tenanted
  • Fully Refurbished
  • Great Location
  • Strong Rental Demand
  • Good Transport Links
  • Fully Managed
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FINANCIALS

  • Investment £350,000
  • Gross Annual Rent £35,580
  • Gross Monthly Rent £2,965
  • Gross Yield 10.17%
  • Net Monthly Rent £2,397
  • Net Yield 8.22%
  • Min 25% Deposit Requirement £87,500
  • Monthly Mortgage Payment* £547
  • Monthly Cashflow £1,850

*Based on 75% LTV 2.5% APR. Note. Always speak to a qualified HMO mortgage broker for an accurate quote. These rates are an example of the potential % APR rates only. Visit theHMOmortgagebroker.co.uk to find out the latest HMO mortgage rates.

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Fees

  • Buyers Fee £0

The fee charged to the buyer in addition to the purchase price.

  • Reservation Deposit £2,000

The deposit amount to secure the HMO opportunity. This is fully refundable in accordance with the terms & conditions (see FAQs) and is deducted from the purchasre price upon completion. In the case of this property, the reservation deposit is £2000 then the balance due on completion is £348,000.

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Property

  • Property Type House
  • Double Glazing None
  • Sub Type Mid-Terrace
  • Garage None
  • Tenure Freehold
  • Garden Front & Rear
  • Construction Brick & Tile
  • Parking On-Road
  • Condition Good
  • No Parking Spaces
  • Heating Gas Central Heating
  • EPC Rating 56D
  • Size 1700 ft²
  • Listed Building No
  • Kitchens 1
  • Double 6
  • Reception Rooms 1
  • Shared Bathrooms 2
  • Property Type House
  • Double Glazing None
  • Sub Type Mid-Terrace
  • Garage None
  • Tenure Freehold
  • Garden Front & Rear
  • Construction Brick & Tile
  • Parking On-Road
  • Condition Good
  • No Parking Spaces
  • Heating Gas Central Heating
  • EPC Rating 56D
  • Size 1700 ft²
  • Listed Building No
  • Kitchens 1
  • Double 6
  • Reception Rooms 1
  • Shared Bathrooms 2
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Photos

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VIRTUAL TOUR

Use the most immersive way to experience a property online. Take a virtual tour.

Use the most immersive way to experience a property online. Take a virtual tour.

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Rental

  • Tenant Type
  • Professional
  • 12 Month Occupancy
  • 100%
  • Occupancy
  • Fully Let
  • Tenancy Type
  • Multi Tenancy
  • No. of Tenants
  • 6
  • Tenant Type
  • Professional
  • Occupancy
  • Fully Let
  • 12 Month Occupancy
  • 100%
  • Tenancy Type
  • Multi Tenancy
  • No. of Tenants
  • 6
  • Unit 1
  • £525
  • Let
  • Double Room
  • Unit 2
  • £495
  • Let
  • Double Room
  • Unit 3
  • £450
  • Let
  • Double Room
  • Unit 4
  • £545
  • Let
  • Double Room
  • Unit 5
  • £475
  • Let
  • Double Room
  • Unit 6
  • £475
  • Let
  • Double Room
  • Total £2965
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Costs

  • Gas £100
  • Water £65
  • Wifi £27
  • Electric £100
  • Cleaner £90
  • TV Licence £13
  • Insurance £50
  • Council Tax £123
  • Gas £100
  • Water £65
  • Wifi £27
  • Electric £100
  • Cleaner £90
  • TV Licence £13
  • Insurance £50
  • Council Tax £123
  • Total £568
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LICENSING

  • HMO License Required Yes
  • HMO License Expiry 2024-12-12
  • HMO License in Place Yes
  • No of Persons 6
  • HMO Licensing Cost £600
  • Units of Accomodation 6
  • Planning Use Class C4
  • HMO License Required Yes
  • HMO License Expiry 2024-12-12
  • HMO License in Place Yes
  • No of Persons 6
  • HMO Licensing Cost £600
  • Units of Accomodation 6
  • Planning Use Class C4
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Management

  • Type Local Agent
  • Management Rate 7%
  • Monthly Management £208

Ellis Pemberley Holmes Naden LTD

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FLOOR PLAN

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LOCATION

Cumberland Street, Macclesfield, SK10 1DD, United Kingdom

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BROCHURE

Download the investment brochure
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