REF 4142
INVESTMENT
£335,000
GROSS YIELD
11.61%
ANNUAL RENT
£38,880
This property, located in Folkestone, is an excellent investment opportunity for professional landlords looking for a fully operational HMO (House in Multiple Occupation). The property consists of six fully let double rooms, four of which include ensuite bathrooms. The current occupancy rate is 100%, and all tenants are professionals on Assured Shorthold Tenancies (AST). The monthly gross rental income stands at £3,240, generating a net yield of approximately 7.5% after accounting for operating expenses and management fees. With low vacancy risks and a solid rental track record, this investment offers strong, consistent returns.
The property spans four storeys and is of brick and tile construction with a freehold tenure. It features six spacious double rooms, a communal kitchen, and a shared reception room, providing tenants with ample living space. The property benefits from gas central heating, full double glazing, and a rear garden, although it lacks parking facilities. Its high-quality finish and excellent condition make it an attractive option for tenants, further enhancing its rental potential.
Situated in the coastal town of Folkestone, this property benefits from a central location with access to various local amenities, including shops, restaurants, and transport links. The town is well-connected, with easy access to the M20 motorway and Folkestone Central railway station, offering convenient travel options to London and other key areas. This property is ideally positioned for tenants seeking both convenience and a pleasant living environment.
*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.
The fee charged to the buyer in addition to the purchase price.
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 -- then the balance due on completion is £335,000.
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.