Investment Potential
This freehold property offers a robust investment opportunity as a 12-unit professional HMO (House in Multiple Occupation) situated in Chorley, PR7. Fully let with a 100% occupancy rate, it generates a gross monthly rental income of £7,185, translating to an annual rent of £86,220. Net monthly income, including operating costs and management fees, stands at £5,186.8, yielding a net return of 8.96%. The property is managed by a local agent at a 12% fee, ensuring professional oversight. Operating costs, including utilities and council tax, are well-documented, contributing to a transparent and predictable investment profile. The current marketing price is £695,000, representing a gross yield of 12.41%.
Property Features and Layout
The property spans three storeys, constructed with brick and tile, and is in excellent condition with full double glazing and gas central heating. It includes 12 self-contained studio units, each featuring ensuite bathrooms and kitchenettes, making it highly appealing to professionals. Additional communal amenities include two fully equipped kitchens. The property benefits from rear garden access and offers off-road parking for up to five vehicles, enhancing convenience for tenants. The building is fully licensed for 12 occupants under HMO regulations, with licensing in place until September 2026. Modern features such as Wi-Fi connectivity are also provided, ensuring tenant satisfaction.
Location and Local Amenities
Located in the vibrant town of Chorley, this property is ideally positioned to attract professional tenants. Chorley offers excellent transport links, including proximity to major motorways and public transport options, facilitating easy commutes. The area features a range of local amenities, including shops, restaurants, and leisure facilities, alongside good access to green spaces, adding to the quality of living for residents. This combination of convenience and lifestyle appeal enhances the property.
*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 £695,000.
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