This fully refurbished, six-bedroom professional HMO in Ilkeston represents a robust investment opportunity, boasting a gross yield of 13.11% and a net yield of 9.18%.
Currently achieving a monthly gross rent of £3,825, the property is fully let, demonstrating 100% occupancy across six units. Each tenant benefits from Assured Shorthold Tenancies (ASTs), attracting a professional tenant profile.
With operating costs carefully managed, including a 12% management fee by a local agent, the property generates a net income (inclusive of bills) of £2,678 monthly.
HMO licensing is in place for six individuals, with compliance ensured through a mandatory licensing type.
This semi-detached, three-storey freehold property has been meticulously renovated to an excellent standard. The accommodation comprises four double en-suite rooms and two double rooms with access to a shared bathroom, maximizing tenant comfort and convenience.
Modern amenities include full double glazing, gas central heating, and high-speed Wi-Fi. The property also features a shared kitchen and dining area, fostering a sense of community among occupants.
Additional benefits include front and rear gardens, as well as off-road parking for one vehicle. Built with brick and tile construction, the property offers durability and energy efficiency, reflected in its EPC rating of 57D, with the potential to reach 80C.
Situated in Ilkeston, this property benefits from strong local amenities and excellent transport links, making it a prime location for professionals. The area offers a thriving rental demand and potential for capital growth, underpinned by its proximity to key commuter routes and local attractions.
Tenants enjoy access to a range of shops, dining options, and leisure facilities, enhancing the property’s long-term appeal. The vibrant East Midlands region further contributes to the property’s desirability as a stable and lucrative investment.
*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 £350,000.
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