Excellent 4 x En Suite (Studio) Mini HMO Property

Fairfield Street, Lincoln LN2

REF 581

  • INVESTMENT

    £190,000

  • GROSS YIELD

    10.82%

  • ANNUAL RENT

    £20,556

AgentHMO default property
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  • INVESTMENT

    £190,000

  • GROSS YIELD

    10.82%

  • ANNUAL RENT

    £20,556

  • REF

    581

DESCRIPTION

An excellent full let mini HMO property refurbished in 2019 to an excellent standard, with trusted managing agent already in place. Comprising 4 units of accommodation, this brilliant HMO property provides investors cashflow from day 1.

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Features

  • Fully Tenanted
  • Great Location
  • Strong Rental Demand
  • Capital Growth Potential
  • Good Transport Links
  • Wireless Broadband
  • Shared Kitchen Dining Area
  • HMO Compliant Fire Alarm
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FINANCIALS

  • Investment £190,000
  • Gross Annual Rent £20,556
  • Gross Monthly Rent £1,713
  • Gross Yield 10.82%
  • Net Monthly Rent £1,319
  • Net Yield 8.33%
  • Min 25% Deposit Requirement £47,500
  • Monthly Mortgage Payment* £297
  • Monthly Cashflow £1,022

*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 £1,500

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

  • Reservation Deposit --

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 £190,000.

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Property

  • Property Type House
  • Double Glazing Full
  • Sub Type Mid-Terrace
  • Garage None
  • Tenure Freehold
  • Garden Rear
  • Construction Brick & Tile
  • Parking On-Road
  • Condition Good
  • No Parking Spaces
  • Heating Gas Central Heating
  • EPC Rating
  • Size 690 ft²
  • Listed Building
  • Ensuite Bathrooms 4
  • Studio 4
  • Property Type House
  • Double Glazing Full
  • Sub Type Mid-Terrace
  • Garage None
  • Tenure Freehold
  • Garden Rear
  • Construction Brick & Tile
  • Parking On-Road
  • Condition Good
  • No Parking Spaces
  • Heating Gas Central Heating
  • EPC Rating
  • Size 690 ft²
  • Listed Building
  • Kitchenettes 4
  • Ensuite Bathrooms 4
  • Studio 4
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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
  • Occupancy
  • Fully Let
  • Tenancy Type
  • No. of Tenants
  • 4
  • Tenant Type
  • Professional
  • Occupancy
  • Fully Let
  • 12 Month Occupancy
  • Tenancy Type
  • No. of Tenants
  • 4
  • Unit 1
  • £434
  • Studio
  • Unit 2
  • £476
  • Studio
  • Unit 3
  • £435
  • Studio
  • Unit 4
  • £368
  • Studio
  • Total £1713
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Costs

  • Gas £75
  • Water £52
  • Wifi £54
  • Electric £75
  • Cleaner
  • TV Licence
  • Insurance £29
  • Council Tax £109
  • Gas £75
  • Water £52
  • Wifi £54
  • Electric £75
  • Cleaner
  • TV Licence
  • Insurance £29
  • Council Tax £109
  • Total £394
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LICENSING

  • HMO License Required No
  • HMO License Required No
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Management

  • Type Local Agent
  • Management Rate 12%
  • Monthly Management £206

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FLOOR PLAN

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LOCATION

Fairfield Street, Lincoln, LN2 5NE, United Kingdom

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BROCHURE

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Coming Soon. We are currently in the process of on boarding this HMO opportunity. See Ts & Cs.
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