Fab 4 Bed All Ensuite Town Centre HMO

Priest Lane HG4

REF 690

  • INVESTMENT

    £220,000

  • GROSS YIELD

    9.55%

  • ANNUAL RENT

    £21,000

AgentHMO default property
Sold
  • INVESTMENT

    £220,000

  • GROSS YIELD

    9.55%

  • ANNUAL RENT

    £21,000

  • REF

    690

DESCRIPTION

A great investment opportunity. A substantial mid terraced house renovated to a very high standard and converted to four stylish bedsits, all with private ensuite facilities and independent heating controls.

There is also a spacious communal area for use of the residents, with a modern kitchen, plus dining and living area.

Each bedsit is neutrally decorated with modern décor, plus a stylish private shower room. All the rooms feel light, airy and spacious. The bedsits are also equipped with satellite, TV and network points, plus an electric shaver point.

The bedsits occupy a handy city centre location, with shops and amenities available within a couple of minutes walk. Unrestricted on street parking is available close by, whilst the Ripon bus station is also just a short walk away, offering a comprehensive service to a number of areas, including the 36 bus route to Harrogate and Leeds.

The bedsits have provided a very high occupancy rate, at the time of listing the bedsits are at full capacity and when at capacity, they give a very generous gross yield in excess of 10%.

The conversion was carried out with no expense spared and the property has been maintained to a high standard by the current landlords.

Bedsits are in high demand and this rare investment opportunity gives an instant income.

Back to menu

Features

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

FINANCIALS

  • Investment £220,000
  • Gross Annual Rent £21,000
  • Gross Monthly Rent £1,750
  • Gross Yield 9.55%
  • Net Monthly Rent £1,304
  • Net Yield 7.11%
  • Min 25% Deposit Requirement £55,000
  • Monthly Mortgage Payment* £344
  • Monthly Cashflow £960

*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.

Back to menu

Fees

  • Buyers Fee £0

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 £220,000.

Back to menu

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 76C
  • Size 1345 ft²
  • Listed Building No
  • Kitchens 1
  • Double Ensuite 4
  • Ensuite Bathrooms 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 76C
  • Size 1345 ft²
  • Listed Building No
  • Kitchens 1
  • Double Ensuite 4
  • Ensuite Bathrooms 4
Back to menu

Photos

Back to menu

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.

Back to menu

Rental

  • Tenant Type
  • Professional
  • 12 Month Occupancy
  • 100
  • Occupancy
  • Fully Let
  • Tenancy Type
  • Multi Tenancy
  • No. of Tenants
  • 4
  • Tenant Type
  • Professional
  • Occupancy
  • Fully Let
  • 12 Month Occupancy
  • 100
  • Tenancy Type
  • Multi Tenancy
  • No. of Tenants
  • 4
  • Unit 1
  • £400
  • Let
  • Double Room / Ensuite
  • Unit 2
  • £450
  • Let
  • Double Room / Ensuite
  • Unit 3
  • £450
  • Let
  • Double Room / Ensuite
  • Unit 4
  • £450
  • Let
  • Double Room / Ensuite
  • Total £1750
Back to menu

Costs

  • Gas £95
  • Water £30
  • Wifi £45
  • Electric £95
  • Cleaner
  • TV Licence £13
  • Insurance £41
  • Council Tax £127
  • Gas £95
  • Water £30
  • Wifi £45
  • Electric £95
  • Cleaner
  • TV Licence £13
  • Insurance £41
  • Council Tax £127
  • Total £446
Back to menu

LICENSING

  • HMO License Required No
  • Planning Use Class C3
  • HMO License Required No
  • Planning Use Class C3
Back to menu

Management

  • Type Local Agent
  • Management Rate 11.5%
  • Monthly Management £201

Back to menu

FLOOR PLAN

Back to menu

LOCATION

Priest Lane, Ripon, HG4 1LL, United Kingdom

Back to menu

BROCHURE

Download the investment brochure
Back to menu
This property is now Sold. For more like it you can leave your details and we will be in touch to discuss.
REQUEST FULL DETAILS