Incredible 6 Bed HMO

Grimsby Road Cleethorpes, DN35

REF 775

  • INVESTMENT

    £150,000

  • GROSS YIELD

    15.6%

  • ANNUAL RENT

    £23,400

AgentHMO default property
Sold
  • INVESTMENT

    £150,000

  • GROSS YIELD

    15.6%

  • ANNUAL RENT

    £23,400

  • REF

    775

DESCRIPTION

This is a fantastic opportunity for new and experienced landlords alike, this is a 6 bed HMO in good condition and is currently fully let.

The property has 5 double bedrooms, 1 single bedroom, kitchen, 2 bathrooms and a separate toilet.

Great opportunity to purchase your first HMO property with a smaller investment. There is a managing agent in place, making it a great hands off choice, and the property is currently has an impressive 15.6% gross yield!

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Features

  • Fully Tenanted
  • Fully Refurbished
  • Great Location
  • Strong Rental Demand
  • Good Transport Links
  • Shared Kitchen Dining Area
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FINANCIALS

  • Investment £150,000
  • Gross Annual Rent £23,400
  • Gross Monthly Rent £1,950
  • Gross Yield 15.6%
  • Net Monthly Rent £1,608
  • Net Yield 12.86%
  • Min 25% Deposit Requirement £37,500
  • Monthly Mortgage Payment* £234
  • Monthly Cashflow £1,374

*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 £3,000

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 £150,000.

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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 Average
  • No Parking Spaces
  • Heating Gas Central Heating
  • EPC Rating 68D
  • Size 1711 ft²
  • Listed Building No
  • Single 1
  • Kitchens 1
  • Double 5
  • Shared Bathrooms 2
  • Seperate WCs 1
  • Property Type House
  • Double Glazing Full
  • Sub Type Mid-Terrace
  • Garage None
  • Tenure Freehold
  • Garden Rear
  • Construction Brick & Tile
  • Parking On-Road
  • Condition Average
  • No Parking Spaces
  • Heating Gas Central Heating
  • EPC Rating 68D
  • Size 1711 ft²
  • Listed Building No
  • Single 1
  • Kitchens 1
  • Double 5
  • Shared Bathrooms 2
  • Seperate WCs 1
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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
  • Multi Tenancy
  • No. of Tenants
  • 6
  • Tenant Type
  • Professional
  • Occupancy
  • Fully Let
  • 12 Month Occupancy
  • Tenancy Type
  • Multi Tenancy
  • No. of Tenants
  • 6
  • Unit 1
  • £325
  • Let
  • Double Room
  • Unit 2
  • £325
  • Let
  • Double Room
  • Unit 3
  • £368
  • Let
  • Double Room
  • Unit 4
  • £325
  • Let
  • Double Room
  • Unit 5
  • £282
  • Let
  • Single Room
  • Unit 6
  • £325
  • Let
  • Double Room
  • Total £1950
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Costs

  • Gas £65
  • Water £53
  • Wifi £30
  • Electric £65
  • Cleaner
  • TV Licence £13
  • Insurance £10
  • Council Tax £106
  • Gas £65
  • Water £53
  • Wifi £30
  • Electric £65
  • Cleaner
  • TV Licence £13
  • Insurance £10
  • Council Tax £106
  • Total £342
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LICENSING

  • HMO License Required Yes
  • HMO License Expiry 2026-01-25
  • HMO License in Place Yes
  • No of Persons 6
  • Units of Accomodation 6
  • HMO License Required Yes
  • HMO License Expiry 2026-01-25
  • HMO License in Place Yes
  • No of Persons 6
  • Units of Accomodation 6
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Management

  • Type Local Agent
  • Management Rate 12.5%
  • Monthly Management £244

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FLOOR PLAN

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LOCATION

Grimsby Road, Cleethorpes, DN35 7EZ, United Kingdom

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BROCHURE

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