This is a fantastic opportunity to buy a newly refurbed HMO with further potential.
The current owner has owned the property since 2015, putting £150,000 into a full refurbishment. The whole property has been upgraded to a very high standard which means no work is required for an incoming buyer.
This property comes managed by a local agent and is currently fully let with professional tenants.
Generating £31,320 per annum giving a generous 10.6% gross yield.
The property has eight bedrooms but is currently licensed for 6. With planning permission this could be increased to 8 rooms increasing your annual turnover to £41,640 with a 14.1% gross yield.
*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 £2000 then the balance due on completion is £293,000.
North Road, Birkenhead, CH42 7JQ, United Kingdom