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Epic Freehold 15 Bed HMO & 3x 2-Bed Flats

Thornton Road, Morecambe, LA4
Asking Price
£TBC
Gross Yield
TBC%
12
13
24
Download Brochure
interior-1

Overview

InvestmentTBC
Gross£57.7K/9.7%
Net£47.3K/8%
RegionNorth West
TenantProfessional
SPV HeldN/A
ManagementOnline Agent
TenancyMulti Tenancy (AST)
LicenseYes
Bedrooms12
Bathrooms13
Occupants24

Description

This is a truly incredible investment opportunity, this property consists of 10 double ensuite rooms, 2 doubles, 2 single ensiute rooms, 1 single and 3 two bed flats. This is a unique opportunity to buy a fully tenanted, cash flowing property that is currently achieving £84,396 rental per year.

The current landlord has put together a brochure explaining how to increase the annual income to £95k without further expenditure!

This is the perfect opportunity for experienced investors and new investors, the landlord is happy to do a full handover with the incoming buyer, even offering zoom calls to ensure a smooth transition to the new owner.

Highlights

Fully Tenanted

Financials

MonthlyAnnual
Gross Rent£4,808£57,696
Utilities£160£1,920
Management£703£8,440
Net Rent£3,945£47,336

Mortgage

Estimate mortgage costs with a few assumptions (LTV, rate, term). Rates and LTV vary by lender.

Payment
Rate
70%
5.5%
25y
Loan
£416,500
Deposit
£178,500
Monthly Payment
£2,558
Repayment
Est. Rent / mo
£4,808

This is for illustrative purposes only. Always obtain professional & qualified advice for HMO mortgages. For more information on HMO mortgages click here.

Property

Property TypeHouse
Sub TypeDetached
TenureFreehold
ConstructionBrick & Tile
ConditionGood
HeatingGas Central Heating
Double GlazingPart
No Storeys5
GarageNone
GardenNone
ParkingOff-Road
No Parking spaces3
Listed BuildingNo
Current EPC RatingN/A
Potential EPC RatingN/A
Sq FtN/A

Management

HMO Management TypeOnline Agent
Monthly Management£703
Management Rate10%

Management Notes

HMO Management for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Management click here.

Rentals

Tenant typeProfessional
Tenancy TypeMulti Tenancy (AST)
12 Month Occupancy100
OccupancyVacant
No of Units12
No of Occupants24
TypeOcc.StatusAmount
1. Single Room / EnsuiteN/A£346
2. Double Room / EnsuiteN/A£368
3. Double Room / EnsuiteN/A£395
4. Double Room / EnsuiteN/A£385
5. Double Room / EnsuiteN/A£412
6. 2 Bed FlatN/A£435
7. Single RoomN/A£347
8. Double RoomN/A£338
9. Double RoomN/A£385
10. 2 Bed FlatN/A£495
11. 2 Bed FlatN/A£425
12. Double Room / EnsuiteN/A£477
Total£4,808

Operating Costs

GasN/A
WaterN/A
WifiN/A
ElectricN/A
Cleaner£60
TV licenseN/A
Insurance£100
Council TaxN/A
Total£160

HMO Utilities for incoming buyers is not mandatory, but recommended. For more information surrounding HMO Utilities click here.

HMO Licensing

HMO License RequiredYes
HMO License TypeN/A
HMO License in PlaceYes
HMO License Expiry2021-04-20
HMO Licensing Cost£1000
No of Persons24
Units of Accommodation16
AuthorityMorecambe Council
Authority URLN/A
Planning Use ClassN/A

Floorplans

Floorplans will be available soon

Virtual Tour

Virtual tour will be available soon

Contact us to arrange a viewing

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Thornton Road, Morecambe, LA4· LA4 5PE

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