We are happy to offer you this fully Tenanted HMO, in Middlesbrough.
The property has been tenanted since Sept 2019 at £648 a month. The property is leased to MEARS (who provide housing to Asylum Seekers, Sheltered Accommodation, Relocation etc) on a 5 years lease with guaranteed income. This means that MEARS are your tenant, not the sub-let tenants, so reliable monthly income without the hassle, so sit back relax and enjoy.
Property has already been fully refurbished to a very high standard too meet with Council and Mears requirements as an HMO. As they are a Housing Association, MEARS deals with all the licensing and compliance regulations for the HMO, so again, it’s another headache less to worry about. The property also includes all the furniture (see pictures attached) as is the normal with HMO’s.
The Vendor has probably put In the best part of 15k to do up and refurbish and considering that 3 bed houses I this area are selling at anywhere between 65k to 95k, a deal for this tenanted one at 75k (incl completed works and income producing from day one) is a good deal. It will also give you a 10% return, and unlike most HMO’s you don’t have to pay utility bills on top, as MEARS pay them!!
Purchase price of £75,000
Rental income £7,776
No vacant periods, no voids, no loss of income
This property is being sold Auction style, which means 10% deposit when you agree the deal, completion in 28 days, CASH purchase, and Vendor will provide either new searches or an indemnity policy, so no need to wait ages for the local authority search to come back.
Normal sourcing fees apply.
If this sounds like something that works for you, let me know ASAP as there is bound to be a lot of interest as the return is very high and secure.
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