We are happy to offer you the following 4 bed tenanted HMO which is by tenanted by a well-known Housing Association.
This means a guaranteed rent for 5 years from the date of the start of Tenancy. SERCO will start offering 10yr leases from the end of 2019, so there is the option that at the end of the current 5yr lease it may be renewed for a further 10yrs
They are paying £60.00 per room per week, so an annual income of £12,480.
The property has undergone a full extensive refurbishment, to bring it up to current Council requirements and signed off by the local building control, prior to start of Tenancy. Included in the current contract, the Housing Association are responsible for all the day to day maintenance, meaning that you have a guaranteed rent with no maintenance and no vacant periods. How much more could you ask for?
Included in the sale, is all the furniture, as the Housing Association now require these types properties to be fully furnished.
The Vendor is looking for offers £135,000 but we hopefully have got the vendor to agree to a price of £125,000, giving you slightly under 10% return from day one.
This will suit a CASH buyer, but the return will sell the property alone. As with these types of properties, they generally generate a lot of interest
2 bed houses in this area sell for in excess of £100,000
Demand for these types of INVESTMENTS is high, so if this is of interest, please let us know ASAP.
Our normal Sourcing fee will apply
Just as a comparable:
31 Richard Street, sold in September for £105,000, where as this one has had work done, has a guaranteed rent of £1,040pcm (which is much higher than the local market rent of £550)
A 2 bed house on the same road has just sold for £80,000 (which is a smaller property).
4 2 1
*** TENANTED HMO ***
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