Barking, IG11 9UW | Investment Property for Sale | VES-IG11-001

Opportunity to purchase a HMO in Barking with the potential to generate £32,244 rent pa & gross yield of 5.9%

£550,000

HMO Semi-Detached House

VES-IG11-001

INITIAL INVESTMENT

£159,000

Based on

deposit: £137,500

stamp duty: £19,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£32,244

GROSS YIELD

5.9%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

5 bedrooms

3 bathrooms

0

1,747

Partially Furnished

Property information

  • HMO licence for up to 7 people in 5 rooms
  • Bedroom 7 comes with ensuite bathroom and a small kitchenette
  • Shower room on the ground floor
  • Family-size bathroom on the first floor
  • Rear garden with access via the conservatory
  • On-street parking with residents permit
  • A new boiler was installed approximately 5 years ago
  • EPC rating D

Rental information

  • Tenants of rooms 4 & 5 will move to rooms 1 & 2 shortly
  • Vendor is looking to redecorate and clean rooms 3, 4 & 5 ready for reletting
  • Following this the new rents will be:
    • Room 1 & 2 - £687 pcm – tenants in situ since October 2018
    • Room 3 - £450 pcm – vacant
    • Room 4 - £500 pcm – vacant
    • Room 5 - £500 pcm – vacant
    • Room 7 - £550 pcm – let since October 2018
    • Total rent when fully let pcm: £2,687
    • Total rent when fully let pa: £32,244

Running costs

The vendor provided us with the following running costs of this property:

  • Gas & electricity: £5,500 pa
  • Council tax: £1,616.87 pa
  • Water bill: £561.60 pa
  • TV licence: £156.74 pa
  • Total cost pa: £7,835.21
  • Total cost pcm: £652.93

Location information

  • Barking Park is a short walk from the property
  • Barking Overground station and the town centre can be reached in less than 20 minutes on foot
  • Upney Underground station on the District Line can be reach in approximately a 15 minute walk

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Barking, London

Barking is a district of East London and the administrative centre of the London Borough of Barking and Dagenham and lies around 9 miles east of Charing Cross.

Barking is just north of the A13 road connecting it to Central London, east London and Essex, whilst the A406 North Circular Road runs through the town.

Barking station is an interchange station and is served by London Underground, London Overground and National Rail main line services. Barking is in Travelcard Zone 4 and is served by the District and Hammersmith & City lines. London Overground services run between Barking and Gospel Oak. C2c trains take on average 20 minutes to Fenchurch Street and 30 minutes to Leigh-on-Sea. Other train destinations include Southend Central, Westcliff, Thorpe Bay, Basildon and Purfleet, to name a few.

London City airport lies approximately 5 miles south of the town and can easily be reached by car in 15 minutes as well as by public transport in around 40 minutes.

Barking town is being thoroughly regenerated with the council having its own regeneration company with a target of building 50,000 homes and creating 20,000 new jobs in the next 20 years. Other works created a new public square outside the town hall, an arcade next to the new library and a folly. The biggest project is the transformation of a former power station into what is known as Barking Riverside, which will include 10,800 new homes, large amounts of retail space, restaurants and bars, new schools, open spaces and public squares, a new station as well as an extension to the Barking to Gospel Oak Overground line.

The high street shops include well-known brands and chains as well as some independent shops. There is also a busy and thriving market in the centre of town each Tuesday, Thursday, Friday and Saturday. The Dagenham Sunday Market in River Road has 600 stalls and attracts many bargain hunters.

Hulse Avenue,

Barking,

Greater London,

England,

IG11 9UW

What makes us different?

Vesta’s sole purpose is to make buying and selling rental property easy for both landlords and tenants.

Benefits include:

  • Buy tenanted property
  • Huge choice for all budgets
  • View property performance data
Learn more >

Questions?

Our sales team is standing by to help.

Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

In no event will we be liable for any loss or damage, including without limitation any loss or damage arising directly or indirectly out of or in connection with the use of this website and the information contained therein.

Copyright © 2021 Vesta Global Limited. All rights reserved.