Opportunity to purchase a HMO property in Barnsley generating £28,596 rent pa & gross yield of 13.5%

Property information

• Recently fully refurbished and renovated HMO
• Fully HMO licenced
• 6 x bedrooms
• All bedrooms come with ensuite shower room
• Shared large kitchen
• Detached garage which can be accessed via the garden
• There is a large cellar/basement that could be changed into another bedroom with the appropriate approvals
• EPC rating E
• Council tax band B

Rental information

The vendor notes that the rents are at the lower end of the market value and that there is scope for a rent review. All rents bar room 5 are paid on a weekly basis.

• Room 1 - £476.67 pcm (£110 per week)
• Room 2 - £476.67 pcm (£110 per week)
• Room 3 - £411.67 pcm (£90 per week)
• Room 4 - £476.67 pcm (£110 per week)
• Room 5 - £475 pcm (paid monthly)
• Room 6 - £498.33 pcm (£115 per week)
• Monthly rental income: £2,815
• Annual rental income: £33,780

Running costs

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

• Gas: £200 pcm
• Council tax: £133 pcm
• Electricity: £200 pcm
• Water: £57 pcm
• Broadband: £40 pcm
• Cleaning: £25 pcm
• Total cost pcm: £655
• Total cost pa: £7,860

Location information

• The property is located to the north of Barnsley town centre
• The town centre is around 06 miles from the property
• There is a bus stop with regular services a few minutes from the property
• Barnsley railway station can be reached within a 15-minute walk
• Easy access to the A61

Note

Please note that Vesta has not visited this property and that the vendor has provided all material.