Opportunity to purchase a 6-bed HMO in Birmingham generating £26,400 rent pa and a gross yield of 7.5%
£350,000
HMO Terraced House
VES-B23-001
INITIAL INVESTMENT
£108,000
Based on
deposit: £87,500
stamp duty: £18,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£26,400
GROSS YIELD
7.5%
The property
TENANCY
Tenanted
TENURE
Freehold
6 bedrooms
6 bathrooms
1 reception room
1,292
Fully Furnished
Please note that the tenancy is a fully repairing and insuring (FRI) lease generating net rent of £26,400 per annum and a net yield of 7.5%. The fully managed operating costs and net yield shown in the calculations should be ignored.
Property information
- Spread over 2 floors
- 6 self-contained units, each including:
- Living area
- En-suite shower room
- Small kitchenette with fridge-freezer, sink, hotplate and microwave
- Communal kitchen
- Communal garden
- The property is let to a housing association, who are also responsible for all bills and internal maintenance
- Monthly rental income £2,200
- Any major or structural works and building insurance are the responsibility of the owner
- EPC rating D
- Council tax band B
Note
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
We are currently awaiting the tenancy agreement from the landlord and will update the listing when received.
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 Birmingham, West Midlands.
Birmingham is the second largest city in the UK and boasts a population close to four million and is still growing rapidly. This metropolitan city can be found in the West Midlands, around 120 miles north west of London.
Due to its central location within the country, Birmingham has fantastic travel routes via the motorway, rail and even canal networks. Major motorway routes such as the M5, M6, M40 and M42 all pass through Birmingham connecting it to all parts of the nation.
Birmingham has a busy extensive rail network system. The busiest station is Birmingham New Street, which is actually the busiest station outside of London and offers Virgin fast trains to London Euston, Glasgow Central and Edinburgh Waverley.
Also, soon to be home to the High Speed 2 rail link, which will stop at Birmingham’s Curzon Street railway station and offer a service to central London in under 50minutes as well as other routes around the country. Travelling around within the city couldn’t be easier as Birmingham has one of the busiest urban rail systems and urban bus systems outside of London, capable of taking you to any desired location in and around the city.
There are five universities in Birmingham: University of Birmingham, Birmingham City University, University College Birmingham, Aston University and Newman University. The city also has major campuses of the University of Law, BPP University and 14 campuses of the Birmingham Metropolitan College, one of the largest further education colleges in the country, making it the highest population of students in higher education outside of London.
Birmingham is home to many amazing job opportunities through many well-known employers, such as; National Express, Lloyds Banking Group, RBS, Whitbread, Jaguar and Rolls Royce to name a few.
Frances Road,
Birmingham,
West Midlands,
England,
B23 7LD
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