Opportunity to purchase a HMO property in Eastbourne generating £84,084 rent pa & 9.1% gross yield
£925,000
HMO End of Terrace House
VES-BN22-001
INITIAL INVESTMENT
£297,750
Based on
deposit: £231,250
stamp duty: £64,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£84,084
GROSS YIELD
9.1%
The property
TENANCY
Tenanted
TENURE
Freehold
11 bedrooms
11 bathrooms
2,120
Fully Furnished
Property information
- Fully HMO licenced
- 6 x double bedrooms with ensuite bathrooms
- 5 x single bedrooms with ensuite bathrooms
- 2 x Shared kitchen/diner
- Comes with a rear garden
- EPC rating D
- Council tax band C
Rental information
- Room 1 - £637 pcm
- Room 2 - £637 pcm
- Room 3 - £637 pcm
- Room 4 - £637 pcm
- Room 5 - £637 pcm
- Room 6 - £637 pcm
- Room 7 - £637 pcm
- Room 8 - £637 pcm
- Room 9 - £637 pcm
- Room 10 - £637 pcm
- Room 11 - £637 pcm
- Monthly rental income: £7,007
- Annual rental income: £84,084
Running costs
The vendor provided us with the following running costs of the property:
- Council tax: £150 pcm
- Gas: £50 pcm
- Electricity: £150 pcm
- Water: £120 pcm
- Wifi: £66 pcm
- TV licence: £13 pcm
- Cleaner: £120 pcm
- Total cost pcm: £669
- Total cost pa: £8,028
Location information
- The property is located just outside Eastbourne town centre
- Many local amenities are just a short walk from the property
- Eastbourne railway station is 0.7 miles away and can easily be reached within a 15-minute walk
- The promenade is a short walk away
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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 Eastbourne, East Sussex
Eastbourne is a town, seaside resort in East Sussex on the south coast of England, 19 miles (31 km) east of Brighton. Eastbourne is immediately to the east of Beachy Head, the highest chalk sea cliff in Great Britain and part of the larger Eastbourne Downland Estate.
It is a popular area for people looking to escape city life and in 2013 was voted the fourth best place to live by the sea in the UK.
As a seaside resort Eastbourne has a large and increasing income from tourism, with revenue from tourism increased by conferences, public events and cultural sightseeing. Eastbourne has a broad economic base and is home to companies in a wide range of industries in trade and retail, healthcare, education, construction, manufacturing, professional scientific and the technical sector.
Eastbourne has regeneration underway with an £85million investment to improve the town centre, develop the shopping and recreational facilities at the Arndale Centre and build the Devonshire Park sport and cultural complex. Combine this with Eastbourne’s direct trains to London Victoria, it will only attract more people to this fantastic location and property prices are likely to continue to rise.
Eastbourne is the amongst the fastest growing seaside towns in the UK. It is predicted by Savills that in the next 4 years the South East will see around a further 20-25% rise in property prices.
Willowfield Road,
Eastbourne,
East Sussex,
England,
BN22 8AL
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