Opportunity to purchase a HMO property in Halifax generating £44,460 rent pa & gross yield of 11.1%
£400,000
HMO Terraced House
VES-HX1-007
INITIAL INVESTMENT
£124,500
Based on
deposit: £100,000
stamp duty: £22,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£44,460
GROSS YIELD
11.1%
The property
TENANCY
Tenanted
TENURE
Freehold
6 bedrooms
6 bathrooms
2,056
Fully Furnished
Property information
- Set over 3 floors
- Fully HMO licenced
- The property has been extensively renovated and refurbished and works were completed in December 2022
- The vendor is a professional specialist HMO developer with 30 years of experience
- 6 x bedrooms
- All bedrooms come with ensuite shower room
- All bedrooms have their own kitchenette
- Shared large kitchen/dining area
- EPC rating D
- Council tax band tbc
Rental information
The vendor will offer a master tenancy for 3 years, guaranteeing a gross return of 11% or net return of 6%
Rental demand for this property is very strong due to its close proximity to the town centre
- Room 1 - £135 pwk
- Room 2 - £140 pwk
- Room 3 - £145 pwk
- Room 4 - £145 pwk
- Room 5 - £145 pwk
- Room 6 - £145 pwk
- Weekly rental income: £855
- Monthly rental income: £3,705
- Annual rental income: £44,460
Running costs
The vendor provided us with the following running costs of the property:
- Council tax: £210.83 pcm
- Electricity: £164.17 pcm
- Water: £75 pcm
- Broadband: £26 pcm
- Cleaning: £62.50 pcm
- Total cost pcm: £538.50
- Total cost pa: £6,461.96
Location information
- The property is located just on the edge of Halifax town centre
- All local amenities are just a short walk from the property
- Halifax railway station is around 0.6 miles from the property
- There are a number of bus stops within a short walk with regular services to Halifax and it's surrounding area
- Easy access to the A58
Note
Please note that Vesta has not visited this property and that the vendor has provided all material.
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 Halifax, West Yorkshire
Halifax is a minster town in West Yorkshire, England. It lies around 9 miles north of Huddersfield and 9 miles southwest of Bradford.
It is probably best known for Mackintosh’s chocolate products including Quality Street and Rolo, as well as Halifax Bank (now part of Lloyds Banking Group), which was founded here and still has its headquarter in the town.
Halifax is connected via the A58 that goes around the town west-bound to Leeds and all the way to Wetherby and east-bound to Prescot. Halifax railway station is on the Caldervale Line running services to Manchester Victoria, York, Selby via Bradford and Leeds, Blackpool North and London Kings Cross via Wakefield Kirkgate.
The town has much to offer for visitors, with its many Victorian buildings. Some of its attractions include the Grade I-listed Piece Hall, which is still used for a public market today, Halifax Minster which was completed in 1438, Calderdale Industrial Museum, the Town Hall, and Wainhouse Tower, the tallest folly in the world at 275ft.
Dean Clough is a converted mill factory, which was once one of the largest carpet manufacturing factories in the world and is now housing around 150 businesses and arts venues. These include retail shops as well as bars and restaurants.
There are also a number of outdoor activities on offer including Another World Adventure Centre, North Dean Woods, People’s Park and The Jungle Experience at Manor Heath Park.
Saint James Road,
Halifax,
West Yorkshire,
England,
HX1 1YS
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