Opportunity to purchase 2 HMO properties in Harlow generating £90,720 rent pa & gross yield of 9.1%
£1,000,000
2-unit HMO portfolio
VES-CM20-002
INITIAL INVESTMENT
£326,250
Based on
deposit: £250,000
stamp duty: £73,750
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£90,720
GROSS YIELD
9.1%
The property
TENANCY
Tenanted
TENURE
Freehold
12 bedrooms
10 bathrooms
2 reception rooms
2,802
Fully Furnished
Portfolio information
- This mini-portfolio consists of 2 x 6-bed neighbouring terraced houses
- The properties are fully licenced HMOs
- Both properties are identical on the inside and comprise:
- 6 x bedrooms
- 4 bedrooms have ensuite shower rooms
- 2 tenants have the use of 1 shared bathroom
- Downstairs WC
- Communal kitchen
- Communal living area
- Both properties come with outdoor space
- EPC rating C
- Council tax band D
Refurbishment information
- The vendor carried out extensive refurbishment works on both properties in 2018/2019
- Works included:
- Complete gutting and modernisation
- New carpets throughout
- New kitchens
- New bathrooms
- New furniture
- New boiler in one of the properties
Rental information
Both properties are fully tenanted and achieve:
- Monthly room rental income: £7,560
- Annual rental income: £90,720
Running costs
The vendor provided us with the following running costs for both properties:
- Gas: £410 pcm
- Electric: £500 pcm
- Cleaner: £90 pcm
- Council tax: £330 pcm
- Water: £130 pcm
- Broadband: £108 pcm
- TV licence: £28 pcm
- Total monthly costs: £1,596
- Total annual costs: £19,152
Available upon request
- Rental breakdown
- EPCs for both properties
Location information
- The properties are located just outside of Harlow town centre
- The town centre can be reached on foot in under 10 minutes
- Harlow Town railway station is 0.9 miles away and can be reached in 20-minutes on foot
- Many local amenities are just a short walk away
- Easy access to the local road network and the M11 via junction 7
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 Harlow, Essex
Harlow is a town in the west of Essex on the border with Hertfordshire and London. It lies around 23.5 miles north-east of central London.
The M11 motorway passes in the east of Harlow connecting it to London and Cambridge, as well as to the M25 orbital. The A414 runs through the town from Hertford to Chelmsford.
Harlow has two railway stations, Harlow Town and Harlow Mill railway station. Both stations are on the West Anglia Main Line with Greater Anglia trains running to London Liverpool Street, Stratford, Stanstead Airport, Cambridge and Bishops Stortford. The Stansted Express also stops at Harlow Town taking passengers to Stansted Aiport.
There is also a bus service to Epping tube station which is on the Central Line of the London Underground in Travelcard Zone 6. Stanstead Airport is only 10 miles from Harlow and can easily be reached by car or train.
Harlow is surrounded by Gren Belt land preventing the spread of the city. Between the town centre and Harlow Town railway station lies Harlow Town Park which, at a size of 164 acres, is one of the largest urban parks in the country. The park has multiple gardens, a bandstand, a skate park, a showground, playgrounds, paddling pools, an outdoor gym, picnic tables and toilet facilities. It also has a petting Zoo, Pet’s Corner and a café.
Harlow is also home to a collection of over 100 public sculptures which are dotted around in the open air, shopping centres, housing estates and parks. The Gibberd Gallery runs several exhibits throughout the year and is located in the Civic Centre. Harlow Museum and Walled Gardens is a historic place with over 1000 years’ worth of captured history. The museum itself is housed in an old stable block and there are three historical gardens set over two acres of land.
There are many shopping opportunities in town with the usual high street favourites, as well as the Broad Walk shopping centre, Water Gardens and the St James retail park.
Education is provided by seven state-funded secondary schools as well as an independent school and Harlow College. There is also an international campus of Memorial University of Newfoundland.
The local economy is based in the commercial and leisure sectors, however, Harlow is also part of the London commuter belt and with Cambridge and Stanstead Airport within close proximity many locals tend to commute for work.
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Important Note
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