Opportunity to purchase a HMO apartment in Ipswich generating £46,320 rent pa & gross yield of 17.5%
£265,000
HMO Apartment
VES-IP4-001
INITIAL INVESTMENT
£79,950
Based on
deposit: £66,250
stamp duty: £11,200
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£46,320
GROSS YIELD
17.5%
The property
TENANCY
Tenanted
TENURE
Leasehold
GROUND RENT
£250
7 bedrooms
3 bathrooms
2,217
Fully Furnished
Please note that the property is for cash buyers only.
Leasehold information
- Length of lease: 125 years
- Year lease started: 2016
- Years left on lease: 119 years (from 2022)
- Ground rent review period: tbc
- Service charge review period: n/a
Property information
- HMO licence for 8 people in 6 bedrooms
- 1 self-contained studio with ensuite and kitchen
- 6 double bedrooms
- Shared kitchen and dining area
- 2 shared bathrooms
- Extra storage in the hallway
- Off-road parking for 3 cars
- Garage, currently let long-term for storage
- EPC rating D
- Council tax band B
Rental information
- Room 1 - double room - £490 pcm
- Room 2 - double room - £490 pcm
- Room 3 - double room - £490 pcm
- Room 4 - double room - £550 pcm
- Room 5 - double room - £575 pcm
- Room 6 - double room - £575 pcm
- Room 7 - studio - £625 pcm
- Garage - £65 pcm (£780 paid annually every November)
- Total rent pcm: £3,860
- Total rent pa: £46,320
Additional income
- 3 parking spaces were previously rented at £75 pcm; not currently rented
Running costs
The vendor provided us with the following running costs for this property:
- Council tax: £200 pcm
- Electricity: £350 pcm
- Water: £50 pcm
- Broadband: £40 pcm
- TV licence: £40 pcm
- Cleaner: £75 pcm
- Total cost pcm: £755
- Total cost pa: £9,060
Location information
- The property is located in the centre of Ipswich with all amenities on the doorstep
- Ipswich railway stations is 0.7 miles and can be reached within a 15-minute walk
- Christchurch Park can be reached on foot in under 10 minutes
Note
Please note that Vesta has not visited this property and that all material has been provided by the vendor.
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 Ipswich, Suffolk
Ipswich is a large port town in Suffolk on the River Orwell. It lies around 19 miles north-east from Colchester, 27 miles south-east of Bury St Edmunds, 40 miles south of Norwich and 45 miles east of Cambridge.
The A12 and A14 roads surround Ipswich connecting it to Lowestoft and London as well as to Port of Felixstowe to Catthorpe Interchange in Leicestershire. Ipswich is around one hour from Stanstead airport and 40 minutes from Harwich International port.
Ipswich railway station is on the Great Eastern Main Line and with seven rail routes: 2 routes from London Liverpool Street to Norwich, London Liverpool Street to Ipswich, Ipswich to Peterborough, Harwich International to Cambridge, Harwich International to Lowestoft, and Ipswich to Felixstowe.
Some of the local attractions include Ipswich Museum, Ipswich Transport Museum, New Wolsey Theatre, Chantry Park, Holywells Park, Jimmy’s Farm & Wildlife Park, Christchurch Mansion, to name a few. Ipswich waterfront offers the opportunity to watch yachts and boats come in and out of the marina. There are also several cafes and restaurants as well as galleries, shops and museums. Some of the local river cruises start at the marina too.
On the main high street one can find a good range of well-known brands and high street favourites. However, in the cobbled streets leading away from the high street some great independent shops can be discovered.
Education is provided by a number of state and independent schools and academies, as well as Suffolk New College and a sixth form college. The University of Suffolk is the one of the UKs newest universities and can be found at the waterfront.
Ipswich’s main employers are in the insurance and wholesale and retail sectors and include AXA, Churchill, Legal & General, LV and Willis Towers Watson. The Ipswich Haven port is still a working port and handles several million tonnes of cargo each year, providing employment for a large number of people. Adastral Park, a science campus based at Martlesham Heath, also offers a home to several companies including Fujitsu, Huawei, O2 plc, Cisco and Juniper Networks to name a few.
Tacket Street,
Ipswich,
Suffolk,
England,
IP4 1AU
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