London, E3 5QW | Investment Property for Sale | VES-E3-012

Opportunity to purchase a HMO apartment in London generating £25,632 rent pa & gross yield of 5.7%

£450,000

HMO Apartment

VES-E3-012

INITIAL INVESTMENT

£128,500

Based on

deposit: £112,500

stamp duty: £13,500

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£25,632

GROSS YIELD

5.7%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

SERVICE CHARGE

£95

4 bedrooms

1 bathroom

1 reception room

915

Fully Furnished

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 1987
  • Service charge: includes £10 ground rent and insurance

Property information

  • HMO licence for 4 occupants or 3 households
  • Split over 2 floors
  • Private entrance to the flat (not shared with other building occupants)
  • Separate reception room
  • Extra storage in the hallway
  • Downstairs WC
  • A stud wall was installed to create the 4th bedroom, making the lounge smaller, to generate maximum income, but also maintain a communal space for the tenants
  • Parking available via application to park on the estate or with residents parking via the council
  • EPC rating D

Renovation information

  • The bathroom was completely renewed in October 2020
  • Works included:
    • New pipework
    • New flooring
    • New bath
    • New vanity
    • New rimless toilet
  • The flat was also completely redecorated

Rental information

  • The apartment is let on one tenancy agreement
  • Current monthly rent £2,136
  • The current tenants are due to move out and the new monthly rental income will be closer to £2,300
  • A higher rent could be achieved by letting the rooms individually

Location information

  • The property is located in Bow West, East London
  • Mile End tube station is around a 15-minute walk from the property
  • Mile End Park, Victoria Park and Regents Canal are all a short walk from the property

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 London Borough of Tower Hamlets, East London

The London Borough of Tower Hamlets is a borough north of the River Thames which covers most of the traditional East End.

To the west lies the City of London, to the north it borders the London Borough of Hackney, while the River Lea forms the boundary with the London Borough of Newham to the east.

The area comprises of 20 districts such as Bow, Canary Wharf, Limehouse, Mile End, Shadwell, Spitalfields, St Katharine’s and Whitechapel.

The LB of Tower Hamlets is well served by several train networks and has 31 public transport stations (3 mainline, 12 tube, 16 DLR) and will have 2 Elizabeth line (Crossrail) stations at Whitechapel and Canary Wharf.

Some of the historical landmarks in Tower Hamlets include Brick Lane, Fish Island, Tower of London, Tower Bridge, Columbia Road and Poplar Baths. Other noteworthy attractions include the Museum of London Docklands, V&A Museum of Childhood and Whitechapel Art Gallery.

There are several green spaces to be found such as Victoria Park, King Edward Memorial Park, Mile End Park and part of Queen Elizabeth Olympic Park.

The LB of Tower Hamlets is also home to the world or European headquarters of numerous major banks and professional services companies, located in Canary Wharf. These include Barclays, Citigroup, Clifford Chance, HSBC, J.P. Morgan, KPMG, and Thomson Reuters to name a few.

Education in the borough is provided by several schools and sixth form colleges, as well as New City College, Queen Mary University of London and London Metropolitan University.

Roman Road,

London,

Greater London,

England,

E3 5QW

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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