London, N7 6BD | Investment Property for Sale | VES-N7-001

Opportunity to purchase a HMO apartment in London generating £33,420 rent pa & gross yield of 7%

£475,000

HMO Apartment

VES-N7-001

INITIAL INVESTMENT

£135,500

Based on

deposit: £118,750

stamp duty: £14,250

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£33,420

GROSS YIELD

7.0%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£10

SERVICE CHARGE

£1,540

3 bedrooms

1 bathroom

1 reception room

739

Fully Furnished

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 1988

Property information

  • Located on the 3rd floor
  • Shared kitchen
  • Shared bathroom & extra WC
  • Reception room is currently used as additional bedroom
  • Balcony leading off reception room
  • The apartment was fully refurbished in 2016, see for details below
  • EPC rating D
  • Property is located in equal distance to Finsbury Park and Holloway underground stations
  • 360° video walkthrough available for this property

Rental information

  • Fully let
  • Current monthly rental income £2,785
  • Prior to the pandemic, in February 2020, the property achieved £3,125 pcm

Running costs

The vendor provided us with the following running costs of this property:

  • Council tax: £119 pcm
  • Gas & electric bill: £85 pcm
  • Water bill: £38 pcm
  • Internet & TV licence: £40 pcm
  • Total cost pcm: £282
  • Total cost pa: £3,384

Refurbishment information

  • The property was fully refurbished in 2016 and works included:
    • New high gloss white kitchen including new appliances
    • New 3 piece full shower room including new WC
    • High-quality thick wood flooring throughout the apartment
    • New electrical wiring
    • New lighting
    • New internal doors
    • New plastering and paint throughout
  • In 2020 a new consumer electrical unit was installed
  • A new EICR report was also completed

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

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 Holloway, North London

Holloway is an inner-city district of the London Borough of Islington. It lies around 3 miles north of Charing Cross and follows the line of Holloway Road (A1).

The area has very good transport connections and public transport includes 4 London Underground stations, Caledonian Road (Piccadilly Line), Highbury & Islington (Victoria Line), Holloway Road (Piccadilly Line) and Archway (Northern Line).

The local London Overground stations are Caledonian Road & Barnsbury, Camden Road, Highbury & Islington and Upper Holloway.

There is also Drayton Park railway station at the southern end of Holloway Road, with regular services to Moorgate, Welwyn Garden City via Potters Bar as well as Hertford North.

In Holloway there are many different retail stores including vintage shops, old-fashioned markets as well as a variety of cafes, pubs and restaurants.

The area is also home to Arsenal FC stadium at Ashburton Grove attracting a high number of people to the local area on match days.

Whilst Holloway itself doesn’t have many green spaces Highgate Cemetery and Finsbury Park are a short journey away.

Axminster Road,

London,

Greater London,

England,

N7 6BD

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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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