London, SW9 9EB | Investment Property for Sale | VES-SW9-004

Opportunity to purchase a HMO house in London generating £71,637 gross rent pa & gross yield of 6.2%

£1,150,000

HMO Terraced House

VES-SW9-004

INITIAL INVESTMENT

£368,250

Based on

deposit: £287,500

stamp duty: £78,250

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£71,637

GROSS YIELD

6.2%

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The property

TENANCY

Tenanted

TENURE

Freehold

6 bedrooms

2 bathrooms

2 reception rooms

1,620

Fully Furnished

Property information

  • Double-fronted Victorian House
  • Spread over 2 floors
  • HMO licence for up to 6 people in 6 rooms
  • 6 double bedrooms, each with space for a desk
  • Large lounge
  • Separate dining room which can be used as a work from home space
  • 2 kitchens
  • Garden with access via the kitchen
  • EPC rating D
  • A new boiler was installed in 2018

Rental information

  • Monthly net rental income: £5,475
  • Annual net rental income: £65,700
  • Tenants are paying all bills themselves including gas, electricity, council tax, water, TV licence, internet, fortnightly cleaner
  • Bills are estimated to come to £5,937 per year
  • Therefore annual gross rental income: £71,637
  • 12-month joint AST ending 11 September 2021

Potential to increase revenue

  • Subject to HMO licencing and planning permission one of the reception rooms could be used as a 7th bedroom. The vendor believes that £80,000 annual gross rent could be achieved, assuming the landlord pays for all bills.
  • Potential to add more space or bedrooms by converting the large loft which covers the whole breadth of the property. Subject to planning permission and relevant approvals.

Location information

  • Clapham North tube station and Clapham High Street Overground are around 7-minute walk away, and Stockwell tube station is around 6-minutes walk
  • Clapham High Street offers a number of bars, restaurants, a cinema and a choice of local food shops
  • The vast green spaces of Clapham Common are approximately a 10-minute walk away
  • The area also offers a number of gyms nearby

Note

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

Tenancy

RENT

£71,637 p.a. / £5,970 pcm

TENANCY DEPOSIT

£6,317

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

6 months ago

TENANCY AGREEMENT ENDS

9/11/2021

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 Larkhall, LB of Lambeth

Larkhall is a ward in the London Borough of Lambeth in south London and is in between Clapham and Stockwell. Most residents perceive themselves to be living in either Clapham or Stockwell.

Clapham

Clapham is mostly located within the London Borough of Lambeth with some areas extending into the London Borough of Wandsworth. It can be broadly divided into four key areas, Clapham North, Clapham Old Town, Clapham South and Clapham Junction.

One of the main draws of Clapham are the great transport links. There are three tube stations, on the Northern Line, and two railway stations as well as an extensive bus network which connects the area with much of south and central London.

Locals can take their pick of several large supermarkets as well as a number of independent grocers, butchers, fishmongers and bakeries. The area is also ideal for going out with a good choice of bars and restaurants most notably on Clapham High Street and Abbeville Road.

In the centre of Clapham is the 89-hectare Clapham Common, one of London’s largest open spaces. It has two woodlands, four ponds, one wetland and a bandstand and hosts several events throughout the year.

Stockwell

Stockwell is in the London Borough of Lambeth and lies around 2.4miles south of Charing Cross. The area is very well connected to central London and its tube station is less crowded than in neighbouring Clapham. Stockwell is served by the Victoria and Northern lines of the London Underground as well as by a large number of bus routes.

Even though Stockwell doesn’t have a real centre a number of shops can be found around the tube station and Brixton and Clapham are only a short walk away. Some of the best neighbourhood delis, cafes and bars can be found in ‘Little Portugal’, an area with the largest Portuguese community outside of Portugal.

For anyone looking for nature Larkhall Park is the perfect place. It is a large open space perfect for walking or summer picnics. It also has a café, children’s playground and bookable sports facilities for basketball, tennis and football.

Grantham Road,

London,

Greater London,

England,

SW9 9EB

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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.

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