London, W14 8AS | Investment Property for Sale | VES-W14-003

Opportunity to purchase a HMO apartment in London generating £40,320 rent pa & gross yield of 4.9%

£830,000

HMO Apartment

VES-W14-003

INITIAL INVESTMENT

£251,400

Based on

deposit: £207,500

stamp duty: £41,400

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£40,320

GROSS YIELD

4.9%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Share of Freehold

SERVICE CHARGE

£1,000

4 bedrooms

1 bathroom

1 reception room

996

Fully Furnished

Share of freehold information

  • Length of lease: 999 years
  • Year lease started: 2007
  • Service charge: 1,000 pa, includes building insurance

Property information

  • HMO licence for up to 6 people in 4 bedrooms
  • One reception room is currently used as a bedroom
  • Shared kitchen
  • Shared bathroom
  • There is also a small office which is rented separately
  • EPC rating D

Rental information

All tenants are on a 12 month AST agreement with a 6-month break clause.

  • Room 1 - £710 pcm - let since August 2020
  • Room 2 - £800 pcm - let since November 2020; can achieve £950 for 2 people
  • Room 3 - £950 pcm - let since April 2020; can achieve £1,100 for 2 people
  • Room 4 - £650 pcm - let since November 2020
  • Office - £250 pcm - let separately
  • Total rent once fully let pcm: £3,360
  • Total rent once fully let pa: £40,320

Running costs

The vendor provided the following running costs for the property:

  • Gas: £50 pcm
  • Electricity: £50 pcm
  • Water: £36 pcm
  • Council tax: £131 pcm
  • TV licence: £13.12 pcm
  • Sky broadband: £32 pcm
  • Cleaner: £112.66 pcm (based on fortnightly cost of £52)
  • Total cost pcm: £424.78
  • Total cost pa: £5,097.36

Location information

  • Shepherds Bush underground station is less than 10 minutes walk away
  • Westfield White City with its shops and restaurant is also within a 10-minute walk of the property
  • The park in Holland Park and Kensington (Olympia) station are both around half a mile from the property

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 Kensington, W London

Kensington is a district of the Royal Borough of Kensington and Chelsea in West London. This district is situated around 3 miles to the west of Charing Cross.

This area is serviced by 3 underground stations and one London Overround station. These three underground stations include High Street Kensington, Gloucester Road and South Kensington which all lie on the District & Circle lines and South Kensington and Gloucester Road both benefit from the Piccadilly line which provides links to the West End in about 10 minutes. Kensington Olympia provides London Overground services with 4 trains per hour (tph) northbound to Willesden Junction, with 2 continuing to Stratford and 4 tph southbound to Clapham Junction. In addition, from this station Southern operates an hourly service between Milton Keynes to East Croydon.

There are many notable attractions and institutions in Kensington, these include Kensington Palace, the Royal Albert Hall, the Natural History Museum, The Science Museum and many more. Kensington High Street is the commercial centre in this district and has a selection of typically upmarket retail options. The opening of the Westfield shopping centre in nearby White City has provided extensive retail and dining options for all occasions with over 400 stores and services spread across 5 floors.

Kensington is a major media sector within the city and many outlets run their operations from the large Barkers department store building. This district is home to the head office of the newspaper group DMGT, which produces the Daily Mail, Mail on Sunday, Metro and more. Alternatively, there are thousands of job opportunities in London and there are more than numerous adequate travel options to get you there from this location.

Holland Road,

London,

Greater London,

England,

W14 8AS

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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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