Maidstone, M14 2TL | Investment Property for Sale | VES-M14-001

Opportunity to purchase a HMO property in Maidstone generating £40,620 rent pa & gross yield of 9.6%

£425,000

HMO Terraced House

VES-M14-001

INITIAL INVESTMENT

£132,750

Based on

deposit: £106,250

stamp duty: £24,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£40,620

GROSS YIELD

9.6%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

6 bedrooms

6 bathrooms

0

1,431

Fully Furnished

Property information

  • Fully HMO licenced
  • 5 x double bedrooms with ensuite bathrooms
  • 1 x studio bedroom
  • Shared kitchen/diner
  • Separate laundry
  • Comes with front and rear garden
  • EPC rating C
  • Council tax band C

Rental information

  • Room 1 - £585 pcm
  • Room 2 - £500 pcm
  • Room 3 - £585 pcm
  • Room 4 - £575 pcm
  • Room 5 - £550 pcm
  • Room 6 - £595 pcm
  • Monthly rental income: £3,385
  • Annual rental income: £40,620

Running costs

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

  • Council tax: £152 pcm
  • Gas: £100 pcm
  • Electricity: £100 pcm
  • Water: £67 pcm
  • Broadband: £63 pcm
  • Cleaner: £60 pcm
  • TV licence: £14 pcm
  • Total cost pcm: £556
  • Total cost pa: £6,672

Location information

  • The property is just half a mile north of Maidstone town centre
  • Maidstone East railway station is also 0.5 miles from the property and can be reached in a 10-minute walk
  • There is a convenience store just a short walk from the property
  • Easy access to the A229

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 Maidstone, Kent

Maidstone is the largest town in Kent and lies around 32 miles south-east of London. The River Medway runs through the town centre and connects it to Rochester and the Thames Estuary.

Maidstone has very good transport links with the A229 running through the town, connecting it to Rochester and Hawkhurst, the A249 connecting it to Sheerness on the Isle of Sheppey, the A20 connecting it to Sevenoaks and Ashford, The A26 to Tonbridge and the A274 to Tenterden. The M20 motorway runs past Maidstone to the north with junctions 6 & 7 serving the town.

There are two railway routes, Maidstone East and Maidstone West. Maidstone East railway station is on the Maidstone line and trains are operated by Southeastern. Services run to London Victoria and Ramsgate via Ashford International and Canterbury West. Maidstone West railway station is also operated by Southeastern and lies on the Medway Valley line with services to Strood and Tonbridge. It also lies on the High Speed line to London Bridge.

Some of the things to do and see in Maidstone include Leeds Castle, Maidstone Museum, Mote Park, river excursions on the Kentish Lady riverboat, Balfour Winery, Buttercups Sanctuary for goats and the Maidstone Distillery.

Shopping in Maidstone offers a great variety with the usual high street favourites and a number of smaller boutique businesses. There are also three shopping centres: Fremlins Walk, The Mall and The Royal Star.

Education in Maidstone is provided by 15 secondary schools, 23 primary schools and 2 special schools. There are also 4 grammar schools and the University for the Creative Arts, which has a campus at the Maidstone TV studios.

The retail industry is the biggest local employer, followed by real estate, manufacturing, construction and transport and communications.

Boxley Road,

Maidstone,

Kent,

England,

ME14 2TL

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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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