Oldham, OL4 2QZ | Investment Property for Sale | VES-OL4-002

Opportunity to purchase a HMO property in Oldham with the potential to generate a gross yield of 10.8%

£264,000

HMO End of Terrace House

VES-OL4-002

INITIAL INVESTMENT

£76,420

Based on

deposit: £66,000

stamp duty: £7,920

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£28,600

GROSS YIELD

10.8%

ADD TO FAVOURITES

The property

TENANCY

Vacant

TENURE

Freehold

5 bedrooms

5 bathrooms

0

862

Fully Furnished

Property information

  • Property is currently undergoing full refurbishment and works are expected to complete on 13 September 2021
  • The schedule of works can be provided upon request
  • HMO licence is required by the council
  • Spread over 2 floors
  • All bedrooms come with ensuite bathrooms
  • Shared kitchen
  • EPC rating D
  • The property will be professionally managed

Rental information

Once fully let the following rents are expected to be achieved per room:

  • Room 1 - £476.67 pcm
  • Room 2 - £476.67 pcm
  • Room 3 - £476.67 pcm
  • Room 4 - £476.67 pcm
  • Room 5 - £476.67 pcm
  • Total monthly rental income: £2,383.33
  • Total annual rental income: £28,600

Running costs

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

  • Council tax: £1,354.78 pa
  • Gas bill: £600 pa
  • Electricity bill: £600 pa
  • Water bill: £500 pa
  • Internet: £400 pa
  • Total cost pa: £3,454.78
  • Total cost pcm: £287.90

Location information

  • The property is located in the Waterhead area of Oldham
  • Oldham city centre is 1.5 miles from the property and can be easily reached by public transport
  • There is a bus stop 1 minute walk from the property
  • Local amenities can be reached within walking distance

Note

Please note that the pictures are not of the actual property but represent a previously completed property from the same vendor. They are for illustrative purposes only and to show the level of quality this property will be finished. The floorplan does represent this property.

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 Oldham, Greater Manchester

Oldham is a large town in the Greater Manchester area in the north-west of England. It lies around 8 miles north-east of Manchester, 7 miles south of Rochdale and 4.5 miles north of Ashton-under-Lyne.

The town is linked to the M62 motorway via the M60 at Hollinwood and the A627(M) by Chadderton. There are a number of A roads that connect Oldham to Ashton-under-Lyne, Huddersfield, Manchester and Rochdale.

Oldham no longer has its own railway station but it is connected through the Manchester Metrolink to Manchester and Rochdale.

Some of the attractions in and around Oldham include Castleshaw Roman Fort, Huddersfield Narrow Canal, Saddleworth Museum, Dovestone Reservoir and Gallery Oldham. With its close proximity to the Peak District National Park there are plenty of opportunities for outdoor activities to choose from such as walking, cycling, horse riding, canoeing or rock climbing.

Throughout the year several events are being held such as Whit Friday Brass Bands contests, Saddleworth Rush Cart Festival, Illuminate, Diggle Blues Festival and Cotton Clouds Music Festival, offering a variety for everyone to enjoy.

Oldham town centre offers plenty of shopping opportunities with many independent shops as well as its two shopping centres, Town Square and the Spindles.

Historically the town’s economy was very strong in the manufacturing of textiles and mechanical engineering, but this has since been replaced by home shopping, publishing, healthcare and food processing industries.

Sharples Hall Street,

Oldham,

Greater Manchester,

England,

OL4 2QZ

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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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