Southend-on-Sea, SS1 1PX | Investment Property for Sale | VES-SS1-001

Opportunity to purchase a HMO property in Southend generating £42,600 rent pa & gross yield of 8.8%

£485,000

HMO Terraced House

VES-SS1-001

INITIAL INVESTMENT

£152,550

Based on

deposit: £121,250

stamp duty: £28,800

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£42,600

GROSS YIELD

8.8%

ADD TO FAVOURITES

Sold STC

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The property

TENANCY

Tenanted

TENURE

Freehold

5 bedrooms

5 bathrooms

0

1,151

Fully Furnished

Property information

  • HMO licence for 5 persons
  • 4 x bedrooms with ensuite bathrooms
  • 1 x studio room
  • Shared kitchen and dining area
  • Fully refurbished
  • Wifi-enabled heating
  • EPC rating D
  • Council tax band C
  • The property is managed by a third party

Rental information

  • Room 1 - £750 pcm
  • Room 2 - £750 pcm
  • Room 3 - £750 pcm
  • Room 4 - £650 pcm
  • Room 5 - £650 pcm
  • Monthly rental income: £3,550
  • Annual rental income: £42,600

Running costs

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

  • Council tax: £150 pcm
  • Electricity: £150 pcm
  • Water: £100 pcm
  • Wifi: £50 pcm
  • Cleaner: £75 pcm
  • Total cost pcm: £525
  • Total cost pa: £6,300

Location information

  • The property is located within the Westcliff-on-Sea area of Southend-on-Sea
  • Southend town centre is a 5-minute walk from the property
  • Southend Victoria railway station is 0.5 mile north-east and Southend Central is 0.5 mile south-east
  • Easy access to the A127 and wider road network

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 Southend-on-Sea, Essex

Southend-on-Sea is a resort town on the Thames Estuary in Essex, in the South East of England.

Southend-on-Sea lies 40 miles east of central London and is connected to London by road via the A127 and A13 (with a travel time of around 1 hour 20 minutes) or by train via Southend Central Station to London Fenchurch Street Station (55 minutes) or via Southend Victoria Station to London Liverpool Street Station (about 1 hour).

Its proximity to London has made Southend-on-Sea a popular commuter town with around a fifth of the working population commuting to London on a daily basis prior to the COVID-19 pandemic. Together with Southend-on-Sea being one of the most densely populated areas in the UK (outside of London) and having a high proportion of people aged over 65 years, this has resulted in considerable pressures on the local housing market, making it a relatively expensive place to buy a home. Southend-on-Sea also topped Simply Business’s best places to invest in buy-to-let property in October 2018.

The local economy is focused on tourism, with around 6 million visitors a year who are drawn to the beach and the traditional attractions of an English seaside resort, including the longest leisure pier in the world. Southend-on-Sea has industrial parks located at Progress Road, Comet and Aviation Ways in Eastwood and Stock Road in Sutton. Firms located in Southend-on-Sea include Olympus Keymed, Hi-Tec Sports, MK Electric and Royal Bank of Scotland card services, whilst Southend University Hospital employs over 4,450 people.

Queens Road,

Southend-on-Sea,

Southend-on-Sea,

England,

SS1 1PX

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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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