Opportunity to purchase a HMO property in Stevenage generating £30,360 gross rent pa & gross yield of 8.7%
£350,000
HMO End of Terrace House
VES-SG1-010
INITIAL INVESTMENT
£108,000
Based on
deposit: £87,500
stamp duty: £18,000
mortgage fees: £1,500
conveyancing fees: £1,000
GROSS RENT
£30,360
GROSS YIELD
8.7%
The property
TENANCY
Tenanted
TENURE
Freehold
6 bedrooms
4 bathrooms
1 reception room
1,189
Fully Furnished
Property information
- Fully HMO licenced
- 6 x bedrooms
- 3 of the bedrooms come with ensuite shower rooms
- All other tenants have the use of a shared bathroom
- Separate WC
- Shared kitchen
- Shared diner/lounge
- Rear garden
- Large parking area to the side of the property
- EPC rating D
- Council tax band C
Works carried out
Over the years the vendor has carried out various works on the property, including:
- Redone the main bathroom
- Redone ensuite
- Replaced the water tank
- Replaced the boiler
- Extended hot water tank
- Converted the garage into a bedroom
- Replaced fence
Rental information
- The vendor provided evidence that the property has previously achieved over £3,000 rent pcm, so there is scope to increase the rents in the future.
- The property currently achieves:
- Room 1 - £400 pcm
- Room 2 - £390 pcm
- Room 3 - £475 pcm
- Room 4 - £365 pcm
- Room 5 - £450 pcm
- Room 6 - £450 pcm
- Total rent pcm: £2,530
- Total rent pa: £30,360
Running costs
The vendor provided the following running costs for the property:
- Council tax: £147 pcm
- Gas & electricity: £267 pcm
- Water: £47 pcm
- Broadband: £64 pcm
- Total cost pcm: £525
- Total cost pa: £6,300
Location information
- The property is located in the St Nicholas area of Stevenage
- Stevenage centre is around 2 miles from the property
- A local convenience store is just a short walk away
- There is a bus stop nearby with regular services
- Stevenage railway station is around 2.5 miles from the property
- Easy access to the A1(M) via Junction 8
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 Stevenage, Hertfordshire
Stevenage is a town and borough in the county of Hertfordshire which acts as a commuter town and is situated approximately 28 miles north of the City of London.
Thameslink operates southbound services where you can get to Finsbury Park in 15 mins. Stevenage Railway Station lies on the East Coast Main Line and is managed by LNER. The train service is capable of getting to London King’s Cross in approximately 20 minutes.
The town centre benefits form a large pedestrianised area that features a wide array of shopping, dining and entertainment. Here one can find Roaring Meg Retail Park which has a selection of well-known department stores like Debenhams and other household names like Argos, Harveys and Furniture Village. Just up the road from here there is also a Cineworld Cinema Complex and Westgate Shopping Centre that features over 30 great stores including some of the biggest high street names in the country such as H&M and River Island.
Stevenage is home to many large employers’ head offices such as GlaxoSmithKline, Airbus Group Ltd, Paddy Power Betfair and Fujitsu to name a few.
This location could be perfect for young families that may be looking for local educational options for their young children that are in walking distance. Round Diamond Primary School is around 5 minutes away from this property and offers mixed sex teaching up to the age of 11.
Ripon Road,
Stevenage,
Hertfordshire,
England,
SG1 4LP
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