Wakefield, WF2 9JQ | Investment Property for Sale | VES-WF2-001

Opportunity to purchase a HMO property in Wakefield with the potential to generate a gross yield of 10.7%

£270,000

HMO End of Terrace House

VES-WF2-001

INITIAL INVESTMENT

£81,600

Based on

deposit: £67,500

stamp duty: £11,600

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£28,860

GROSS YIELD

10.7%

ADD TO FAVOURITES

The property

TENANCY

Vacant

TENURE

Freehold

5 bedrooms

5 bathrooms

0

964

Fully Furnished

Property information

  • Property is currently undergoing full refurbishment and works are expected to complete on 01 October 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 F; rating is expected to improve following the works
  • 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 - £498.33 pcm
  • Room 4 - £476.67 pcm
  • Room 5 - £476.67 pcm
  • Total monthly rental income: £2,405
  • Total annual rental income: £28,860

Running costs

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

  • Council tax: £1,134.54 pa
  • Gas bill: £600 pa
  • Electricity bill: £600 pa
  • Water bill: £500 pa
  • Internet: £400 pa
  • Total cost pa: £3,234.54
  • Total cost pcm: £269.55

Location information

  • The property is located in the Alverthorpe area of Wakefield
  • Wakefield city centre is 1.5 miles from the property and can be easily reached by public transport
  • There is a bus stop just 1 minute from the property
  • Local amenities can be reached on foot

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 Wakefield, West Yorkshire

Wakefield is a cathedral city in West Yorkshire on the eastern edge of the Pennines.

Wakefield is very well connected with the intersection of the M1 and M62 motorways nearby, connecting it with London to Leeds and Liverpool to Hull respectively. The A61, A638 and A642 roads cross here and the A636 and A650 roads start in the city.

Leeds Bradford Airport is around 19 miles north of the city.

The city has two railway stations, one is Wakefield Kirkgate station which lies on the Hallam, Pontefract and Huddersfield lines. It also runs some services to London King’s Cross. Wakefield Westgate station runs services to Leeds, Doncaster as well as stations towards London King’s Cross. Other train services go to Newcastle, Edinburgh, Birmingham and the South West. There are limited trains to Sheffield, Derby and Leicester. Trains to London take less than two hours.

Wakefield has a lot to offer for all ages such as The Hepworth Wakefield, Yorkshire Sculpture Park, National Coal Mining Museum for England, National Trust Nostell, Pontefract Castle. Other adventurous activities include windsurfing across the lake at Pugneys Country Park, Gravity Trampoline Park or the snow slopes at Snozone.

For outdoor enthusiasts there are 69 managed parks and wildlife areas in the district, perfect for cycling, walking and wildlife spotting. In 2017 Wakefield was ranked as the tenth-fastest growing city economy in the UK. Part of the success is credited to the city’s location, with excellent transport links, ongoing regeneration and popular tourist attractions. A push to further develop the education sector is expected to bring further boost to the city.

Flanshaw Lane,

Wakefield,

West Yorkshire,

England,

WF2 9JQ

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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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