5 Bed HMO, Luton, LU2 7RT, £325,000

138 Ridgway Road, Luton, LU2 7RT - a year ago

Sold STC
HMO
ROI: 5%
83 m²
+11 photos

ValuationOvervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£81,250

Stamp Duty & Legal Fees

£14,700

Total Cash In

£95,950

 

 

Cash Out

 

Room Rate

£500

Gross Rent

£2,500

Running Costs/mo

£2,112

Cashflow/mo

£388

Cashflow/yr

£4,656

ROI

5%

Gross Yield

9%













Property History

Listed for £325,000

November 17, 2023

Sold for £164,000

2014

Sold for £124,995

2003

Floor Plans

Description

  • Nova Estate Agents +
  • Prime investment opportunity +
  • HMO licensed +
  • 5 bedrooms +
  • £30,000PA approx income +
  • Close to town centre and train station +
  • Extended +

This property, situated on Ridgway Road, offers a lucrative opportunity for seasoned investors seeking to expand their portfolio. Currently operating as a House of Multiple Occupancy (HMO), all five rooms are currently leased, resulting in a commendable 8% rental yield with the potential for further growth.

The interior features an inviting entrance porch leading to a spacious hallway. The ground floor boasts a communal lounge area and a generously sized kitchen, providing ample cupboard space for residents. Two bedrooms, one large double and a single, complete the ground floor accommodations.

On the first floor, a further two double bedrooms, a single bedroom and a shared shower room are available, with the front facing larger room also featuring an additional shower room. Externally, the property offers a well maintained rear garden with laid lawn, while the front features a boundary wall and a path leading to the front door. Residents can benefit from permit parking at the front.

This property presents a hassle-free investment opportunity for those looking to enhance their portfolio and seamlessly take over the existing tenancies.

Agent Details

Nova Estate Agents, Luton

01582 377133

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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