5 Bed HMO, Luton, LU2 7RT, £325,000

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

Sold STC
HMO
ROI: 5%
89 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 19, 2023

Sold for £200,000

2015

Sold for £142,000

2005

Sold for £74,000

2002

Floor Plans

Description

  • Nova Estate Agents +
  • Excellent investment opportunity +
  • HMO licensed +
  • 5 Bedrooms +
  • £30,000PA approx income +
  • Close to town centre and station +
  • Extended +
  • Tenants in situ +

Situated on Ridgway Road, this residence presents an enticing prospect for investors keen on portfolio expansion. Operating as a House of Multiple Occupancy (HMO), all five rooms are presently occupied, yielding a commendable 8% return on investment with the promise of further growth. (subject to rent reviews)

The ground floor showcases a communal lounge area and a spacious kitchen, boasting ample cupboard space for residents. The accommodations on this level include two bedrooms; one, a larger than average room forming part of the rear extension, and the other a well sized double bedroom.

The first floor contains two double bedrooms, one single bedroom and a shared shower room. External features include a maintained rear garden with lawn and decking area. Residents can take advantage of permit parking at the front.

This property offers a hassle free investment opportunity for those eager to enrich 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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