5 Bed HMO, Bolton, BL1 4NE £340,000

STUNNING HMO INVESTMENT OPPORTUNITY - Somerset Road, Just Off Chorley New Road, Bolton, Lancashire., BL1 4NE - 1 views - 2 years ago
HMO
Inside Article 4
ROI: 1%
~202 m²
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ValuationUndervalued

Sold Prices£270K - £1.2M
Sold Prices/m²£1.5K/m² - £4.8K/m²

 

 

Square Metres

~202.06 m²
Price/m²£1.7K/m²

Value Estimate

£421,600
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£85,000

Stamp Duty & Legal Fees

£25,200

Total Cash In

£110,200

 

 

Cash Out

 

Room Rate

£429

Gross Rent

£2,145

Running Costs/mo

£2,086

Cashflow/mo

£59

Cashflow/yr

£712

ROI

1%

Gross Yield

8%

Local Sold Prices

32 sold prices from £270K to £1.2M, average is £530K. £1.5K/m² to £4.8K/m², average is £2.9K/m².

Price
Date
Distance
Address
Beds
 
£280K03/250.14 mi14, Mornington Road, Bolton BL1 4EE5
£530K06/230.2 mi21, Somerdale Avenue, Bolton, Greater Manchester BL1 5HS5
£475K06/250.25 mi23, Kinloch Drive, Bolton BL1 4LZ5
£600K09/230.29 mi54, Albert Road West, Bolton, Greater Manchester BL1 5HG5
£515K07/250.34 mi52, Albert Road West, Bolton BL1 5HG5
£590K09/230.34 mi14, Glentress Mews, Bolton, Greater Manchester BL1 5JS5
£485K04/230.37 mi62, New Hall Lane, Bolton, Greater Manchester BL1 5LG5
£581K07/230.4 mi38, Carlton Road, Bolton, Greater Manchester BL1 5HY5
£595K06/230.43 mi1a, Rydal Road, Bolton, Greater Manchester BL1 5LQ5
£735K03/250.44 mi184, Greenmount Lane, Bolton BL1 5JE5
£735K03/250.44 mi184, Greenmount Lane, Bolton BL1 5JE5
£600K05/210.52 mi3, Fern Clough, Bolton, Greater Manchester BL1 5DX5
£327K11/230.56 mi571, Chorley Old Road, Bolton, Greater Manchester BL1 6BL5
£530K04/250.57 mi80, Waterslea Drive, Bolton BL1 5FJ5
£530K04/250.57 mi80, Waterslea Drive, Bolton BL1 5FJ5
£575K07/230.57 mi12, Hill Side, Bolton, Greater Manchester BL1 5DT5
£1.2M12/220.58 mi382, Chorley New Road, Bolton, Greater Manchester BL1 5AD5
£270K07/210.6 mi1, Bank Wood, Bolton, Greater Manchester BL1 5DY5
£645K06/210.68 mi3, Oakley Park, Bolton, Greater Manchester BL1 5XL5
£425K06/210.8 mi22, Lingmell Close, Bolton, Greater Manchester BL1 5EG5
£565K12/240.85 mi169, Markland Hill Lane, Bolton BL1 5PB5
£475K03/250.89 mi64, Harpers Lane, Bolton BL1 6HR5
£475K03/250.89 mi64, Harpers Lane, Bolton BL1 6HR5
£900K03/250.91 miKirkgate House, Markland Hill, Bolton BL1 5AL5
£900K03/250.91 miKirkgate House, Markland Hill, Bolton BL1 5AL5
£380K11/210.92 mi12, Glendale Drive, Bolton, Greater Manchester BL3 4PD5
£330.5K01/250.92 mi22, Glendale Drive, Bolton, Greater Manchester BL3 4PD5
£500K05/250.92 mi6, Stockmar Grange, Bolton BL1 5GQ5
£500K05/250.92 mi6, Stockmar Grange, Bolton BL1 5GQ5
£450K09/230.93 mi8a, Verdure Avenue, Bolton, Greater Manchester BL1 5ER5
£900K12/220.95 miThe Croft, Victoria Road, Bolton, Greater Manchester BL1 5AN5
£350K09/210.98 mi7, Kenmay Avenue, Bolton, Greater Manchester BL3 4NU5

Local Area Statistics

Population in BL1

63,206

Population in Bolton

217,471

Town centre distance

1 miles away

Nearest school

0.10 miles away

Nearest train station

1.47 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-4%

Sales demand

Seller's market

Capital growth (5yrs)

+34%

Property History

Listed for £340,000

April 29, 2024

Sold for £237,000

2012

Floor Plans

Property image

Description

  • 5 BEDROOM LICENSED HMO +
  • CURRENTLY FULLY OCCUPIED +
  • GENERATING £25,740 PER ANUM GROSS RENTAL INCOME +
  • FULLY MANAGED BY HARRISONS +
  • HMO Licence expires – 20th April 2025 +
  • HMO Compliant Fire Alarm +
  • IDEAL INVESTMENT +
  • CALL TODAY AND ORGANISE YOUR VIEWING +

Welcome to Somerset Road HMO, this fully tenanted property is now coming to market. An excellent investment with strong capital growth, strong rental demand, this is not an investment to be missed.....

Room 1 - £425 Room 2 - £450 Room 3 - £425 Room 4 - £420 Room 5 - £450

Fully Managed Fees - 12% inc VAT Let Fees - 1 Months Rent Inc VAT

EPC: C COUNCIL TAX: C TENURE: FREEHOLD

PROPERTY LOCATION: Bolton School (0.1 MILES) Queens Park (0.7 MILES) Bolton Town Centre (1.5 MILES) Bolton Train Station (1.6 MILES) Morrisons (0.4 MILES)

PROPERTY DETAILS: GENERATING £25,740 PER ANUM GROSS RENTAL INCOME 5 BEDROOMS 2 BATHROOMS FULLY LICENSED FULL PROPERTY MANAGEMENT FULL FIRE ALARM SYSTEM WIFI

**HARRISONS EXPERIENCE THE DIFFERENCE** BOOK A VIEWING ONLINE / TELEPHONE / WHATSAPP FLEXIBLE VIEWING APPOINTMENTS AVAILABLE OPEN 6 DAYS A WEEK CONTACT OUR BRANCH FOR MORE DETAILS

Front Garden: Lawned front garden with hedges.

Entrance Porch: 1.68m x 1.84m Tiled flooring, cupboard and worktop units with shelving inside, gas meter.

Entrance Hallway: 5.13m x 1.8m Beech laminate flooring, ceiling spotlight, emergency lighting, wired smoke alarm, double panel radiator.

Lounge: 6.06m x 3.93m Beech laminate flooring, x2 two seater sofa's, coffee table, dining table with 4 chairs. Double panel radiator. Roller blinds on the front bay window, pendant light. Chrome lamp.

Kitchen: 3.54m x 4.1m Double fitted high gloss grey kitchen with laminate tiled affect flooring. Stainless steel sink, with chrome mix tap. Frosted double glazed unit with 2 openers. Ceilings spotlights. Splash back tiles in cream. Homark dish washer, double oven, 5 ring gas burner, stainless steel splash back, stainless steel extractor. Wine rack. x2 large fridges and freezers.

Hallway: 1.39m x 3.93m

Bedroom 1: 5.67m x 3.99m Large double bedroom, double panel radiator, feature fireplace, roller blind on the bay window, beech laminate flooring, wardrobes, side board, double bedroom and 2 side cabinets. Pendant light.

Utility Room: 1.96m x 2.64m Boiler in the Utility Room.

Downstairs Shower Room: 2.47m x 2.46m Solid wood flooring, sink pedestal, white tiled walls, fitted storage and shelving, x2 chrome heated towel radiator. x2 Frosted double glazed unit with opener, pendant light. Large double tiled shower with chrome power shower and glass shower screen.

Storage Cupboard: 1.0m x 1.31m

Landing: 5.0m x 2.09m Carpet on the staircase leading you to the landing. Double glazed fixed unit to the rear. Carpet flooring, single panel radiator, ceiling spotlights, emergency lighting and smoke alarm.

Bedroom 2: 4.15m x 2.99m Wood laminate flooring, double glazed fire escape opener, ceiling LED spotlights. Single panel radiator.

Bedroom 3: 5.53m x 3.8m Ceiling spotlights, double glazed bay window with sitting area, single panel radiator.

Bedroom 4: 5.6m x 3.52m Large bedroom, single panel radiator, double glazed bay window with roller blinds, ceiling pendant light with fan. Beech laminate flooring, double bedroom, side boards.

Bedroom 5: 3.82m x 2.95m Double bedroom, carpet flooring, fitted wardrobes and shelving, double glazed fire escape opener to the rear, LED ceiling spotlights.

Bathroom: 3.2m x 1.8m Modern bathroom, bath with glass shower screen, rain water shower head, heated towel rail. Fixed wall mirror. High glass fitted cupboards with shelving. White bidet with mixer tap, white WC, white sink with cupboard, Fully tiled walls and flooring. LED recess spotlights.

AML Disclaimer Please note it is a legal requirement that we require verified ID from purchasers before instructing a sale. Please also note we shall require proof of funds before we instruct the sale, together with your instructed solicitors.

Agents Note We may refer you to recommended providers of ancillary services such as Conveyancing, Financial Services, Insurance and Surveying. We may receive a commission payment fee or other benefit (known as a referral fee) for recommending their services. You are not under any obligation to use the services of the recommended provider. The ancillary service provider may be an associated company of Harrisons Lettings and Management Ltd.

IMPORTANT NOTE TO POTENTIAL PURCHASERS: We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. The services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All photographs and measurements have been taken as a guide only and are not precise. Floor plans where included are not to scale and accuracy is not guaranteed. If you require clarification or further information on any points, please contact us, especially if you are travelling some distance to view.

POTENTIAL PURCHASERS: Fixtures and fittings other than those mentioned are to be agreed with the seller.

BUYERS INFORMATION To conform with government Money Laundering Regulations 2019, we are required to confirm the identity of all prospective buyers. We use the services of a third party, Credas, which Harrisons Lettings and Management Ltd will send your AML check. There is a nominal charge of £30 including VAT for this (per person), payable direct to Harrisons Lettings and Management Ltd. Please note, we are unable to issue a memorandum of sale until the checks are complete.

REFERRAL FEES We may refer you to recommended providers of ancillary services such as Conveyancing, Financial Services, Insurance and Surveying. We may receive a commission payment fee or other benefit (known as a referral fee) for recommending their services. You are not under any obligation to use the services of the recommended provider. The ancillary service provider may be an associated company of Harrisons Lettings and Management Ltd.

Harrisons Lettings and Management are members of the property ombudsman redress scheme (membership no. T09665). All clients money is protected with Clients Money Protection (CMP). Harrisons Lettings and Management are members of ARLA PropertyMark (membership no. M00006602)

Agent Details

Harrisons Estate Agents, Bolton

01202 145436

Next Steps?

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