6 Bed HMO, Harrogate, HG1 5HD, £425,000

81 Mayfield Grove, Harrogate HG1 5HD - 8 months ago

HMO
ROI: 4%
~114 m²
+13 photos

ValuationOvervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£106,250

Stamp Duty & Legal Fees

£22,700

Total Cash In

£128,950

 

 

Cash Out

 

Room Rate

£523

Gross Rent

£3,138

Running Costs/mo

£2,681

Cashflow/mo

£457

Cashflow/yr

£5,480

ROI

4%

Gross Yield

9%













Property History

Listed for £425,000

May 24, 2024

Sold for £220,000

2014

Sold for £223,000

2007

Sold for £187,000

2006

Sold for £80,000

2001

Floor Plans

Description

EXCELLENT INVESTMENT OPPORTUNITY - A very well managed, profitable 6 bedroom HMO, currently producing a 9% annual return.

An ideal investment opportunity to acquire the freehold of a stone built, end terraced Victorian house which is a fully let and licensed HMO (House in Multiple Occupation), producing an income of £37,680 per annum.

The property has double glazed windows and doors, gas central heating and comprises: a well presented communal living room, a fully fitted communal kitchen, three cloakrooms/w.c. There are two stylish shower rooms, and six bedrooms of differing sizes producing fair rental returns.

Full Grade A LD2 fire detection system, smart heating controls and has good occupancy levels. Popular location with tenants. To the outside is a communal paved patio area.

The property is located very close to the centre of the historic Spa town of Harrogate, having an extensive range of restaurants, bars and shops, both independent and chains. With a wide and diverse range of leisure and cultural facilities, numerous supermarkets, and a broad range of superb schools – both state and independent. Harrogate is well connected by road, with the A1(M) eight miles from the centre, providing easy access to the north and south, whilst the mainline station offers direct services to London Kings Cross in three hours.

All mains services connected.

Standard 16 Mbps 1 Mbps Good

Superfast 132 Mbps 20 Mbps Good

Ultrafast 1000 Mbps 220 Mbps Good

Networks in your area - Openreach, Virgin Media

Mobile Coverage:

EE Likely

Three Limited

O2 Limited

Vodafone Likely

Agent Details

FSS, Harrogate

01423 227954

Next Steps?

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