Potential 4-Bed HMO, Harrow, HA2 0NN, £575,000

South Hill Avenue, Harrow, HA2 0NN - 8 months ago

HMO
Planning
~93 m²
+3 photos

ValuationOvervalued

Sold Prices£408.3K - £825K
Sold Prices/m²£4.1K/m² - £7.1K/m²

 

 

Square Metres

~93 m²
Price/m²£6.2K/m²

Value Estimate

£521,985

 

 

End Value (After Refurb)

£545,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£143,750

Stamp Duty & Legal Fees

£46,200

Refurb Costs

£49,200

Bridging Loan Interest

£15,094

Total Cash In

£255,994

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£545,000

Mortgage (After Refinance)

£408,750

Mortgage LTV

75%

Cash Left In

£255,994

Equity

£136,250

Room Rate

£375

Gross Rent

£1,500

Running Costs/mo

£2,563

Cashflow/mo

£-1,063

Cashflow/yr

£-12,761

Gross Yield

3%

Local Sold Prices

50 sold prices from £408.3K to £825K, average is £506.3K. £4.1K/m² to £7.1K/m², average is £5.6K/m².

PriceDateDistanceAddressBeds 
£825K12/220.05 mi65, Brooke Avenue, Harrow, Greater London HA2 0ND3
£590K07/230.09 mi58, South Hill Avenue, Harrow, Greater London HA2 0NQ3
£465K12/200.12 mi26, Eastcote Road, Harrow, Greater London HA2 8LG3
£444K03/210.18 mi9, Wargrave Road, Harrow, Greater London HA2 8LL3
£500K02/230.2 mi4, Wargrave Road, South Harrow, Harrow, Greater London HA2 8LN3
£458.5K07/210.24 mi19, Scarsdale Road, Harrow, Greater London HA2 8LP3
£545K09/230.24 mi27, Scarsdale Road, Harrow, Greater London HA2 8LP3
£470K03/230.25 mi7, Sherwood Road, Harrow, Greater London HA2 8AW3
£465K04/210.26 mi13, St Margarets Avenue, Harrow, Greater London HA2 8BZ3
£465K04/210.28 mi52, Sherwood Road, Harrow, Greater London HA2 8AR3
£470K04/210.28 mi56, Sherwood Road, Harrow, Greater London HA2 8AR3
£430K02/210.3 mi31, Stanley Road, Harrow, Greater London HA2 8AY3
£415K01/230.33 mi67, Sherwood Road, Harrow, Greater London HA2 8AP3
£500K10/230.34 mi34, Halsbury Road East, Northolt, Greater London UB5 4PX3
£580K05/230.34 mi57, Halsbury Road East, Northolt, Greater London UB5 4PX3
£535K10/230.34 mi84, Halsbury Road East, Northolt, Greater London UB5 4PY3
£408.3K02/210.34 mi38, Beechwood Avenue, Harrow, Greater London HA2 8BY3
£440K11/210.36 mi3, Leathsail Road, Harrow, Greater London HA2 8EW3
£575K01/210.36 mi21, Wood End Avenue, Harrow, Greater London HA2 8NU3
£445K10/200.38 mi42, Wood End Gardens, Northolt, Greater London UB5 4QJ3
£545K06/210.4 mi1, Maple Avenue, Harrow, Greater London HA2 8DG3
£565K07/230.4 mi36, Wood End Avenue, Harrow, Greater London HA2 8NX3
£585K10/200.43 mi49, Westwood Avenue, Harrow, Greater London HA2 8NR3
£500K02/210.44 mi38, Westwood Avenue, Harrow, Greater London HA2 8NS3
£580K06/210.44 mi78, Wood End Road, Harrow, Greater London HA1 3PS3
£426K11/200.45 mi32, Dudley Road, Harrow, Greater London HA2 0PR3
£565K12/220.45 mi22, Halsbury Road West, Northolt, Greater London UB5 4PN3
£505K03/230.45 mi25, Park Mead, Harrow, Greater London HA2 8NQ3
£488K08/230.45 mi80, Roxeth Green Avenue, Harrow, Greater London HA2 8AG3
£573.5K08/210.46 mi2, Shaftesbury Avenue, South Harrow, Harrow, Greater London HA2 0PH3
£447K02/230.46 mi38, Roxeth Hill, Harrow, Greater London HA2 0JW3
£450K11/200.47 mi67, Dudley Road, Harrow, Greater London HA2 0PS3
£570K12/200.47 mi102, Cavendish Avenue, Harrow, Greater London HA1 3RQ3
£545K05/210.48 mi23, Killowen Avenue, Northolt, Greater London UB5 4QT3
£510K04/210.48 mi40, Killowen Avenue, Northolt, Greater London UB5 4QT3
£487K10/230.48 mi33, Mary Peters Drive, Greenford, Greater London UB6 0SS3
£630K02/210.5 mi79, Cavendish Avenue, Harrow, Greater London HA1 3RF3
£530K08/230.51 mi37, Park Lane, Harrow, Greater London HA2 8NW3
£600K03/230.53 mi17, Hillside Crescent, Harrow, Greater London HA2 0QU3
£445.5K12/200.54 mi51, Hillside Crescent, Harrow, Greater London HA2 0QU3
£507.5K05/210.54 mi137, Wood End Gardens, Northolt, Greater London UB5 4QW3
£497K02/210.54 mi102, Park Lane, Harrow, Greater London HA2 8NL3
£490K02/230.54 mi180, Roxeth Green Avenue, Harrow, Greater London HA2 0QW3
£535K06/210.55 mi84, Park Lane, Harrow, Greater London HA2 8NL3
£600K06/210.55 mi132, Park Lane, Harrow, Greater London HA2 8NL3
£575K11/230.55 mi20, Wood End Way, Northolt, Greater London UB5 4QQ3
£532.5K11/230.55 mi49, Clauson Avenue, Northolt, Greater London UB5 4PS3
£458K12/200.55 mi66, Clauson Avenue, Northolt, Greater London UB5 4PS3
£535K06/210.55 mi45, Clauson Avenue, Northolt, Greater London UB5 4PS3
£558K11/220.55 mi162, Roxeth Green Avenue, Harrow, Greater London HA2 0QW3

Local Area Statistics

Population in HA2

55,273

Population in Harrow

164,559

Town centre distance

1.75 miles away

Nearest school

0.30 miles away

Nearest train station

0.14 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+1%

Sales demand

Buyer's market

Capital growth (5yrs)

+25%

Property History

Price changed to £575,000

November 19, 2024

Listed for £650,000

August 7, 2024

Description

  • DEVELOPMENT OPPORTUNITY +
  • PERMISSION GRANTED FOR 2 X SEMI DETACHED BUNGALOWS +
  • EXPANSIVE EXTENSION TO EXISTING PROPERTY GRANTED +

Development opportunity

Permission granted for 2 X 3 bedroom semi-detached houses with parking.

Permission granted for large extensions to provide a 3-4 bed family home or 4-5 room HMO rental.

Introducing an exceptional development opportunity conveniently located just moments away from South Harrow underground station. Situated within easy reach of several bus routes, including those leading to Harrow on the Hill underground station, this property offers an ideal position for seamless commuting into the city. With approved planning permission to demolish the existing unit and build two contemporary 3 bed 3 bath homes of some 1260sqft each, and parking for both units, this project promises both convenience and modern living. Dont miss the chance to capitalize on this prime location and create two remarkable residences

Another exciting option is the approved planning permission to extend the existing unit into a spacious 3-4 bedroom home, also suited for conversion into a 4-5 room House in Multiple Occupation (HMO). Boasting a potential rental yield ranging from £3800 to £4300 per calendar month, this property presents an attractive investment prospect.

Whether youre seeking a lucrative rental income or a spacious family home, this versatile property could offer endless possibilities. Currently rented under an Assured Shorthold Tenancy (AST) agreement at £1850 per calendar month, this property presents an immediate income stream while offering the potential for lucrative expansion.

Agent Details

Woodrow Morris, Harrow-on-the-Hill

020 3835 3775

Next Steps?

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

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