6 Bed HMO, Blackpool, FY1 4BX, £159,000

55 Palatine Road, Blackpool, FY1 4BX - 5 months ago

Sold STC
HMO
ROI: 27%
174 m²
+1 photos

ValuationUndervalued











Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£39,750

Stamp Duty & Legal Fees

£9,150

Total Cash In

£48,900

 

 

Cash Out

 

Room Rate

£465

Gross Rent

£2,790

Running Costs/mo

£1,690

Cashflow/mo

£1,100

Cashflow/yr

£13,196

ROI

27%

Gross Yield

21%













Property History

Price changed to £159,000

February 20, 2025

Listed for £169,000

November 6, 2024

Description

A mid terraced block of 6 student apartments situated close to Blackpool & The Fylde College University Centre. Arranged internally as 6 en-suite units with superbly appointed recreation/common areas including; fitted kitchen with Edwardian style upvc roof; common lounge/office; TV room; utility/washing and drying room and forecourt parking. Each apartment is let on an assured shorthold tenancy and includes all bills as is typical for student accommodation.

**3/3/2025 We have received an offer of £150,000
Any increased offers are to be received within 5 days of this notice at the agents.**

LOCATION
Palatine Road, Blackpool.

GROUND FLOOR
Shared entrance leading to the hallway; communal workspace/office; superbly styled communal kitchen with UPVC Edwardian style ceiling, fitted units, worktops, five ring gas hob, 2 ovens and extraction fan; TV lounge; utility space with washer/dryer. Room 1 with en-suite.

FIRST FLOOR
Room 2, Room 3 - Each with en-suite

SECOND FLOOR
Room 4, Room 5 - each with en-suite

THIRD FLOOR
Dormer - Room 6 - with en suite

EXTERIOR
Front parking; Rear concrete yard

BUSINESS
We are advised each apartment is let at £390.00 pcm. Landlord pays all bills as student accommodation. 5 of 6 Units occupied at the time of inspection.

We are advised HMO certification is presently being renewed.

SERVICES
Gas, Electric & Water. Council Tax Band: C. EPC 'D' until 2034.

Surface water flooding is sometimes known as flash flooding - It happens when rainwater cannot drain away through normal drainage systems. This property has no history of flooding in the last 5 years.

This property is in an area listed as having a high risk of surface water flooding which means more than 3.3% chance of a flood each year in that general location.

TENURE
Freehold.

Agent Details

Kays Peake Properties Ltd, Blackpool

01255 442053

Next Steps?

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