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

55 Palatine Road, Blackpool, FY1 4BX - 6 views - a year ago
Sold STC
HMO
ROI: 27%
174 m²
Property image

ValuationUndervalued

Sold Prices£87.5K - £1.0M
Sold Prices/m²£913/m² - £2.2K/m²

 

 

Square Metres

174 m²
Price/m²£914/m²

Value Estimate

£195,570
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£39,750

Stamp Duty & Legal Fees

£9,830

Total Cash In

£49,580

 

 

Cash Out

 

Room Rate

£468

Gross Rent

£2,808

Running Costs/mo

£1,694

Cashflow/mo

£1,114

Cashflow/yr

£13,364

ROI

27%

Gross Yield

21%

Local Sold Prices

8 sold prices from £87.5K to £1.0M, average is £149.8K. £913/m² to £2.2K/m², average is £1.7K/m².

Price
Date
Distance
Address
Beds
 
£132K12/220.22 mi84, Regent Road, Blackpool FY1 4NB6
£315K11/220.23 mi149, Hornby Road, Blackpool FY1 4JG6
£110K07/250.55 mi29, Lonsdale Road, Blackpool FY1 6EE6
£87.5K07/210.59 mi7, Clarendon Road, Blackpool FY1 6EF6
£115K03/250.59 mi7, Clarendon Road, Blackpool FY1 6EF6
£167.5K12/221.06 mi103, Newton Drive, Blackpool FY3 8LZ6
£340K08/211.29 mi20, Windermere Road, Blackpool FY4 2BX6
£1.0M02/232.7 mi314, Hardhorn Road, Poulton-le-fylde, Lancashire FY6 8DH6

Local Area Statistics

Population in FY1

33,503

Population in Blackpool

133,713

Town centre distance

1.49 miles away

Nearest school

0.40 miles away

Nearest train station

0.63 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+24%

Sales demand

Balanced market

Capital growth (5yrs)

+32%

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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