- Fantastic HMO Investment Opportunity +
- 5 Bedrooms, 2 Bathrooms Mid-Terraced Property +
- Rent: £2,117pcm +
- ROI 11.6% +
- 146 sqm. +
- Refurbished to a High Standard +
- Desirable Location off Princes Avenue +
- Gross Yield 13.7% +
A beautifully designed double fronted, extended, five bedroom, two bathroom refurbished HMO located in a highly desirable location off Princes Avenue. The residential street is a short stroll away from Pearson Park, as well as a selection of supermarkets, takeaways, bars and cafes. The location is incredibly popular with families, professionals and contractors and as such the property is well placed to continue as a successful investment for years to come.
Based on 75% LTV with a 5% interest rate and taking buying costs into account the projected cashflow of £565.26 per month and ROI of 11.6% present an appealing investment proposition.
The property offers an exceptional blend of space and style making it perfect for shared living, with a great open plan living space.
The current owner refurbished the property to a high standard using quality fixtures and fittings, as well as oak fire doors. There has been a new boiler installed in 2024, which also included a full power flush of the central heating system.
Perfectly designed for comfort, convenience and contemporary living, the accommodation offers, a light & bright entrance hallway which leads through into the attractive open plan living space. The kitchen is fully equipped with contemporary high gloss fittings, ample storage, a double oven and 5 ring hob. There is also a full height integrated fridge and a dishwasher. The kitchen leads to an open plan dining space with great sized dining table and breakfast bar with stools, and patio doors opening up to the rear decked garden. The rear garden is also accessible through a side passageway from the front street.
The lounge lies beyond the dining area with high ceilings and large feature light, cosy seating, storage and wall mounted TV. The 'L' shape communal living area, including single storey extension with roof windows was designed specifically for an HMO to allow housemates to relax and socialise together, providing a more enjoyable experience.
Also located off the hallway there is a good size utility space, with washing machine, separate dryer and tall freezer, plus ample additional storage space. The utility provides access through to the modern ground floor shower room which is mostly tiled with white fittings, wall mounted illuminated mirrored cabinet and walk in shower cubicle.
The final rooms on the ground floor are two spacious double bedrooms, with impressive bay windows, allowing plenty of natural light into the rooms. Each of the rooms are thoughtfully designed and decorated and offer adequate storage, a comfortable gas lift storage bed, full length mirror, wall light and workspace.
To the first floor there are three well proportioned double bedrooms all with wardrobe, chest of drawers and bedside tables. There is also a communal office room, which proves very appealing to professional tenants who do an element of work from home.
The first floor also features the contemporary second shower room, with large shower cubicle. There is a separate toilet. The property has fully double glazed windows and the gas central heating and hot water is powered by an Ideal boiler.
The property meets with current fire regulation requirements having a Grade D mains interlinked fire alarm system installed, fire doors throughout and a fire blanket in the kitchen.
The property is located just off Princes Avenue. There are a selection of supermarkets, takeaways, bars and cafes within a few minutes walk. The popular street of Newland Avenue is also within walking distance, offering further amenities, a bank and a post office.
The current owner holds an HMO licence for the property and has confirmed that the property met with all of the conditions of the licence.
