7 Bed HMO, South Shields, NE33 2JJ, £375,000

55 Ocean Road, South Shields, NE33 2JJ - 2 months ago

Sold STC
HMO
ROI: 7%
~217 m²
+13 photos

ValuationOvervalued

Sold Prices£80K - £459.9K
Sold Prices/m²£773/m² - £3.3K/m²

 

 

Square Metres

~217 m²
Price/m²£1.7K/m²

Value Estimate

£304,754

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£93,750

Stamp Duty & Legal Fees

£28,700

Total Cash In

£122,450

 

 

Cash Out

 

Room Rate

£475

Gross Rent

£3,325

Running Costs/mo

£2,636

Cashflow/mo

£689

Cashflow/yr

£8,273

ROI

7%

Gross Yield

11%

Local Sold Prices

42 sold prices from £80K to £459.9K, average is £226.5K. £773/m² to £3.3K/m², average is £1.4K/m².

PriceDateDistanceAddressBeds 
£80K03/230.06 mi3, Salmon Street, South Shields, Tyne And Wear NE33 2HF4
£117.5K12/200.07 mi44, Pollard Street, South Shields, Tyne And Wear NE33 2DP4
£145K05/210.07 mi10, Pollard Street, South Shields, Tyne And Wear NE33 2DP4
£220K09/230.13 mi24 - 26, George Scott Street, South Shields, Tyne And Wear NE33 2JR4
£300K12/220.15 mi7, St Aidans Road, South Shields, Tyne And Wear NE33 2EY4
£370K05/230.18 mi15, Seafield Terrace, South Shields, Tyne And Wear NE33 2NP4
£192K03/210.19 mi78, Julian Avenue, South Shields, Tyne And Wear NE33 2EW4
£215K11/200.23 mi29, Sea View Terrace, South Shields, Tyne And Wear NE33 2NW4
£330K03/210.23 mi27, Sea View Terrace, South Shields, Tyne And Wear NE33 2NW4
£325K04/230.27 mi59, Trajan Avenue, South Shields, Tyne And Wear NE33 2AN4
£226K12/200.27 mi40, Trajan Avenue, South Shields, Tyne And Wear NE33 2AN4
£190K06/210.33 mi52, Marine Approach, South Shields, Tyne And Wear NE33 2TG4
£125K12/200.34 mi105, South Woodbine Street, South Shields, Tyne And Wear NE33 2TD4
£300K01/230.35 mi33, Salisbury Place, South Shields, Tyne And Wear NE33 2NF4
£321K10/230.36 mi74, Lawe Road, South Shields, Tyne And Wear NE33 2AJ4
£302K10/220.36 mi8, Marina Drive, South Shields, Tyne And Wear NE33 2NH4
£437K06/220.37 mi166, Beach Road, South Shields, Tyne And Wear NE33 2NN4
£270K12/210.42 mi88, Greens Place, South Shields, Tyne And Wear NE33 2AQ4
£355K09/230.46 mi6, Coble Landing, South Shields, Tyne And Wear NE33 1JW4
£459.9K01/210.46 mi23, Harbour View, South Shields, Tyne And Wear NE33 1LR4
£297K02/210.6 mi6, August Place, South Shields, Tyne And Wear NE33 3DW4
£242.5K06/210.63 mi43, Osborne Avenue, South Shields, Tyne And Wear NE33 3DQ4
£180K10/210.64 mi15, Madeira Terrace, South Shields, Tyne And Wear NE33 3AQ4
£275K02/210.71 mi76, Mowbray Road, South Shields, Tyne And Wear NE33 3AX4
£150K03/240.71 mi24, Mowbray Road, South Shields, Tyne And Wear NE33 3AU4
£127.8K06/230.73 mi1, Westoe Avenue, South Shields, Tyne And Wear NE33 3AT4
£200K11/230.74 mi159, St Vincent Street, South Shields, Tyne And Wear NE33 3BJ4
£300K04/230.74 mi254, Mowbray Road, South Shields, Tyne And Wear NE33 3NW4
£329.9K06/210.74 mi240, Mowbray Road, South Shields, Tyne And Wear NE33 3NW4
£127K01/210.77 mi52, Chichester Road, South Shields, Tyne And Wear NE33 4HF4
£219K04/230.78 mi27, Beacon Street, North Shields, Tyne And Wear NE30 1JX4
£227K12/230.8 mi47, Rosebery Avenue, South Shields, Tyne And Wear NE33 3EX4
£180K02/240.8 mi5, Readhead Avenue, South Shields, Tyne And Wear NE33 3AW4
£238K05/210.82 mi12, Dockwray Close, North Shields, Tyne And Wear NE30 1JW4
£410K11/220.87 mi2, The Broadway, South Shields, Tyne And Wear NE33 3NQ4
£120K06/210.87 mi11, Imeary Street, South Shields, Tyne And Wear NE33 4EF4
£230K03/230.89 mi177, Northumbrian Way, North Shields, Tyne And Wear NE29 6XW4
£146.5K10/210.89 mi14, Chichester Road, South Shields, Tyne And Wear NE33 4AF4
£210K12/220.91 mi133, Northumbrian Way, North Shields, Tyne And Wear NE29 6XG4
£130K12/200.94 mi2, Spencer Street, North Shields, Tyne And Wear NE29 6RF4
£234K03/210.99 mi7, Belle Vue Terrace, North Shields, Tyne And Wear NE29 6SG4
£147.5K10/201 mi71, Seymour Street, North Shields, Tyne And Wear NE29 6SS4

Local Area Statistics

Population in NE33

27,262

Population in South Shields

79,432

Town centre distance

1.26 miles away

Nearest school

0.20 miles away

Nearest train station

0.28 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+19%

Sales demand

Seller's market

Capital growth (5yrs)

+8%

Property History

Listed for £375,000

February 25, 2025

Description

  • Investment Opportunity +
  • Prime Coastal Location +
  • Gas Central Heating and Double Glazing +
  • Lovely corner facing reception +
  • Fully Tenanted +
  • Rental Income per month £3327 per month with room to increase +
  • Guaranteed Income with an HMO License in place +
  • EPC Rating 'D' on a None Domestic Building +

We are pleased to present this spacious SEVEN BEDROOM END TERRACE, each with their own PRIVATE BATHROOMS, situated on an ample corner plot, on the DESIREABLE, OCEAN ROAD in the heart of South Shields. This property offers excellent potential as BOTH; an INVESTMENT OPPORTUNITY or a COMFORTABLE FAMILY HOME.

Situated in a fantastic coastal location with award-winning sandy beaches and scenic coastal walks, the property also benefits from close proximity to parks and a variety of bars and restaurants along Ocean Road.

The property boasts a generous corner plot and retains some charming period features. A Upvc door opens into the entrance hallway, providing access to the shared lounge, bedroom 1, and the spacious kitchen. Stairs lead to the first and second-floor landings.

The lounge, located at the front of the property, showcases elegant period features, including a wide open bay window. It is currently being used as a lounge/TV room by the tenants. The kitchen is equipped with a range of wall and base units, modern work surfaces, a stainless steel sink, laundry equipment, a fridge freezer, microwave, and a gas oven and hob.

Room 1 benefits from an external bathroom and W.C. on the first floor. Rooms 2, 3, and 4 are situated on the first floor, while rooms 5, 6, and 7 are located on the second floor. Five of the rooms are en-suite and furnished with double beds, side tables, wardrobes, and chests of drawers. Room 6 has access to a private shower room with a W.C. on the landing.

Externally, the property features a private yard to the rear and ample parking on street.

Agent Details

Prime Property Associates, Newcastle Upon Tyne

0191 743 9851

Next Steps?

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