FOR SALE 4 BED HMO IN SALFORD CLOSE TO UNIVERSITY POPULAR LOCATION - County Durham
Description : 07 Apr, 2023
THE PROPERTY
• This property is in a popular area of Salford with the University of Salford just a 16 minute walk away.
• In the heart of the student district, close to the student union, shops and all amenities.
CHOOSE SALFORD : GREAT VALUE FOR MONEY : EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS
• The University of Salford has over 21,000 students and the demand for shared houses in the area is high.
• With years of experience and a solid track record in student accommodation we are able to recognise that there is currently a very limited number of bespoke, fully licenced, and regulated student properties available. This creates a fantastic niche opportunity and excellent opportunities for high yields.
• Our success rate in Salford includes over 500 rooms fully occupied.
THE FINISHED PRODUCT
• All rooms will be rented at £105.00 per person per week.
• Fully regulated and compliant with the local council and passed for university accommodation approval.
• Completed including University required extras such as full fire safety accreditation. This comprises of interlinked smoke alarms in all rooms, emergency lighting systems, appropriate fire panels and heat sensors.
INVESTMENT OPPORTUNITY
Gerald Road - Salford
4 bed, 2 bathroom HMO
with Net returns from 15.07%
Gerald Road - Financial Breakdown – 4 Bedroom – 2 Bathrooms
Purchase Price: £195,000
Deposit: £42,000 - Finance (85% LTV based on 180k bricks and mortar Valuation)
Refurbishment: £2,000.00
Set up costs inc VAT - £13,615.50
Legals - £1,400.00
Stamp duty - £6,500.00
Survey - £750.00
Total Project Cost: £219,265.50
Total Cash outlay required from investor : £66,265.00
Rental Income: £105.00 PPPW (Ensuite) x 4 net of bills (water, gas, electricity) = £21,840.00 per annum net (based on 4 bedroom – 4 bathroom)
Management: £2,870.40 approx. - 10% + VAT fully managed
Annual mortgage cost/: £8,982 approx.
TRUE NET INCOME: £9,987.60 per annum
NET RETURN ON INVESTMENT: 15.07% per annum
Do not hesitate in contacting us on 0161 230 3367 if you require any further information.
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