Latest Valuation
£525,000
Yield
4.9%
Selling Agent
Sourced Barnet

Discounted 5 Bed HMO in London

Fully Tenanted Investment Opportunity
Guide Price
£510,000

Share this page

Message Agent





Key Features

  • Fully Tenanted
  • New Kitchen
  • New Refurbishment
  • Above Average Yield of 4.9% Net
  • HMO licence until 2021

The Property

Sourced is proud to be present this opportunity to acquire a fully extended 5 bedroom family home with a brand new fitted kitchen, 2 reception rooms, 3 shower rooms, a full HMO licence and rear outbuilding within walking distance to Seven Kings Rail Station.

This is a well-kept house whereby on the ground floor of the property you will be able to find 2 separate reception rooms, a ground floor shower room and an extended kitchen/dining area which leads to the rear garden. On the first floor of the property, you will find 3 bedrooms (2 double rooms and a single) along with the first floor shower room. 2 further bedrooms (a double and a single room) and the third and final shower room, complete the property on the second floor.

The property benefits further from off street sparking and a rear outbuilding.

The property is located within a sought after area within Ilford, IG3 and is located within walking distance to Seven Kings TFL Rail Station, soon to be part of the Elizabeth Line. Also, situated off the ever popular Green Lane, local shops, school, bus routes and supermarkets are all within close proximity, much to your convenience.

The Financials:
• Purchase price: £510,000
• Valuation: £525,000
• Yield: 4.9%
• Rental income: £2,620 pcm
• ROCE: 21.8%

Reception 1
12'02" x 11'00" (3.68m x 3.35m)

Reception 2
10'04" x 11'06" (3.15m x 3.51m)

Kitchen and extended diner
6'10" x 7'07" (2.08m x 2.31m)
9'00" x 16'11" (2.74m x 5.16m)

Ground floor shower room
5'05" x 3'06" (1.65m x 1.07m)

Bedroom 1
11'06" x 11'04" (3.51m x 3.45m)

Bedroom 2
8'07" x 11'01" (2.62m x 3.38m)

Bedroom 3
5'10" x 10'03" (1.78m x 3.12m)

First floor shower room
6'10" x 3'05" (2.08m x 1.04m)

Bedroom 4
9'07" x 9'03" (2.92m x 2.82m)

Bedroom 5
9'03" x 7'11" (2.82m x 2.41m)

Second floor shower room
6'03" x 3'00" (1.91m x 0.95m)

Planning Information

N/A

The Plan

To run the HMO and generate good cash flow in the region £800 pcm, dependant on interest rate and expenses.

This is a well-kept house whereby on the ground floor of the property you will be able to find 2 separate reception rooms, a ground floor shower room and an extended kitchen/dining area which leads to the rear garden. On the first floor of the property, you will find 3 bedrooms (2 double rooms and a single) along with the first floor shower room. 2 further bedrooms (a double and a single room) and the third and final shower room, complete the property on the second floor.

The Location

The property is located within a sought after area within Ilford, IG3 and is located within walking distance to Seven Kings TFL Rail Station, soon to be part of the Elizabeth Line. Also, situated off the ever popular Green Lane, local shops, school, bus routes and supermarkets are all within close proximity, much to your convenience.

"Ilford is one of North East London’s largest towns, and now presents an excellent case for investment in property. With so much regeneration investment arriving here, it's become one of London’s key towns to watch."

"Ilford will receive over £40m of Crossrail-related investment that will see Ilford Station upgraded, along with the surrounding public areas. The plan has also promised to deliver up to 1,500 new homes, commercial floor space and significant investment in local facilities, including the Exchange retail centre."

Ilford benefits from being within close proximity of Central London, whilst being a lovely suburban area in which to live. With plenty of green spaces, pubs and the large Exchange Shopping Complex, the area offers loads in the way of amenities and recreation. Great areas to explore buying property would be Valentine's Park and Gants Hill.

Average estimated value for a house in IG3

£366,094

The average price for property in IG3 9XY stood at £366,094 in February 2020. This is a fall of 0.48% in the last three months (since November 2019) and rise of 1.64% since 12 months ago.

In terms of property types, flats in IG3 9XY sold for an average of £224,731 and terraced houses for £366,094.

In the last 5 years house prices have risen by 21.81% a value change of £65,544, with this current trend Ilford is solid investment for capital growth.