Latest Valuation
£
ROCE
%
Location
Middlesbrough

Fully Tenanted Portfolio of 6 Properties with Excellent Rental Yields

The plan for this investment opportunity is it purchase the portfolio and benefit from great rental yields.
Guide Price
£380,000

Share this page

Enquire about this property

Key Features

  • Fully tenanted
  • 7.8% yield
  • Portfolio of 6 properties
  • Long term tenants

The Property

Sourced are excited to present this fully tenanted portfolio of 6 properties with excellent rental yields.

TS13 4RU Lumley St. Bought June 2018. Current tenant has been in since 17th September 2019. Latest agreement signed 11/12/20. Daughter in law of tenant at TS13 4SA. Current rent is £450 PCM paid direct from council with a £30 top up from tenant. Wants long term agreement. Prior to tenant moving the property was fully refurbished.

TS13 4SA High Row. Identical original build to Lumley St, does not have an extension. Upstairs bath reduces it to 2.1/2 bedrooms.(would be considered three in London) Bought 2006. Current tenant has been in since October 2013. Current rent £416 PCM. Says she wants long term. Recent new kitchen /Boiler.

TS13 4RY Cliffe Cres. Bought 2007. Current rent £390 PCM. Tenancy due for renewal on 6/1/21 but tenant says he wants to stay. House was bought from a builder who modernised it however vendor has replaced the bathroom and boiler.

TS13 4JF North Tce, Bought June 2008. Was a full refurb. This was bought as a holiday let due to its location on the Cleveland Way Walk and its outstanding views however my friends daughter wanted it to live in. Current tenant has been in since June 2019, she took over the tenancy from her ex partner who in turn took it over from his sister. Been with the same family since April 2013 Current rent £447.17 PCM but agreed for five years.(tenancy is dated 11/12/20 for twelve months but morally my agreement is cast in stone.

Guisborough is a more affluent town closer to Middlesbrough. About 11 miles away. For this reason I have a manager (who is good) run these for me, Never have any problem letting here.

TS14 6NA Wilson St. Bought November 2006.Was a full refurb. Net rent after fees £385 PCM. Not sure on tenancy as managed house.

TS14 6NA Wilson St Bought April 2017. Bought ready to use. Rent after fees £410.00PCM. Not sure on tenancy as managed house.

Selling Office: Manchester Central

Planning Information

N/A

The Plan

Great opportunity to purchase a fully tenanted portfolio of 6 properties in Middlesbrough.

The plan for this investment opportunity is it purchase the portfolio and benefit from great rental yields.

The Financials:

Purchase price: £380,000 (for whole portfolio)
Purchase price: £63,333 (per property)
Sourcing fee: 2%
Rental income: £29,976 pa
Yield: 7.8%

The Location

Properties in TS13 had an overall average price of £133,691 over the last year.

The majority of sales in TS13 during the last year were terraced properties, selling for an average price of £110,005. Semi-detached properties sold for an average of £154,685, with detached properties fetching £210,041.

Overall, sold prices in TS13 over the last year were 14% up on the previous year and 2% down on the 2018 peak of £136,523.

Average estimated value for a house in TS13 4RU

£

All properties are below current market value.

Content missing