Sourced are delighted to present this modernised converted HMO with a guaranteed rent.
Recently refurbished substantial Victorian end terrace set over four levels, overlooking Falinge park and situated on the doorstep of local amenities on the doorstep of Rochdale town centre whilst having easy access to the motorway network. Internally, the well presented property offers 4 levels briefly comprising a hall, two large reception rooms, fully fitted kitchen, 5 double bedrooms, 3 bathrooms/shower rooms, gas central heating and UPVC double glazing. There is also a basement level with window which could be further developed subject to planning.
(Awaiting epc rating, epc will be carried out before exchange of contracts and all interested parties will be made aware of the rating).
•Exclusive off-market opportunity to purchase this potential 6 bed HMO.
•Guaranteed Rent for 5 years starting on the day you complete and extendable.
•Fixed rent for 5 years
Buy the property on an interest only mortgage >Hand over the key >Enjoy fixed rent for the next 5 years (starts from day of completion).
Purchase price: £250,000
Conversion cost: £16,500
Rental income: £16,320 pa
Sourcing fee: £7,500
NET profit: £8,820 pa
Mortgage payment: (4%) £7,500 pa
Located just 0.3 miles from Rochdale Infirmary and take just 5 minutes to walk there.
Average estimated value for a house in
Oldham has had 22% growth in the last 5 years and 6.5% growth in the last year.
The rental stock had a 100% turnover in the last month showing a very high demand and expected rises in future rents.
Sourced are a member of The Property Redress Scheme. Membership No. PRS010027
Your capital is at risk and you may lose all you lend. Peer to Peer investments are not covered by the FSCS. Legal charges secured against UK property, property values may go up or down. Investments are illiquid. See out Risk Statement at www.sourcedcapital.co for more information.
Sourced is the trading name of Jark-1 Limited which is an Appointed Representative (ref. no. 826510) of rebuildingsociety.com Ltd, a firm authorised and regulated by the Financial Conduct Authority. Jark-1 Limited is registered at Capital House, 6 Webster Court, Westbrook, Warrington, WA5 8WD. Jark-1 Limited is a member of The Property Redress Scheme (Membership No. PRS010227).