Latest Valuation
£250,000
ROCE
18%
Location
Rochdale

Modernised Converted HMO with a Guaranteed Rent

Buy the property on an interest only mortgage, hand over the key, enjoy fixed rent for the next 5 years.
Guide Price
£250,000

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Key Features

  • Guaranteed rent
  • 5 year term - extendable
  • 6 bed HMO
  • Fixed rent for 5 years
  • Hands-off investment - turnkey investment
  • 18% ROCE

The Property

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).

Planning Information

N/A

The Plan

•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).

The Financials:

Purchase price: £250,000
Conversion cost: £16,500
Rental income: £16,320 pa
Sourcing fee: £7,500
ROI: 10%
ROCE: 18%
Yield: 6%
NET profit: £8,820 pa
Mortgage payment: (4%) £7,500 pa

The Location

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.

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