Overview

6-bed, HMO property for sale in Preston. The property is a large 3 storey property with 2 bathrooms, kitchen, and living space and a yard to the rear. Due to the size of the property the bedroom size on offer to tenants is larger than most on the market. The property is generating just short of £35,000.00 per annum and produces a gross yield of 10%.

The property has been very well maintained throughout and is currently full occupied. Broadgate is situated in an incredibly popular rental area and is close to excellent transport links including bus routes, shops & amenities. 

I

nvestment Information

Full Address: 4 Broadgate, Preston PR1 8DX

Type: 6 bed mid terraced HMO property.

Bathrooms: 2

Parking: On street, no restrictions.

Garden Space: Yard to the rear.

Sqft Of Property: 1800

Tenure: Freehold

HMO License In Place: Yes 

EPC Rating: F

Tenancy Information

How Many Rooms Are Currently Tenanted: 6

When Do The Tenancies End: This information can be made available to interested buyers.

Overall Rental Figure: £2,894.00pcm (£34,728).

Managing Agent: Self-managed by the landlord, has several in the Preston area.

Currently the landlord covers the maintenance bill which includes council tax, water, electric, gas, internet, and buildings insurance. This equates to £7,500.00 per annum. If any new buyer wanted to put the cost of this onto the tenants, we work out that the current rentals on each apartment would need to be upped by just over £100.00 per month to cover the cost

Price range:

6 Bedroom HMO £350,000

Reservation:

£2,000 reservation fee (takes the unit off the market)

Broker Fee 6%

Exchange though solicitor 

Completed project 

Mortgage or cash