FOR SALE 4 BED HMO IN SALFORD CLOSE TO UNIVERSITY POPULAR LOCATION

195.000 £

Description

THE PROPERTY, , • This property is in a popular area of Salford with the University of Salford just a 16 minute walk away., , • In the heart of the student district, close to the student union, shops and all amenities., , , CHOOSE SALFORD : GREAT VALUE FOR MONEY : EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS, , , • The University of Salford has over 21,000 students and the demand for shared houses in the area is high., , • With years of experience and a solid track record in student accommodation we are able to recognise that there is currently a very limited number of bespoke, fully licenced, and regulated student properties available. This creates a fantastic niche opportunity and excellent opportunities for high yields., , • Our success rate in Salford includes over 500 rooms fully occupied., , , , THE FINISHED PRODUCT, , • All rooms will be rented at £105.00 per person per week., • Fully regulated and compliant with the local council and passed for university accommodation approval., • Completed including University required extras such as full fire safety accreditation. This comprises of interlinked smoke alarms in all rooms, emergency lighting systems, appropriate fire panels and heat sensors., , INVESTMENT OPPORTUNITY, , Gerald Road - Salford, 4 bed, 2 bathroom HMO, with Net returns from 15.07%, , , Gerald Road - Financial Breakdown – 4 Bedroom – 2 Bathrooms, , Purchase Price: £195,000, Deposit: £42,000 - Finance (85% LTV based on 180k bricks and mortar Valuation), Refurbishment: £2,000.00, Set up costs inc VAT - £13,615.50, Legals - £1,400.00, Stamp duty - £6,500.00, Survey - £750.00, , Total Project Cost: £219,265.50, , Total Cash outlay required from investor : £66,265.00, , Rental Income: £105.00 PPPW (Ensuite) x 4 net of bills (water, gas, electricity) = £21,840.00 per annum net (based on 4 bedroom – 4 bathroom), Management: £2,870.40 approx. - 10% + VAT fully managed, Annual mortgage cost/: £8,982 approx., , TRUE NET INCOME: £9,987.60 per annum, , NET RETURN ON INVESTMENT: 15.07% per annum, , Do not hesitate in contacting us on 0161 230 3367 if you require any further information.