*** 5 BEDROOM HMO *** This 3 Storey TOWN HOUSE is currently operating as a Fully licensed HMO (House of Multiple Occupation) achieving an 8.80% gross yield.
Entrance into the property is greeted with vinyl flooring stairs leading to first floor and down stairs WC
Double bedroom with fitted carpet and window to front
Double bedroom with fitted carpet and patio doors to the rear garden
The downstairs cloakroom is fitted with a two piece suite comprising of wash hand basin, WC and the room also benefits from a matching range of base units with worktop space over and window to rear.
Stairs to first floor
Double bedroom with fitted carpet and window to rear
Kitchen/Living Communal area
Fitted with a matching range of base and eye level units with worktop space over, one and a half bowl stainless steel sink with mixer tap, fridge/freezer and washing machine, fitted electric oven, built-in four ring gas hob with extractor hood over, double radiator, vinyl flooring, power point(s). The living area has a uPVC double glazed window to front, uPVC double glazed box bay window to front, sofa and dining table with 4 chairs
Stairs to second floor
Double bedroom with fitted carpet and two uPVC double glazed windows to rear.
Double bedroom with fitted carpet, two uPVC double glazed windows to front and double fitted wardrobes. The bedroom also benefits from an en-suite shower room.
The en-suite is fitted with a three piece suite comprising of shower cubicle, wash hand basin and WC.
Fitted with a three piece suite comprising bath with hand shower attachment, wash hand basin and low-level WC, radiator, vinyl flooring.
Driveway to the front with parking for one car.
The rear garden is enclosed by wooden panelled fencing to the rear and sides. It is mainly laid to lawn with a timber decked area.
Rules relating to the sale of a Licensed HMO:
Licences are not transferable. The new owner of the property must apply for a licence and pay a fee if they wish to continue operating the property as an HMO. This property is a licensed HMO with the Peterborough City Council, for more information on HMO Licenses please see: https://www.gov.uk/house-in-multiple-occupation-licence/peterborough
The property current has all safety certificates in date which are the following:
- Gas Safety
- Electrical Safety
- Emergency Lighting
- Smoke Alarm
- Portable Appliances
Fixtures and Fittings
Each room is furnished and included within the sale and the below items are:
• Double Bed
• Chest of Drawers
• Curtains/Window Coverings
Based on a sale at £250k and potential rental income of £2190 pcm (please note that these figures are an illustration based on an average buy to let mortgage and deposit and actual costs may vary)
- 75% loan assuming standard BTL loan at 4.39% (interest only)
- Capital used £76,464 (including deposit, stamp duty and conveyance)
- Annual pre tax profit of £9,498 = 12.42% pre tax income on capital used (these assumptions are based on a fully managed service)
- Gross yield = 8.80%
Every care has been taken with the preparation of these Particulars but complete accuracy cannot be guaranteed. If there is any point, which is of particular importance to you, please obtain professional confirmation. All measurements quoted are approximate. These Particulars do not constitute a contract or part of a contract