High Yielding HMO in Manchester
Prices From £215,000
Global Property Investors are pleased to introduce our latest below market value investment opportunity located in the popular town of Middleton in Manchester.
The house has recently been completely refurbished to meet all HMO requirements and is ready to let.
Each room has its own en-suite shower room and kitchenette. There is also a communal kitchen and dining area, each room has its own electric consumer units and separate electric meter.
There is also car parking for five cars at the rear of the property.
The property is situated within a five minutes walk of the centre of Middleton which has a large bus station, it is also a 10 minute drive from the M62 and the M60.
There are number of managing agents who would manage the property on behalf of an armchair investor. Fees will vary from 8-10% pcm.
The estimated rental value of the units is circa £30,000 per annum based on each bedroom achieving circa £96 per week. Utility bills would usually be covered by the landlord and would include electric, council tax, water and broadband. We estimate this to be circa £2,500 per year.
The building has already been inspected for HMO purposes however to obtain a HMO licence this would cost circa £600-£700 for the purchaser.
- Fully Refurbished
- Gross Rental Yield – 14%
- Expected Rent – £2500 pcm
- HMO Compliant