7 Bed, licensed Sui Generis HMO – Accrington

Purchase & refurbishment costs

Purchase price
Refurbishment cost
Solicitor's fees
TOTAL

Cashflow

Property valuation£170,000
Mortgage loan @80% LTV£127,500
Mortgage payment (interest only/PCM)£425
Rent (PCM)£2,750
Lettings management - 12% (PCM)£358
Operating expenses£550
CASHFLOW (PCM)£1,418

ROI & Yield

Money left in£40,350
Cashflow (PA) £17,010
Return on investment (PA)42%
Gross Yield19.4%

40-42 Nuttall Street

 

This property was fully renovated 2-3 years ago, converted from a large house into this HMO. Renovations included; full re-wire, mains water increased with a wider pipe, new central heating and hot water unvented system installed. this property was purchased with a business partner as an already performing asset. Not our normal strategy but the return on investment met our investment criteria. It is a 7 bedroom (3 ensuite) HMO, close to Accrington town centre with a variety of priced room options for varying budgets.

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