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AGENT'S DETAILS


Renovated 6-Bed HMO in Birmingham

For sale: £375,000.00|House, Other, Residential, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALE£375,000.00
ADDRESS162, Church Road, Yardley, Birmingham, West Midlands, B25 8UT
TYPEHouse, Other, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON22nd February 2021

DESCRIPTION

Fresh to the market, this 6-bed, 6 en-suite HMO which was refurbished to a high standard back in Nov 2020. The property is in a prime Birmingham market and has enjoyed good occupancy thanks to quality accommodation and local amenities and a good local HMO managing agent.

Generating an income of between £32,000 - £34,000 the property offers a gross yield of up to 9% and the letting agent expects the rental to be strong in 2021 now that the rental market has settled down again post-Covid.

With an extensive refurbishment schedule which included a back-to-brick renovation, rewire, new heating system, kitchen, bathrooms and decoration, the property is in excellent condition and an ideal hands-off investment, utilising the current managing agent.

Room 1 - £395 (+£50) / Room 2 - £450 / Room 3 - £395 (+£50)

Room 4 - £495 / Room 5 - £400 (+£50) / Room 6 - £550

Total - £2,685 (£2,835)

(the figures in brackets denote the increase in rents that will be achieved as tenanted were offered reduced rates during the 2020 pandemic)

Costs - Gas £ 80.00 / Electric £ 80.00 / Water £ 80.00 / Council Tax £ 100.00

TV License £ - / Broadband £ 45.00 / Cleaner £ 50.00 / Management £ 275.00

Income
Room 1 - £395 (+£50) / Room 2 - £450 / Room 3 - £395 (+£50)

Room 4 - £495 / Room 5 - £400 (+£50) / Room 6 - £550

Total - £2,685 (£2,835)

(the figures in brackets denote the increase in rents that will be achieved as tenanted were offered reduced rates during the 2020 pandemic)

Costs - Gas £ 80.00 / Electric £ 80.00 / Water £ 80.00 / Council Tax £ 100.00

TV License £ - / Broadband £ 45.00 / Cleaner £ 50.00 / Management £ 275.00

Features
Six Bedrooms, Six Bathrooms

Fully Refurbished

Excellent Occupancy & Management In Place

Extensive Building Works Completed

Gross Income Rising to Over £34,000

2% + Vat Brokering Fee

LOCATION

Location: 162, Church Road, Yardley, Birmingham, West Midlands, B25 8UT

Stechford (1.2 miles)

Lea Hall (1.2 miles)

Acocks Green (1.3 miles)

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