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Agent's details

6-Bed HMO in Birmingham Generating £30,588 PA

For sale: £400,000.00

Property details

FOR SALE£400,000.00
ADDRESS29 Navigators Road, Birmingham, West Midlands, B27 6SX
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON6th August 2021

Description

The Property Advantage is pleased to present this fantastic investment opportunity to purchase this high-quality established HMO in Birmingham. This is a modern property, it is set over three floors, and is well laid out. At the heart of the property is a large kitchen/diner, a separate living area & a WC. Overall, the property comprises 6 double bedrooms and 4 bathrooms (2 of which are en-suite). In addition, there is a well-maintained large garden with a storage shed. To the rear of the property, there are also two parking spaces.

This is a very well-run HMO with quality tenants in situ. The property is fully occupied with good historical occupancy. Each room has bespoke fitted wardrobes and bedside tables. The Gross Income is £30,588 per annum and the Gross Yield is 7.65%.

The property is located in a quaint cul-de-sac with the property overlooking green parkland. Situated in an Article 4 area, this was implemented in June 2020. The property benefits from increasing rental demands and large employers in the area. It is centrally located in Acocks Green and is 0.8 miles from the centre. Nearby cities are both Birmingham and Solihull. The property benefits from its central location with local amenities within 0.5 miles of the local Aldi. The transport links from the property are exceptional, Acocks Green train station is within 0.5 miles of the property (11-minute walk) and there are multiple bus routes just a stone's throw away, with the closest being within 0.3 miles (5-minute walk away). There are also multiple motorway networks that are easily accessible including, M42, M40, M6 & M5.

Income;

Room 1 - £375 / Room 2 - £400 / Room 3 - £500 /

Room 4 - £375 / Room 5 - £400 / Room 6 - £499

Total; £2,549 PCM / £30,888 PA

Expenditure;

Gas - £112.98 / Electric - £68 / Water - £81.54 /

Council Tax - £178 / TV License - £11.87 / Broadband - £36.66 / Cleaner - £80 / Management - £33.67

Total; £602.72 PCM / £7,232.64 PA

Gross Yield: 7.65%

Buyer Fee: 2.00% + VAT

Location

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Location: 29 Navigators Road, Birmingham, West Midlands, B27 6SX

Acocks Green (0.4 miles)

Olton (0.8 miles)

Spring Road (1.1 miles)

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