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Recently Refurbished 4-Bed HMO in Gainsborough Generating £20,019.72 PA

For sale: £155,000.00|House, Mixed Use, Other, Residential, Other Property Types & Opportunities

Property details

FOR SALE£155,000.00
ADDRESS19 Darwin Street, Gainsborough, Lincolnshire, DN21 1DL
TYPEHouse, Mixed Use, Other, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON10th August 2021

Description

The Property Advantage is pleased to present this 4 bedroom, 2 bathroom HMO in Gainsborough. This is a Victorian terraced property, it has had a back to brick refurbishment, which was completed in July 2021 by a very experienced developer. Hence, the property has been finished to a high standard and has already been fully tenanted until 09/01/2022. The Gross Income is £20,019.72 per annum and the Gross Yield is 12.9%.

Situated on a quiet residential street in Gainsborough. Gainsborough is home to numerous large construction companies and another huge employer in the area is Amazon with a local site nearby. The property is ideally located for tenants, it is close by to local amenities, with the local Aldi store within 0.2 miles (5-minute walk). Transport links are also easily accessible and Gainsborough Lea Road train station is 0.3 miles away (7-minute walk).

Income;

Room 1 - £411.66 / Room 2 - £433.33 / Room 3 - £411.66 / Room 4 - £411.66

Total; £1,668.31 PCM / £20,019.72 PA

Expenditure;

Gas - £50 / Electric - £50 / Water - £24 / Council Tax - £106.49 /

TV License - £13.25 / Broadband - £23 / Cleaner - £35 / Management (Inc VAT) - £200.20

Total; £501.94 PCM / £,023.25 PA

Gross Yield: 12.90%

Buyer Fee: 2.00% + VAT

Location

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Location: 19 Darwin Street, Gainsborough, Lincolnshire, DN21 1DL

Gainsborough Lea Road (0.3 miles)

Gainsborough Central (0.6 miles)

Retford (8.9 miles)

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