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6-Bed 6-Bathroom HMO in Gillingham, Kent Generating £43,140 PA

For sale: £450,000.00|House, Mixed Use, Other, Residential, Other Property Types & Opportunities

Property details

FOR SALE£450,000.00
ADDRESS44 Priestfield Road, Gillingham, Kent, ME7 4RF
TYPEHouse, Mixed Use, Other, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON11th August 2021

Description

The Property Advantage is delighted to be presenting this high-quality 6 bedroom, all en-suite HMO in Gillingham. It has been brand newly refurbished to a high spec and recently completed in May 2021. In addition, the property compromises two communal kitchens, the first is located on the ground floor and the second on the first floor, and a storeroom in the basement.

This is a fully licensed and compliant HMO and is fully tenanted with working professionals. The Gross Income is £43,140 per annum and the Gross Yield is 9.59%.

Location Location Location. Situated in Gillingham, Kent the property benefits from a town centre location. Gillingham train station is within an 8-minute walk (0.4 miles) and is a popular location for commuting to central London with direct trains into London St Pancreas in 45 minutes and, London Victoria in 51 minutes. The property is also ideally located to local amenities which are a stone's throw away, the Sainsbury's local is within a 3-minute walk (0.1 miles away) and the local Aldi is an 8-minute walk away (0.4 miles).

Income;

Room 1 - £610 / Room 2 - £600 / Room 3 - £585 /

Room 4 - £610 / Room 5 - £590 / Room 6 - £600

Total; £3595 PCM / £43,140 PA

Expenditure;

Gas - £70 / Electric - £70 / Water - £58 /

Council Tax - £119.92 / TV License - £14.30 /

Broadband - £44 / Cleaner - £80 / Management - £430

Total; £886.22 PCM / £10,634.64 PA

Gross Yield: 9.59%

Buyer Fee: 2.00% + VAT

Location

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Location: 44 Priestfield Road, Gillingham, Kent, ME7 4RF

Gillingham (Kent) (0.3 miles)

Chatham (1.7 miles)

Halling (2.0 miles)

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