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5-Bed HMO in Basildon, Essex Generating £42,000 PA

For sale: £360,000.00|Other, Other Property Types & Opportunities

Property details

FOR SALE£360,000.00
ADDRESS141 Clayburn Circle, Basildon, Essex, SS14 1PX
TYPEOther, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON4th January 2022

Description

he Property Advantage is pleased to present this exciting investment opportunity! This is a 5 bedroom HMO in Basildon, Essex. The property comprises a well-equipped, galley-style kitchen which leads through to a sizeable conservatory with double doors onto the garden area. in total there are 5 sizeable bedrooms spread across two floors. There is 1 main bathroom and 1 further WC to service all bedrooms. In addition, there is parking for two vehicles and ample room for more on-street parking.

The property is fully furnished and is fully tenanted. The property is set up by the vendor with the local council and is utilised for social housing. Please note all payments are made directly to the landlord so a guaranteed monthly income. The Gross Income is £42,000 per annum and the Gross yield is 11.66%.

Located in residential cul-de-sac in Basildon, the property is ideally located for tenants within 1.1 miles of the town centre. Transport links from the property are just a short walk away, within 0.3 miles (6 minute walk) and Basildon train station is 1.1 miles away (22 minute walk). Local amenities are nearby, within 0.8 miles, where there is a large Asda supermarket.

Income;
Room 1 - £700 / Room 2 - £700 / Room 3 - £700 /
Room 4 - £700 / Room 5 - £700
Total; £3,500 PCM / £42,000 PA

Expenditure;
Gas - £40 / Electric - £40 / Water - £33 / Council Tax - £141 /
Broadband - £32.40 / Management - £437.50
Total; £723.90 PCM / £8,686.80 PA

Gross Yield: 11.66%
Buyer Fee: 2.00% + VAT

Location

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Location: 141 Clayburn Circle, Basildon, Essex, SS14 1PX

Upminster (9.7 miles)

Basildon (0.8 miles)

Pitsea (1.6 miles)

Laindon (2.2 miles)

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