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Agent's details

6-Bed All En-Suite HMO Located in Crawley, Generating £49,020 PA

For sale: £655,000.00|Mixed Use, Other, Other Property Types & Opportunities

Property details

FOR SALE£655,000.00
ADDRESS10 Kites Close, Crawley, West Sussex, RH11 7DP
TYPEMixed Use, Other, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th October 2021

Description

Fantastic investment opportunity! This is a newly converted, premium HMO, completed in June 2020. There is an established managing agent in situ, so it is extremely well-maintained and well-run. The property is set back from the road in a lovely quiet cul-de-sac looking out onto the large green square. It provides a modern style of living with an open-plan-style kitchen/ living area; the kitchen is fully fitted with bespoke fixtures and fittings. The property comprises of 6 double bedrooms, all en-suite. There is a large garden with a further outbuilding currently used for storage and an additional WC.

The property currently has high-quality tenants living in-situ and is fully occupied with excellent historical occupancy. The Gross Income is £49,020 per annum and the Gross Yield is 7.48%.

Located in Crawley, conveniently located between London and Brighton with easy access to M23 and M25. Crawley is a popular area for tenants with multiple strong employers in the area, with several large companies' HQs based there such as Deloitte, Virgin Atlantic, Nestle UK and EDF Energy. It is also home to Gatwick airport, the UK's second-largest airport. It benefits from the local town facilities, being within 0.2 miles (4-minute walk) from Crawley Hospital and other amenities are within 0.4 miles. Transport links are ideal with multiple bus stops within 0.1 miles of the property. Local railway stations include Crawley (0.7 miles away) and Ifield (1.2 miles away), and Thameslink services provides travel links into London Bridge in just 35 minutes from Three Bridges station.

Income;
Room 1 - £650 / Room 2 - £685 / Room 3 - £700 /
Room 4 - £700 / Room 5 - £650 / Room 6 - £700
Total; £4,085 PCM / £49,020 PA

Expenditure;
Gas - £96.48 / Electric - £27.45 / Water - £26 /
Council Tax - £172 / TV License - £13.20 / Broadband - £56.39 / Cleaner - £51 / Management - £612.75
Total; £1,055.27 PCM / £12,663.24 PA

Gross Yield: 7.48%
Buyer Fee: 2.00% + VAT

Location

marker
Location: 10 Kites Close, Crawley, West Sussex, RH11 7DP

Crawley (0.4 miles)

Ifield (0.9 miles)

Three Bridges (1.4 miles)

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