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Derby - Freehold 6-Bed HMO Investment

For sale: £545,000.00|1,403 Sq Ft|House, Residential

Property details

FOR SALE£545,000.00
SIZE1,403 Sq Ft
ADDRESS1 Livingstone Road, Derby, Derbyshire, DE23 6PR
TYPEHouse, Residential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON19th February 2024

Description

Investment Consideration:
Gross Initial Yield: 8.92%
Rental Income: £48,600 p.a.
VAT is NOT applicable to this property
Comprises 6-bedroom terraced HMO (all rooms are studios with en-suite and kitchenettes)
Situated within 10 min walk from Post Office, B&M Store, Iceland, Gym, Tennis Courts and many more.

Property Description:
Comprises three-storey 6-Bedroom HMO. Each room is arranged as a studio with double bed, en-suite and kitchenette, providing the following accommodation and dimensions:
Ground Floor:
Studio 1 - 17.2 sq m (185 sq ft)
Studio 2 - 18.7 sq m (201 sq ft)
Communal Lounge/Kitchen - 13.5 sq m (145 sq ft)
First Floor:
Studio 3 - 18.7 sq m (201 sq ft)
Studio 4 - 17.3 sq m (186 sq ft)
Studio 5 - 18.9 sq m (203 sq ft)
Second Floor:
Studio 6 - 12.7 sq m (137 sq ft)
Communal Lounge/Kitchen - 13.5 sq m (145 sq ft)
Total GIA: 130.5 sq m (1,403 sq ft)

Tenancy:
Studio 1 is at present let on AST to an Individual for a term of 6 Months from 14th March 2022 (holding over) at a current rent of £7,200 p.a. Deposit held of £100.
Studio 2 is at present let on AST to an Individual for a term of 6 Months from 13th August 2021 (holding over) at a current rent of £7,800 p.a. Deposit held of £100.
Studio 3 is at present let on AST to an Individual for a term of 6 Months from 2nd August 2023 (holding over) at a current rent of £8,400 p.a. Deposit held of £200.
Studio 4 is at present let on AST to an Individual for a term of 6 Months from 7th October 2023 at a current rent of £7,800 p.a. Deposit held of £200.
Studio 5 is at present let on AST to an Individual for a term of 6 Months from 7th June 2023 (holding over) at a current rent of £8,400 p.a. Deposit held of £200.
Studio 6 is at present let on AST to an Individual for a term of 6 Months from 3rd October 2022 (holding over) at a current rent of £9,000 p.a. Deposit held of £200.

Location:
Normanton is an inner-city suburb and ward of the city of Derby in Derbyshire, England, situated approximately 2 miles (3.2 km) south of the city centre. Neighbouring suburbs include Littleover, Pear Tree, Rose Hill and Sunny Hill. The property is situated in predominantly residential area within 10 min walk from Post Office, B&M Store, Iceland, Gym, Tennis Courts and many more.

Location

marker
Location: 1 Livingstone Road, Derby, Derbyshire, DE23 6PR

Peartree (1.2 miles)

Derby (1.3 miles)

Spondon (3.5 miles)

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