This property is currently a 6 bedroom HMO detached house over 3 floors with HMO license. Annual gross rental income of 35,620pa. It is located in a popular area in Bournemouth, currently 100% occupied with working professionals. One off road parking space (first come first serve basis) and ample on road parking. Rear garden and patio area.
The property in need of modernisation throughout, however, not essential. Has recently had planning for a slight restructure/floor plan adjustment.
6 Bedroom licensed HMO, consisting of 5 rooms and 1 studio.
Gas Central Heating
In need of modernisation
Current Cash Gross Yield: 9%
Potential Leverage Gross Yield: Circa 24.1% (based on 75% LTV@ 4%)
Situated in Winton, Bournemouth. Close to local amenities and travel links
Currently 100% occupied with annual gross rental income of 35,620.
Council Tax Bill: 130 pm
Electric Bill: 100 pm
Gas Bill: 120 pm (averaged over 12 months)
Water Bill: 100 pm
Internet Bill: 35 pm
Minimum outgoings pm: 485 pm
Net Profit: 29,800 pa
Entrance: Open porch entrance to property with double glazed door into ground floor hallway. Doors leading to room 1 and 2, and kitchen.
Room 1: Double bedroom with double glazed windows to rear and side aspect. En-suite shower room. Shower cubical, toilet and basin, with double glazed window to side aspect.
Double bedroom with, double glazed windows to front aspect. Double glazed patio doors onto rear patio.
Kitchen: Range of base and wall units, double glazed window to side aspect.
Room 2: Double bedroom with, double glazed bay window to front aspect.
Room 3: Double bedroom with, double glazed windows to rear aspect.
Bathroom: Spacious bathroom with corner suite bath, shower cubicle, toilet and basin. Double glazed window to side aspect.
Room 4: Double bedroom with, double glazed window to side aspect.
Room 5: Double bedroom with, double glazed bay window to front aspect.
Communal Room/Dining Room: Single room with double glazed window to front aspect.
Studio: Double bedroom with window to side aspect. Kitchen with window to front aspect, range of wall and base units. Bathroom with window to rear aspect, shower cubical, toilet and basin.
Rear Garden: Patio area, then path leading to grass area.