HMO INVESTMENT OPPORTUNITY l ANNUAL RENTAL INCOME £39,624 = 7.92% YIELD!!! l TENANCY SECURED 2022/2023 AT £127 PPPW l GUIDE PRICE £540,000 - £550,000 l TERRACED HOUSE l LET CONTINOUSLY SINCE HMO LICENCE OBTAINED IN 2013 l PRIME STUDENT LETTING AREA l 6 DOUBLE BEDROOMS l 2 SHOWER ROOMS l LARGE GARDEN
COAPT are DELIGHTED to offer the OPPORTUNITY to PURCHASE this FANTASTIC INVESTMENT property IDEALLY situated in a POPULAR central LOCATION, on Baden Road. This SPACIOUS 6-bedroom HMO is currently LET to students, with the current tenancy due to end in August 2022. A tenancy has also been secured for the following 2022/2023 academic year, TENANCY AGREEMENTS SIGNED AND REFERENCES COMPLETED, achieving an ANNUAL RENTAL INCOME of £39,624!!!
Baden Road is the PERFECT student LOCTION, IDEAL for the public commute to either Brighton or Sussex university. Situated between campus and the Brighton Town centre, this property is surrounded by local amenities, shops and travel links!
This property was acquired by the present landlords in 2012 and after FULL REFURBISHMENT, with new bathroom and fitted bedrooms, it proved an IMMEDIATE SUCCESS with student groups, for which it has operated as an annual let for more than 10 years, acquiring its FIRST licence in 2013.
It has the flexibility to offer an additional lounge and can then be let to five sharers for a higher pppw rent if preferred. The property also includes useful stores used by the present landlords for paint, furniture, and items required in routine properties maintenance.
The house is just 20 minutes walking distance to both the University of Brighton Moulsecoomb campus. There is a bus stop with real time services electronically signed just 50 metres away from the house. Lewes Road buses to University of Brighton and Sussex University’s Falmer campuses, together with shops and services at the Gyratory, are close, in an area popular with students.
Such houses are in short supply: no new licences are being granted in the Lewes Road area, without planning permission.
This brick-built Edwardian property was fully renovated by the present landlords on acquisition, with a new bathroom, a new boiler, considerable rewiring throughout and a new consumer unit, a refurbished kitchen, and has been well-maintained since. New stair carpets were fitted last summer.
As well as meeting all statutory requirements such as smoke alarms and fire doors, several further improvements have been made to suit student groups: stained and varnished floors throughout, built-in workstation in the dining area next to the kitchen. In 2016 an architect-designed loft conversion added a two more bedrooms and a second bathroom, with further upgrades to all rooms, such as vanity units.
The property presently offers its tenants: GFCH (Vokera Ecotec certificated annually), 2 fridge freezers, separate laundry with tumble drier (just renewed), and washing machine; a kitchen with electric oven, gas hob, dishwasher (just replaced) etc; two modern bathrooms with showers. Tenants are offered an optional inclusive package by the present managing agents, but broadband is tenants’ own responsibility. All 6 bedrooms are fully furnished with double beds, and fitted desk, shelves and clothes storage. The majority also have custom-made vanity units with basins.
This is a POPULAR house has never failed to LET - even throughout the pandemic! ARRANGE A VIEWING WITH COAPT NOW BEFORE YOU MISS OUT!!!
