R2RSA in York

Sourced are pleased to present another fantastic opportunity to take on a 2-bed flat for R2RSA in York City Centre. The unit benefit from 2 double bedrooms, a spacious open-plan living, kitchen and dining area as well as a stunning terrace. The property is in a fantastic location, just moments away from the Minster, Shambles Market and various other amenities.

The unit will comfortably be able to sleep up to 6 guests. The total rent payable for the unit is £1,625 which does not include bills. The financial figures provided also allow for management costs and OTAs and the profit is net after all costs.

The unit is available on a 3-year contract. This property will be fully managed by our managing agent, making it as hands-off as possible for you. We'll also get you set up on our online platform so you have full visibility of bookings/revenue. The management fee is 14% + VAT of net revenue. This includes full management covering everything from check-ins, check-outs, cleaning and maintenance.

You can pay for the furniture in cash which will be £6,500 inc. VAT. Alternatively, you can utilise a different form of funding you have access to such as a credit card, bank loan or asset finance.

Pictures, location details and a detailed financial breakdown are available on request.

Sourcing fee of £4,000 applies.

The Financials
▪ Rent: £1,625
▪ Ongoing monthly costs (including approx. bills): £417
▪ Average nightly rate: £232
▪ Revenue at 70% occupancy: £4,940
▪ Revenue at 85% occupancy: £5,999

▪ Deposit: £1,625
▪ Sourcing fee: £4,000
▪ Furniture: £6,500
▪ Total Upfront Cash Required: £12,125

▪ Monthly profit at 70%: £1,525
▪ Annual profit at 70%: £18,304
▪ Profit over 3 years at 70% (assuming no increase in nightly rates): £54,912

▪ Monthly profit at 85%: £2,290
▪ Annual profit at 85%: £27,477
▪ Profit over 3 years at 85% (assuming no increase in nightly rates): £82,431

▪ ROCE over 1 year at 70%: 151%
▪ ROCE over 3 years at 70% (assuming no increase in nightly rates): 453%
▪ Months till profit: 8