We have been presented an off-market deal in Lowesoft NR33 and the numbers are incredible for the right investor. It requires a 4-week completion so only cash buyers will be considered.

The property comprises of 10 or 11 bed all-ensuite HMO (8/9 x double bedrooms with ensuite and 2 x 1-bedroom flats).

It also features:
- 1x Office
- 1x Lounge
- 1x Kitchen
- 2.5m fire/sound/moisture resistant + normal plasterboards onsite - approx. QTY 350

Certificate of Lawfulness has already been granted, and work has already commenced. Material is still on site that can be used (plasterboard, insulation)

Here is a snapshot of the numbers:
▪ Finance type: Cash in & Finance out
▪ Market value: £450,000 (as per valuation report)

▪ Purchase price: £420,000
▪ Refurb costs: £203,000
▪ GDV: £825,000 (as per valuation report)
▪ Annual profit: £23,104
▪ ROCE: 39%
▪ Gross yield: 10%

▪ Cash required: £677,500 (all in inc SDLT, legals etc)
▪ Money left in: £53,750
▪ Annual gross rent: £79,200
▪ Monthly net cashflow: £1,925
▪ Sourcing fee: £20,000
▪ SDLT: £29,500 however SPV is available to purchase to reduce the SDLT payable.
▪ ROI: 43%

Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.