What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
Profit pa£17,800
ROCE19%
Yield10%
Purchase £ £92,550
Property description
Strategy: HMO
"Discreet Sale - 5-Bed Off-Market HMO in Northampton"
This off-market 5-bedroom HMO is secured at £335,000. It is fully tenanted (Students) and fully licensed, in fact it is currently licensed as a 6-bedroom HMO. It is within an article 4 area and so represents a fantastic opportunity to pick up a ready made HMO business opportunity. This property can be purchased under its current SPV and therefore removes the SDLT (if the buyer wishes).
This property is ideally situated as follows:
- 1 mile (5-10min) walk from the train station
- Less than 1mile from the city centre within a 3 mile radius of 3 hospitals
Making it a flexible option as an HMO for student lets and professional co-living. The property does not need renovating, but could be if the buyer wishes to. Most of the rooms are ensuite, only 1 room isn't, but it has the use of a bathroom, which can be allocated to that tenant only.
This is a discreet listing, the owner is happy to share further details, once any investor interest is established. The vendor is also happy to share 5 years of income, the property has always attracted lots of interest and has been fully tenanted throughout the tenure of the current owner. This is not a distressed sale.
The financials (Mortgage):
▪ Purchase price: £335,000
▪ Annual profit: £17,800
▪ ROCE: 19%
▪ Yield: 10%
▪ Purchase costs : £92,550 (Assumes no SDLT as purchased as SPV)
▪ Renovation costs: £0
▪ Gross rental return: £35,000 pa; £2916 pcm
▪ Estimated mortgage costs : £1,432 (based on a 75% LTV, 4.75% HMO mortgage rate)
- Investors are advised to do their own DD
- Mortgage rates are dependant on the deal an investor can source and the terms they want to accept
- The illustrated rate of 4.75% is from internet research on 5-year deal for an HMO mortgage
Please contact me if you have any questions, or if interested.
Sourced reference: 584681315688412
Due diligence
Investors are encouraged to do their own Due Diligence
Viewings are recommended
Rental figures can be shared
Location
Disclaimer
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.
Key financials
Profit pa£17,800
ROCE19%
Yield10%
Purchase £ £92,550
Sales Agent
Keith Smith
Summit Propertysmiths Ltd
Smart support to move your deal forward
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What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network