Sourced Approved Investment

HMO Opportunity - Matlock East Midlands - House

£ 220,000

Added: 21/11/2024

Profit pa£10,350

ROCE40%

Yield7%

Property description

Strategy: HMO

Sourced is proud to present this great investment opportunity in Matlock - Prime HMO Conversion Potential

This property, located just outside the stunning Peak District in the picturesque tourist town of Matlock, offers a fantastic investment opportunity. With its proximity to the railway station—just a few meters away—providing direct connections to Derby , Birmingham, it’s perfectly situated to attract professional tenants

Highlights:
- Refurbishment potential: Builders have assessed the property, and build quotes have been obtained. The property is currently an 8-bedroom house. The financials have been calculated based on a 6-bed HMO model. Expanding to 7 or 8 bedrooms post-purchase can increase profitability further, subject to planning permission.
- Working with your own team or independent tradesmen could further reduce refurbishment costs.
- Strong demand for HMOs in this area. Similar house a few doors away is already an HMO.
- Ideal use: Suitable for HMO or serviced accommodation.

Why Matlock?
Matlock combines the charm of a tourist hotspot with excellent transport links, making it an attractive location for professional tenants or short-term visitors.

Don’t miss out on this excellent opportunity to secure a property with strong returns in a high-demand area!

The financials:
▪ Purchase price: £220,000
▪ GDV: £365,000
▪ Refurb costs: £75,000
▪ Purchase costs: £18,200
▪ Profit on sale: £41,000 (11% profit margin)
▪ ROCE: 24%

▪ Negotiated purchase price: £220,000 (£20K below asking price)

Rental:
▪ Yield: 11% as 6 Bed with monthly net of £850, 15% as 8 Bed with monthly net of £1800.

▪ Sourcing fee: £4,000 + VAT

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Sourced reference: 675363165534813

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.

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Due diligence

No information supplied.

Sales Agent

Mr Sajith Koya

Grand Vista Properties Ltd

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