£ 250,000
Added: 02/12/2024
Profit pa£34,230
ROCE50%
Yield13%
Strategy: HMO
"6-Bed HMO Project in Salford Manchester"
Located in Salford, this is a 6-bedroom HMO project with 50% ROCE per annum and 13% gross yield. As a growing area with high rental demands and a local university, this is a prime location for HMOs of this nature.
Financials:
▪ Purchase price: £247,000
▪ Purchase costs: £12,550
▪ Refurbi cost: £70,000 + 10% Contingency
▪ GDV: £392,000
▪ Profit once sold: £29,950
▪ Money left in deal post refinance: £68,000
▪ Rental revenue PCM: £4,200
▪ Rental revenue PA: £50,400
▪ Net rental profit PCM: £2,852
▪ Net rental profit PA: £34,230
Metrics:
▪ ROCE: 50%
▪ Gross yield: 13%
▪ Net yield: 9%
Please get in touch for further information.
Sourced reference: 811847184227637
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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