Detached house for sale in Stonehill Road, New Normanton, Derby DE23

Large HMO Investment Opportunity
Substantial Period Residence of over 2500 Sq.Ft, with historic HMO usage
Property will be sold with vacant possession due to nature of current occupancy
Chain Free
Anticipated Rent of c. £51-56k pa for a gross yield of 12%

FHP Living are delighted to offer this substantial HMO Investment Opportunity In Derby. The property is located around 2 miles from the University of Derby Campus & 1 mile from the City Centre making the property suitable for a number of uses, with working professionals, Student or Social Housing all a suitable uses

The property is a large period home currently used by a local charity with 9 lettable bedrooms, sharing 3 showers and a further WC. There are 2 kitchens with open plan reception rooms attached to them, a further set of offices, a utility room and further storage.

The property will be sold with vacant possession due to the nature of the current owners and occupiers and could benefit from works to produce further uplift.

Our view is that each room should receive a rent of between £500 - £550 per month inclusive of bills and taking an assumption of 11.5 months occupancy per annum, the annual rent should be between £51,750 and £56,925 per annum.

Asking Price - £400,000

Erv - £51,750 - £56,925 pa inc bills