Detached house for sale in Stonehill Road, New Normanton, Derby DE23
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Property features
- Substantial Period HMO Investment
- 9 Bedrooms and 3 Shower Rooms
- 2 Kitchens and reception rooms
- Extra Utility, Storage and Office spaces
- To be sold with Vacant Possession
- Anticipated rent of between £50,000 / £55,000 per annum
- Expected Gross yield of 12%
- Chain Free
- Growth Potential
Property description
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
Anticipated Gross Yield -12%
Council Tax Band D
Local Authority -Derby
Property info
For more information about this property, please contact
FHP Living, NG1 on +44 115 774 8837 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by FHP Living, and do not constitute property particulars. Please contact FHP Living for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.