4 bed terraced house for sale

Glenmore Street, Southend-On-Sea SS2

• Convenient location for Southend East station and local amenities
Full Description
Ocean Residential is pleased to offer this freehold HMO investment opportunity, conveniently positioned within easy reach of Southend East railway station, Southend city centre and a wide selection of local amenities.
The property is currently undergoing improvement and reconfiguration works, which will reduce the existing six-bedroom layout to a more spacious and practical four-bedroom HMO.
As part of the planned works, one of the existing ground-floor bedrooms will be removed and incorporated into the kitchen, creating a substantially larger communal kitchen and dining area. An upstairs bedroom will also be converted into a dedicated communal seating room, providing occupants with valuable shared living space.
A draft HMO licence has been obtained. The owners intend to obtain the completed licence following completion of the required renovation works, subject to the relevant local authority requirements and final approval.
The property currently has two occupants and produces a combined rental income of £1,550 per calendar month.
Rental Schedule
Room Occupancy Monthly rent
Room 1 Vacant £775 pcm
Room 2 Vacant £699 pcm
Room 3 Occupied £825 pcm
Room 4 Occupied £725 pcm
Total potential income Fully occupied £3,024 pcm
At full occupancy, the property could produce a potential gross rental income of approximately £36,288 per annum, equivalent to a potential gross yield of approximately 9% based on the £400,000 asking price.
Current utility bills are approximately £350 per month. Buyers should make their own enquiries regarding all operating costs, compliance requirements, licensing and achievable rental figures.
Once completed, the property will provide four letting rooms, an enlarged communal kitchen and dining area, a separate communal lounge and a private rear garden.
This is an attractive opportunity for an HMO landlord or investor seeking a freehold income-producing property with established occupants and further rental potential. Early viewing is recommended to appreciate the accommodation, location and proposed finished layout.
All projected income and yield figures are provided as a guide only. The completed HMO licence remains subject to the required works, inspection and local authority approval.