Property for sale Sheffield, United Kingdom
Prices from GBP £335,000
Ref: 114-779-49
6 Bedroom(s), 1 Bathroom(s) |
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Buy To Let HMO Investment Opportunity
Investors can purchase refurbished houses near Sheffield University.
Rare opportunity to own a income generating HMO Buy To Let Property refurbished by specialist property developer .
This is an opportunity to buy newly refurbished HMO Buy To Let Properties in Sheffield that has been built to superior standards. Mortgage deal , property management and maintenance all sorted out you just need to put your deposit down.
Approximately 10 – 12 houses are completed monthly. The average time of a complete refurbishment is approximately 6 - 8 weeks.
Certificates issued with each house:
All houses require the following certificates:
gas
electricity
cellar tanking (guaranteed for 30 years)
and an HMO (high multiple occupancy) certificate which has a life of 3 years and to renew costs approximately £500 +VAT.
HMO requirements include a minimum on cupboard space, a minimum of two bathrooms and three toilets. Minimum room size for HMO requirements is 6.5 sq.m.. Fire alarms are hard-wired i.e. no battery-operated alarms are fitted.
Management Fees:
The developer has a rental management agent where the fee is 10%.
Maintenance:
On any maintenance to be done, the developer will only charge for whatever needs to be replaced and there will be no labour charges levied. This will be for the life of ownership.
Rental Agreements:
Tenants are jointly and severally responsible for the payment of the rent of all rooms which are rented out in the house. Parents or guardians of the students sign as guarantor.
Sheffield University admits 44,000 new students each year. The university uses our developer as one of their preferred contacts for student accommodation from the over-spill of their residential halls which have a capacity of 15,000 students.
Mortgages:
Mortgages are on a two-year fixed term.
The developer guarantees the payment of the mortgage for the first three months.
Typical Illustrated Figures
Price for 6 Bedroom HMO in Sheffield £335,000 mortgage value £284750 15% deposit paid by developer, your outlay £25000 covering stamp duty HMO fees and furniture pack . Estimated mortgage payments £1219.68 (5.14% fixed 3 years). Monthly Rental income per tenant £1690.00. Positive cash flow £470.32 per month.
Make an enquiry and we will send you more information.
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