3 bedroom terraced house for saleWolfa Street, Derby
Withdrawn from Market £110,000
- OPPORTUNITY TO EXPAND
- THREE LETABLE ROOMS
- UTILITY ROOM
Martin&Co have a large three bedroom House in Multiple Occupation (HMO) for sale.
The property consists of three double bedrooms. The furniture is to be included in the sale of the property (beds, wardrobes, chest of drawers), as well as all kitchen appliances and sofa in the communal area. The tenants rent is all inclusive of all bills, and the current owner is responsible for gas, electric, water, council tax, WiFi and a communal cleaner.
Current Gross Rent: £990
Approximate billing cost of £300 per month
Management Fee: £99
Monthly Profit: £591 (Cash Purchase)
Annual Profit: £7,092
There is scope for higher rents on the rooms subject to a light refurbishment on the property. There is also scope to convert the property into four bedrooms to incorporate one en-suite bathroom and the other three bedrooms sharing one bathroom. The rough cost of this conversion would be £20,000 (we can provide a more accurate quote should you wish to look into this as an option). This has the potential to increase monthly profit up to £900+ as a cash purchase.
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