Long Ridings, Basildon

SIX-BEDROOM HMO INVESTMENT * FULLY LET * £51,660 GROSS ANNUAL INCOME * APPROX. 14.76%15.89% GROSS YIELD

An excellent opportunity to acquire a six-bedroom property in Long Ridings, Basildon, currently operating as a fully licensed House in Multiple Occupation (HMO). Offered for sale as an established investment, the property is fully let across all six bedrooms and currently produces a gross rental income of £51,660 per annum (£4,305 per month).
Based on the current rental income and guide price of £325,000£350,000, this represents an approximate gross yield of 14.76%15.89%, making it an attractive proposition for investors seeking an established property with income already in place.

The accommodation is arranged over three floors and comprises a communal kitchen/diner together with six individual bedrooms. Five of the bedrooms benefit from their own en-suite facilities, with the remaining bedroom having use of a separate communal bathroom. The bedrooms also benefit from kitchenettes, providing additional convenience for occupants.

Externally, the property offers a spacious rear garden with additional storage. Further benefits include gas central heating and double glazing.

Due to the property's current occupancy and the need to coordinate access with tenants, internal viewings will need to be arranged in advance. Prospective purchasers may therefore be asked to provide evidence of their financial position and agree a purchase price in principle before a full internal viewing can be accommodated.

PLEASE NOTE: The property is of non-standard concrete construction, which may restrict the availability of mortgage finance. Prospective purchasers are strongly advised to investigate mortgage availability and suitability with their lender or financial adviser before proceeding.

Guide price £325,000 - £350,000
Gross yield: approximately 14.76%15.89%

Please contact Gower Dawes for further details .

Important Notice and Disclaimer

Prospective purchasers are advised to take note of the following:
- Contractual Status: These particulars do not constitute, nor are they intended to constitute, part or all of an offer or contract.
- Measurements and Accuracy: The measurements indicated are supplied for guidance only and, as such, must be considered incorrect. Buyers are therefore strongly advised to recheck all property measurements before committing to any related expenditure (such as flooring or custom furniture).
- Condition of Services: Gower Dawes has not tested any apparatus, equipment, fixtures, fittings, or services. It is the buyer's sole responsibility to satisfy themselves as to the working condition and safety of any appliances or systems.
- Legal Verification: The purchaser must instruct their solicitor to verify the legal title of the property and all associated deeds and conveyancing information.

Financial Services Disclosure
Please be advised that Gower Dawes may recommend the services of third parties, including mortgage brokers, solicitors, and removal companies. We may receive a commission or referral fee should you choose to use their services. This referral fee will not affect the amount you pay for the service.

Buyer Compliance & AML Requirements

At Gower Dawes, we take our legal obligations seriously. To ensure a safe and secure environment for both buyers and sellers, all successful purchasers are required to undergo a formal Anti-Money Laundering (AML) check.
Upon the acceptance of an offer, a compliance fee of £50 (inc. VAT) per buyer will be charged. This fee covers:
- Electronic identity verification.
- Sanction and PEP (Politically Exposed Person) screening.
- The administration of high-standard due diligence.

The verification must be completed before a Memorandum of Sale can be issued.

Communal kitchen 5.78m (19' 0") x 2.35m (7' 9")
Ground floor - bedroom 1 4.94m (16' 2") x 2.31m (7' 7")
Communal bathroom 1.33m (4' 4") x 1.39m (4' 7")
Ground floor - bedroom 2 5.21m (17' 1") x 2.45m (8' 0")
First floor - bedroom 3 2.99m (9' 10") x 5.00m (16' 5")
Ensuite to bedroom 3
First floor - bedroom 4 4.92m (16' 2") x 2.35m (7' 9")
Ensuite to bedroom 4 2.46m (8' 1") x 3.03m (9' 11")
Second floor - Bedroom 5 3.00m (9' 10") x 4.77m (15' 8")
Ensuite to bedroom 5 1.93m (6' 4") x 1.38m (4' 6")
Second floor - Bedroom 6 4.22m (13' 10") x 2.37m (7' 9")
Ensuite to bedroom 6 2.39m (7' 10") x 2.74m (9' 0")