HMO Property Investment in Oldham
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Four bedroom HMO investment property in Oldham, Greater Manchester
Fully managed HMO investment in Oldham, Greater Manchester yielding an 8% net return.
The property will be refurbished into a four bedroom house, with one bedroom having an en-suite. The property will also have a kitchen area and a separate shower room on the first floor.
The property is situated a few minutes' walk from local amenities and less than one mile from Oldham Mumps tram station. Its location makes it ideal for those who work in Oldham as well as those who travel further afield.
Key Figures
£187,619Starting Price
8%Net Yield
Q3 2021Completion Date
Investment Details
Oldham is a large town in Greater Manchester, situated around 6.9 miles from the city of Manchester. It was one of the first industrialised towns and an important centre for cotton and texture production. The town is still characterised by its distinct cotton mills and other industrial buildings.
Since the deindustrialisation of Oldham, its economy has been replaced by low wage and low skill sectors. Many skilled professionals choose to commute ton Manchester for work and live in Oldham to save on accommodation costs. Average rent per calendar month in Manchester is £1,140 vs £598 in Oldham.
The arrival of the Metrolink in 2014 has made the commute between Oldham and Manchester even easier. Average journey times into Manchester city centre stand at 32 minutes via tram making Oldham an ideal commuter town for those working in Manchester.
This HMO investment in Oldham can accommodate those who work in both Oldham and Manchester. The property will comprise four bedrooms (one ensuite), a kitchen and a shower room. The property will be fully managed by an experienced lettings company, making this a hands-off investment.
The property is situated around a few minutes' walk from local amenities and less than a mile from Oldham Mumps tram stop, making it well placed for those working in Oldham or further afield.
The Numbers
Ground Rent:0
Number of Units:1
Service Charge:
Prices:187619.50
Leasehold:Freehold
Bedrooms furnished with:
- Double bed and mattress
- Side table
- Table lamp
- Computer desk
- Chair
- Chest of drawers
- Fully sized mirror
- Blind
- Radiator
Kitchen and dining area:
- Four ring hob and oven
- Dining table with four chairs
- Microwave
- Kettle
- Toaster
- Vacuum cleaner
-Reservation deposit £3,000
__Acquisition Costs __
- Deposit (Subject to LTV) £68,631.21
- Stamp Duty £6,150.00
- Solicitors Fees £1,500.00
- Brokers Fees £750.00
- Lenders Fees £999.00
- Total £78,030.21
Mortgage subject to status.
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