HMO Property Investment in Redcar
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Shared accommodation investment in the North Yorkshire town of Redcar
13-bedroom HMO property investment in the North Yorkshire town of Redcar. The property already has an HMO licence and once fully occupied, yields of 11% + can be expected.
Key Figures
£450,000Starting Price
11%Net Yield
Q4 2020Completion Date
Investment Details
The property has been recently refurbished and is being let out as a 13-bedroom HMO (also known as shared housing or shared accommodation). Each room rents out at £320 pcm and ten rooms are currently let as fresh tenancies have been signed. The other three rooms will be rented out within a week of a new buyer being found for the property. There is already an appropriate HMO licence in place and once fully occupied, yields of 11% + can be expected.
Redcar North Yorkshire HMO Property Investment Highlights
- Purchase price £450,000
- 13-bedroom property
- Projected 11% yield
- 10 rooms already let
- Rent at 100% occupancy for £49,920 p/a
- HMO licence secured
What is an HMO property?
HMOs (or houses in multiple occupation) are properties which are shared by at least three tenants who are not from a single household or members of the same family. HMOs are otherwise known as shared housing and are commonplace in cities such as London due to high property prices.
According to LendInvest, these types of investments are becoming more popular with landlords in a bid to safeguard income in adverse market conditions. These types of properties usually generate higher yields from multiple tenants, so losing income from one or two tenants is not as damaging as it would be from a single let property.
Contact One Touch Property today to learn more about this HMO property investment in Redcar.
The Numbers
Ground Rent:
Number of Units:
Service Charge:
Prices:£450,000
Leasehold:
- 13-bedroom HMO
- HMO licence in place
Purchase price £450,000
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