ROI: 28.9% (ROI based on Net Rent @ 0.70% of gross / 25%PP + Refurb)
This property is located within the Meadows Nottingham (NG2). This area has seen some of the fastest growth in Nottingham over the past few years. This is due to the ripple effect caused by the estate lying between West Bridgford and the City Centre.
The property was built circa 1900. It has 6 let able rooms over 3 stories and is a mid terrace, the property has established use as a HMO since before 2007, but had not been let since September 2014.
This deal was sourced privately through a friend, the vendor had bad tenants who left in September 2014, since then the property had remained unoccupied as the vendor couldn’t afford to put the issues the previous tenants had caused right.
We have developed the property into a high end, luxury HMO aimed specifically at professional tenants. The rents range from £75PRPW through to £110 PRPW with an en suite. The house is fully furnished and fitted with fibre optic broadband.
All bills are included within the rental costs.