6 bedroom terraced for sale

£350,000

6

Bedrooms

6

Bathrooms

Floorplan

SUMMARY '''Spanning an impressive 4 floors and boasting an approximate floor area of 2,467 sq. ft., this deceptively spacious HMO property presents a compelling investment opportunity for discerning landlords.'''
The property comprises of six spacious en-suite bedrooms along with a kitchen / diner and sitting room to the upper floors providing both private living space as well as communal areas for its residents.

LOCATION The Hoe, a beloved landmark in Plymouth, England, is a picturesque coastal park offering stunning views of Plymouth Sound. Enjoy panoramic vistas of the harbour, Drakes Island, and the Cornish coastline. Steeped in history, the Hoe is famous for the legend of Sir Francis Drake playing bowls while awaiting the Spanish Armada Relax on the grassy slopes, stroll along the waterfront promenade, or enjoy a picnic with family and friends. Admire Smeatons Tower, a historic lighthouse, and the Plymouth Naval Memorial. The Hoe hosts various events throughout the year, from concerts and festivals to firework displays

DESCRIPTION Potential generating a robust annual income of 36,500, this property demonstrates strong rental demand and a proven track record of profitability

Arranged over four floors, each of the six ensuite bedrooms have been thoughtfully designed with modern en-suite bathrooms, providing maximum privacy and comfort for residents.
With the added benefit of a large communal bathroom with a roll top bath and separate shower cubicle.

Recent comprehensive renovations have resulted in a contemporary and inviting living environment, appealing to todays discerning tenants.
A fully-equipped communal kitchen encourages social interaction and has plenty of space for a large dining table as well as plentiful storage cupboards and white goods. Stairs rise to a relaxing lounge area, which provides a comfortable space for residents to unwind. The sitting area also boasts double doors to a unique balcony where you can sit with a coffee and take in breath taking city, water and countryside views.

The current rental income provides a strong return on investment and the perfect addition to any buy to let portfolio, the property also has a history of consistent occupancy ensuring a reliable income stream.




VIEWINGS Interested applicants should contact Martin & Co today on in order to arrange their viewing appointment.

NOTICE TO APPLICANTS We endeavour to make our sales particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Please be advised that some of the particulars may be awaiting vendor approval. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller. We routinely refer potential purchasers to Simply Conveyancing. It is your decision whether you choose to deal with Move with Us. In making that decision, you should know that we receive an annual payments benefits, equating to approximately 200 per referral

Features
  • Freehold

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 291450

Mortgage Loan to Value

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Gross Yield

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Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

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  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 8750
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 28950
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

This is the percentage of the rent that you will spend maintaining the property.

£

Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

£

Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

£

This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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