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£550,000
Bedrooms
Bathrooms
Reception
An exceptional opportunity to acquire this spacious, three-storey, fully licensed six-bedroom HMO, ideally located on London Road in Reading. This high-yielding investment is being sold with tenants in situ, generating a current gross rental income of ?3,150 per calendar month (?37,800 per annum).
Each of the six generously sized double bedrooms benefits from its own modern en-suite bathroom, offering both privacy and convenience a highly attractive feature for the student and professional rental market. The property also includes a large, well-equipped kitchen and communal dining area, creating a comfortable and practical shared living space.
Further benefits include a private enclosed rear garden, gas central heating, double glazing throughout, and off-road parking.
Situated on a main transport route, the property provides excellent access to Reading University, Reading town centre, the A329, M4 motorway, and Thames Valley Business Park. With strong rental demand in the area, this property represents a turnkey investment offering stable, consistent returns from day one.
Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Purchasers must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Council Tax
Reading Borough Council, Band C
Utilities
Electric: Mains Supply
Gas: Mains Supply
Water: Mains Supply
Sewerage: Mains Supply
Broadband: FTTP
Telephone: Landline
Other Items
Heating: Gas Central Heating
Garden/Outside Space: Yes
Parking: Yes
Garage: No
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 )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
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.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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