Investment Type: HMO AND CO-LIVING
Est. Completion: AVAILABLE
Investment Property Description for 455 Plodder Lane, Bolton BL4 0JU
This well-maintained, fully tenanted, and high-performing 5-bedroom HMO (House in Multiple Occupation) property, located at 455 Plodder Lane, Bolton BL4 0JU, offers an excellent opportunity for property investors seeking a reliable income stream. The property is generating a rental income of £2,885 per month, translating to an annual rental income of £34,620.
The property has already been converted to a 5-bedroom HMO, with all relevant licenses in place. A full HMO license is already secured, and an application has been submitted to the council for a Certificate of Lawfulness for the conversion. This ensures the conversion was done correctly and by local regulations, providing peace of mind for any potential investors.
The property features 5 spacious, ensuite bedrooms, providing modern and comfortable living spaces for tenants. Each bedroom has its private bathroom, making it an attractive option for professional tenants. There is also a communal kitchen with ample kitchen appliances and storage space. To the rear of the property is a large yard.
Currently, the property is fully tenanted, ensuring immediate returns for the next owner. The managing agent, Abode, is in place to oversee the property's day-to-day management, with a management fee of 10% of the monthly rental income.
Financial Breakdown:
Rental Income:
* Monthly rental income: £2,885
* Annual rental income: £34,620
Outgoing Costs:
* Council Tax: £1,427.38 per annum
* Gas & Electricity: £252.20 per month / £3,026.40 per annum
* Broadband: £46 per month / £552 per annum
* Water Charges: £50 per month / £600 per annum
* Managing Agent Fee (10%): £288.50 per month / £3,462 per annum
Total Annual Outgoings: £9,067.78
Annual Rental Income: £34,620
Net Annual Income: £25,552.22
Gross Yield = 13.3%
Net Yield = 9.8%
Summary:
* Gross Yield: 13.3%
* Net Yield: 9.8%
* Asking Price: £260,000
Location
Bolton, United Kingdom
If you would like further details about Pure Investor or any of our property investment opportunities, please contact us using the form below or call us directly.
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Call: +44 (0) 161 337 3890
Call our team today on +44 (0) 161 337 3890