This property has been taken off the market.
9 Bed Detached House For Sale Stonehill Road, Derby, DE23
£400,000- Detached
1 of 9
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Last Updated: 8th May 2024
Description
FHP Living are delighted to offer this substantial HMO Investment Opportunity In Derby. The property is located around 2 miles from the University of Derby Campus & 1 mile from the City Centre making the property suitable for a number of uses, with working professionals, Student or Social Housing all a suitable uses
The property is a large period home currently used by a local charity with 9 lettable bedrooms ,sharing 3 showers and a further WC. There are 2 kitchens with open plan reception rooms attached to them, a further set of offices, a utility room and further storage.
The property will be sold with vacant possession due to the nature of the current owners and occupiers and could benefit from works to produce further uplift.
Our view is that each room should receive a rent of between £500 - £550 per month inclusive of bills and taking an assumption of 11.5 months occupancy per annum, the annual rent should be between £51,750 and £56,925 per annum.
Asking Price - £400,000
ERV - £51,750 - £56,925 pa inc bills
anticipated Gross Yield -12%
Council Tax Band D
Local Authority -Derby
The property is a large period home currently used by a local charity with 9 lettable bedrooms ,sharing 3 showers and a further WC. There are 2 kitchens with open plan reception rooms attached to them, a further set of offices, a utility room and further storage.
The property will be sold with vacant possession due to the nature of the current owners and occupiers and could benefit from works to produce further uplift.
Our view is that each room should receive a rent of between £500 - £550 per month inclusive of bills and taking an assumption of 11.5 months occupancy per annum, the annual rent should be between £51,750 and £56,925 per annum.
Asking Price - £400,000
ERV - £51,750 - £56,925 pa inc bills
anticipated Gross Yield -12%
Council Tax Band D
Local Authority -Derby
Agent Details
FHP Living
Number One, Weekday Cross Nottingham NG1 2GB
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.