Thursday, 2 July 2015

Great Location Close Sunderland Royal Hospital (5.7% Gross Yield or 9.4% Gross Yield as Multilet)

This immaculate 3 bedroom mid terrace on Cleveland Road is ideally placed to appeal to those working at Sunderland Royal Hospital. The price of £125,000 makes it at the very bottom end of acceptable returns as a family let (5.7% Gross Yield) but it may lend itself to being let out on a room-by-room basis and if so, would be significantly more lucrative


It's got 3 bedrooms (2 doubles and a single) and 2 reception rooms - there may be a temptation to use one of the ground floor reception rooms as a bedroom if renting it room-by-room but I'd suggest this may not be the best idea...

I say this as is there is only 1 bathroom and whilst this may just about work with 3 people sharing it's unlikely to work with 4...and I can't see an obvious way to add a further bathroom or w/c


With such a let you'd need to do it as 'bills included' so you'd be looking at around £80prpw for the two doubles and £65prpw for the single - this equates to £975pcm and would return 9.4% Gross Yield

With a let of this nature you wouldn't fall foul of HMO mandatory licensing requirements but it would still be classed as an HMO, so there would be more red tape and hoops to jump through than renting it as a property as a whole

Click here for details https://www.onthemarket.com/details/1733632

Give me a call if you'd like to chat about this property, renting properties on a room-by-room basis or any aspect of the Sunderland property market - call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com 

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