Thursday, 29 October 2015

Potential 4 or 5 Bed Multilet Close to University & Hospital (£1,500 per month rental income)

We've rented out similar properties to this on this pedestrian only street for a number of years, both as a single let to families or as a Multilet to working professionals - the £125k asking price rules this out as a single let but it stacks up if you rented out 4 or maybe even 5 rooms

It's got 4 good size bedrooms plus a separate lounge and dining room, making it possible to configure this as a 5 person room-by-room let

Assuming it's only got 2 useable stories as the sales details suggest, even with 5 rooms rented out you'd not need to apply for an HMO license as Sunderland council currently applies the mandatory HMO licensing conditions

Given there will be work required to bring this to a standard to rent out on this basis and there'll also be the need to furnish it to a good standard I'd be wary about giving any Yield figures (given I can't accurately assess the total spend required at this stage) but it is possible to suggest that based on 5 rooms each renting for a modest £70pw (bills included) it would bring in over £1,500 per month

Click here for details http://www.zoopla.co.uk/for-sale/details/38480701


Call me to discuss this, the Multilet strategy in general or all aspects of property investment in Sunderland - my number is 0191 567 8577 or email neil.whitfield@belvoirlettings.com

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