These three 5 bedroom houses are being sold as a portfolio and have previously rented to students at the nearby University
Given the uncertainty of the changing student market in Sunderland I wouldn't necessarily advise buying these houses with that market in mind, but given the properties are opposite a Metro station and less than a mile from the Hospital, it may be that they could be let to working sharers
The fact that the current owner is selling them also raises questions over the long term viability of this market, or is that just me being cynical?
The suggested return of £35,000 pa has been calculated on a 40 week student rental (which breaks down to just under £60 per room per week), giving a 13% Gross Yield base on the OIRO £270,000 asking price
I would suggest that if they were offered to working adults at a suitably good standard (which will probably require investment in both internal refurbishment and appropriate furniture if they have been previously let to students) not only could they achieve significantly more than this per room but also they could be let all year round
Given they look to be only 2 storey properties they will be classed as non-licensable HMO's, which is always a bonus
They're being marketed by Paul Airey so click here for details http://www.rightmove.co.uk/commercial-property-for-sale/property-30515511.html and call them to arrange a viewing
This is not for the inexperienced or faint hearted investor but please feel free to call me if you want further advice or to discuss this opportunity, or to chat about any aspect of the Sunderland property market - call 0191 567 8577 or email firstname.lastname@example.org