Home Search Results Buy to Let (Tenant in Situ) 3 bed flat close to Manchester City Centre w. HMO licence – *REDUCED*
Agent
5 days ago
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3 bed flat close to Manchester City Centre w. HMO licence – *REDUCED*

Area: Salford
Buy to Let (Tenant in Situ)
£199,000
Bedrooms: 3
Bathrooms: 2
Year Built: 2013
Market Status: Off Market
Property Purchase Price: £199,000
Fair Market Value: £230,000
Price Negotiable?: Yes
Monthly Rental Price: £1,400 /month
Gross Yield: 7.81%
Sourcing Fee (including VAT): £3,000

*Price reduced again* Vendor seeking a quick sale of a 3-bedroom, 2-bathroom flat located in Salford M5 4SS, just on the edge of Manchester City Centre.

The flat comes with a parking space, which is unusual for the area and is a real bonus for this investment opportunity. The property is in close proximity to many city centre attractions such as Deansgate Locks, Castlefield Basin, Museum of Science and Industry, and Great Northern Warehouse, and is only a 15-minute walk from the shops, restaurants, and bars of Spinningfields. It is less than a 10-minute drive to Salford Quays, Media City and Old Trafford.

 

The flat is currently let to a tenant who is paying £1,400 per calendar month, plus all bills. The property is fully managed by a local letting agent, making this a hands-off investment. The gross yield is currently 8.44% and, with a BTL mortgage in place, will give a ROI of 12.9% 

 

The vendor has recently obtained an HMO (House in Multiple Occupations) license for the property, which, when fully tenanted, could achieve a monthly rent of approximately £2,100. This would increase the gross yield to over 12%. 

 

The service charges are £1,836 per annum, and the ground rent is £330 per annum, paid by the owner. The property is leasehold with approximately 100 years left on the lease.

 

Features

Broadband Internet
Central Heating
Close to Amenities
Great location
Include white goods
Kitchen
Near to the Train Station
Off-Street Parking
Refrigerator
WiFi
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Twin Bee Property Management Ltd
Member since: 3 months
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Manchester
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