*Over 15% Return* An excellent opportunity to purchase an easy to manage HMO with consistent income in a popular area just a 950m walk from Crystal Palace triangle and easily accessible from 3 speedy train stations.
Why should you buy me?
Most investors strive for an easy to manage HMO (house in multiple occupation) with little to do, in a nice area, with limited tenant rotation, a consistent rent book and scope to do more... luckily this lovely property covers all those bases.
Currently let as 4 separate bedrooms (two with en suite shower rooms), to 4 single tenants (now all on periodic RLA standard room let contracts), this 4-bed apartment is a ready-made goldmine - currently earning a whopping £35,520 annually.
As the second photo shows, the gross yield on this property is a huge 8.88%... with the potential annual yield climbing in excess of 15% when calculated with finance.
Only being sold as it doesn't fit the criteria of the current investor owner's portfolio plans going forward, here sits a fab chance to bag yourself an easy win.
Existing HMO licence (tick!), low annual charges (tick!), extended lease (tick!), rent book history (tick!), longstanding tenants (tick!), modern services (tick!) the list goes on!
Norwood Junction is the most convenient of the three local stations, offering three separate train lines into the city (Thameslink, Southern & Overground) while Crystal Palace & Thornton Heath aren't far away either.
If you don't know already, Crystal Palace is perched atop a hill with sweeping city views and known for its namesake park (with vast dinosaur models), its national sports centre and an urban farm.
It is very popular with trendsetters, hosting vintage shops on Church Road selling retro furniture and clothing, while Haynes Lane Market has eclectic knick-knacks and boasts the weekly Crystal Palace Food Market on Saturdays. Stylish eateries, cocktail bars, and pubs buzz after dark, keeping it popular with young professional tenants.
It's a no brainer!
Tenure: Leasehold (146 years remaining)
Ground Rent: £0 | Service Charge: £0
EER: D (2014) | Council Tax: Croydon Band D