Manchester HMO Houses
Manchester
Location10%
NET Yield£164,000
Prices From
HMO Houses Manchester
Fresh Invest is delighted to release a selection of high spec, fully furnished HMO Houses located around Manchester.
- 3-6 Bed HMO Houses
- Annual NET Yield up to 10%
- Full Furniture Pack Included
- Superb Commuter Location
- Opportunity to Invest in a “Northern Powerhouse”
- Prices from £164,000
More Information
THE INVESTMENT
An opportunity to purchase a full “turn key” investment solution where the refurbishment, tenancy and management is all taken care of.
Sourcing, Purchasing, Converting and Managing an HMO is a laborious project and one which should only be undertaken by professionals. By working with our investors we have structured an investment in high yielding HMO houses in significant growth areas.
All of our houses will be sold fully refurbished with a full furniture pack included.
THE AREA
With over £40 million invested in Eccles town centre from 2010 to 2015, it has grown from a small village into a vibrant area that provides a range of shopping and community facilities.
The Eccles area of Manchester has been selected primarily because of its commuter links but also because of the Article 4 directive that is due to come in around November 2018. Article 4 limits the amount of HMO’s allowed in the area by requiring a different planning permission.
Properties already converted before November are not required to apply. We have seen other local areas that article 4 has been applied experience significant capital growth.
THE FINANCIALS
- Purchase Price – £164,000
- Average Monthly Rent/Room – £599
- Total Average Monthly Rent – £1,798
- Gross Income – £21,580
- Costs Per Annum – £5,544
- NET Income – £16,036
- Gross Yield – 13%
- NET Yield – 9.7%
COST BREAKDOWN
- Letting Fee’s (10%) – £2,167
- Voids (3%) – £650
- TV & Internet – £520
- Utilities – £960
- Council Tax – £1,172
- Gas Servicing – £75