Hunters Estate Agents are pleased to offer this investment HMO Property with 5 double bedrooms which is currently fully let with an excellent track record since 2018. This well maintained property is situated less than 1 mile from Redditch Town Centre, bus and rail stations.
The freehold property is understood to have been fully converted to the appropriate standards and holds a licence from Redditch Borough Council. It has since been further improved with a new kitchen with appliances and white goods together with a new boiler and cloakroom suite.
Income:
Current gross rental income is £28,080 per annum (£2,340 per month)
Current net rental income based on winter fuel costs is £22,269 per annum (£1855.75 per month)
(Current winter fuel costs include Council Tax, TV, gas, electric, internet, water and buildings insurance)
7% return from current net rental income with scope to increase rent.