House of Multiple Occupation
High yield residential investment opportunity.
Situated within easy reach of Pride Park and Derby city centre is a well appointed, three storey, five double bedroom (all with en-suites) fully licensed HMO property (granted by Derby City Council in May 2023).
The well equipped investment property is currently let on five assured shorthold tenancy agreements, producing a combined gross monthly income of £2,436.50 per calendar month (£29,238 per annum). This represents an impressive 16.2% return based on the guide price.
The brick built town house has the benefit of being uPVC double glazed, gas centrally heated and in brief comprises entrance hall with staircase to first floor, bedroom one with en-suite shower room, communal lounge/dining room and a stylish fitted kitchen with a comprehensive range of built-in appliances. To the first floor landing there is useful laundry room and two double bedrooms, both en-suite shower rooms. To the second floor there are two further double bedrooms, again both with fitted en-suite shower rooms. Outside to the rear of the property there is low maintenance garden.
The property is situated within the context of an established residential location with excellent road networks connections and is always a popular choice with landlords/investors locally and nationally.
The internal photographs have been supplied by the seller and are believed to have been taken in 2018. Room measurements will not be provided. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 inc. VAT
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
