Ideal investment property for sale

Placed: 26/12/17
Region: Dorset
Location: Bournemouth
Category: Real Estate


Content of the advertisement:

Property type: House, Number of bedrooms: 6

Large house in the desirable area of Queens Park, Bournemouth.
Recently renovated as one large contemporary family home. (See photos below)
2600 sq ft with 5 large bedrooms, 4 reception rooms and a double garage.
Ideal family home or investment opportunity
Option 1
Buy as a family home or buy as a single let property. Will rent for £2500 per month as a single let. Sale was agreed but chain fell over on day of exchange and we are keen to sell to move on to new opportunities. Sensible offers considered.
Option 2 - HMO
With circa 50k of work you have the ability to convert the house to an 11 bed (12 if you convert the extension) with 5 of the rooms large enough for 2 people so 11 rooms/16 persons subject of the necessary approvals. All rooms have have been fully renovated with new carpets/ flooring
and repainted. All bathrooms and kitchen are newly fitted. Fire doors and wired smoke detectors have been fitted.
Works required
3 ensuites.
Partitioning and insulation of loft space
Partition of lounge
Conversion of garage
Addition of 2nd hob and oven.
Return on investment potential - average income per room £550pcm - only one room is a single.
Annual income £72600
Cost of house plus 50k conversion 650k
Mortgage of 400k @ 4% = £16000.
Cashflow £56600
Return on cash left in (250k) 22.6%
Option 3
The property has full planning permission for conversion into 3no 2 beds and 1no 1bed apartment. (4 units in total) with GDV of circa 800k. Cost of works to finish works circa 70k therefore immediate equity of £130k.
Call David to arrange a viewing on 07928008461.

Price / Salary: £599,000.00