HMO

6 Bedroom HMO Potential Income £60,900 PA

Dorchester Road, Weymouth, DT4 7JY

Property Information

6 Bedroom HMO Potential Income £60,900 PA

Dorchester Road, Weymouth, DT4 7JY

Purchase Price = £485,000

Finder’s Fee = £6,300

CASHFLOW AFTER ALL THE ABOVE COSTS 

Managed = £2,470 pcm = £29,640 per annum

Self Managed = £3,079 pcm = £36,948 per annum

Location

For a limited time only, we have managed to secure an income producing six bedroom HMO within proximity to Weymouth Town Centre.

  • The property could be rented for £5,075 pcm = £60,900 per annum

The property briefly comprises:

  • Off road parking for 4 cars
  • 7 potential bedrooms
  • 3 ensuites with the option to add 2 more
  • Bedroom 6 comes with its own living area
  • The property is fully compliant as a HMO meeting all the HMO amenity standards
  • Change of use back to C4 under permitted development, with the option to convert to a 7 bed Sui Gen HMO (stpp)
  • The property is conveniently situated in a perfect location within proximity to excellent transport connections, primary schools, local shops, and all the local amenities.

Location

The property is within proximity to:

  • 2.9 miles – Weymouth Station
  • 0.9 miles – Upwey Station
  • 2.0 miles – Weymouth College
  • 2.2 miles – Weymouth Community Hospital
  • 2.5 miles – Art Aylum Shopping Centre

Rental

  • The property could be rented for £5,075 per month

Potential Gross Income = £5,075 pcm = £60,900 per annum

The Vision

  • Let 6 bedrooms out for immediate cashflow, apply for additional 7th bedroom to increase cashflow.
  • Opportunity to refinance on to a commercial valuation to pull some money out and increase ROI further.
  • Social housing and supported living contracts available if preferred.

Cashflow Forecast

  • Potential Rental Income = £5,075 pcm = £60,900 per annum

Cost To Consider

  • Mortgage Cost = £1,516 pcm
  • Bills and Utilities = £480 pcm
  • Management @ 10% + Vat = £609 pcm

CASHFLOW AFTER ALL THE ABOVE COSTS

Managed = £2,470 pcm = £29,640 per annum

Self Managed = £3,079 pcm = £36,948 per annum

Capital Required To Get Involved

  • Purchase Price = £485,000
  • Deposit @ 25% = £121,250
  • Legals = £4,850
  • Stamp Duty = £36,000
  • Finder’s Fee = £6,300

Total Capital Required = £168,400

The Return On Investment based on an investment of £168,400

Managed = 18%

Self Managed = 22% 

We are in contact with a local letting agency within this location who would be able to manage the property. 

Next Steps

  1. Reserve
  2. View
  3. Proceed

Disclaimer - IMPORTANT NOTE TO PURCHASERS:

We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Please be advised that some of the particulars may be awaiting vendor approval. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.
Weymouth, DT4 7JY
Investment

£485,000

Purchase Price

£3,079

Potential Cashflow PCM

22%

Return on Investment

£6,300

Finders Fee