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Asking Price  £189,000

Springfield Street, Swinley, WN1 2NA

A fully licensed 7 bed HMO generating a yearly income of £23,600 pa.

  • House of Multiple Occupancy
  • 7 bedrooms over 3 floors
  • Walking distance to town & hospital
  • Potential yield 12%+
  • 2 bathrooms & 1 WC / 2 kitchens
  • Refurbished roof with 10 yr guarantee
  • Basement with 3 cellar rooms
  • Fully occupied £23,660 income pa

Fully licensed HMO for sale which offers 7 bedrooms (all currently occupied) and generating a yearly income of approximately £23,600 pa. and a potential net yield of over 12.4%. This large end of terrace house comprises four floors including a basement which has three spacious rooms that offer potential to convert into additional living space which would allow for potential to add more bedrooms and/or bathroom. There are two recently updated bathrooms and the main kitchen on the ground floor plus one bathroom and another kitchen on the first floor together with seven bedrooms each achieving a weekly income of £65. The property has been fully occupied for the last few years by the current tenants making this a quick and easy purchase for any potential buyer who is looking to receive a healthy yield on their initial investment. The property is warmed by gas central heating and benefits from double glazing, a recently refurbished roof, three updated bathrooms and WC. A fact that is reflected in the competitive asking price and that will allow a prospective buyer to upgrade the accommodation and charge higher rents (with average rents for rooms in the area ranging from £70-£90 a week and modernised ensuite bedrooms achieving as much as £120 a week). Our seller is looking for a buyer to purchase the property as an ongoing concern with sitting tenants and can provide accounts and all relevant certification for the HMO upon request.

Council Band A Band B Band C Band D Band E Band F Band G Band H  
Wigan Council £912.44 £1,064.51 £1,216.58 £1,378.40 £1,672.80 £1,976.95 £2,281.10 £2,737.32 Website
West Lancashire £1,001.18 £1,168.05 £1,334.92 £1,501.77 £1,835.49 £2,169.23 £2,502.95 £3,003.54 Website
South Ribble Borough Council £1,014.34 £1,183.41 £1,352.47 £1,521.52 £1,859.63 £2,197.76 £2,535.86 £3,043.04 Website
Chorley Borough Council £1,003.58 £1,170.85 £1,338.11 £1,505.37 £1,839.89 £2,174.43 £2,508.95 £3,010.74 Website

All council Tax Bandings are indicatory. Please check the precise banding for a property of interest.

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