Property Overview:
Prime Location close to Leeds City Centre |  No Article 4 or Planning  | 

 

Alliance Property Group Ltd offer this great opportunity to enter the Leeds HMO market with this excellent located 3 Bed house and develop into a 4 Bed 3 Bathroom HMO close to Leeds City Centre.

No Article 4 or planning required. This property will sell fast.

  • Property Description: The property is a large 3 bed mid terraced property is in a popular location for young professionals, walking distance to the Bramley Train Station (200m).
    The property over two levels currently consists on the ground floor of lounge, kitchen, dining room, utility room. On the upper floor there is 3 bedrooms and a bathroom.

    Refurbishment:
    The detailed refurbishment is on a separate document. In summary it will look to change the floor configuration on the top floor to accommodate one un-suite and one main bathroom, whilst leaving spacious bedrooms. The downstairs will have a further bedroom and en suite, looking a large living area for a prospective tenant.
    The kitchen/dining area will also allow for living area. This will be an overall communal space of around 20m2.
     
  • Area Description: Strategically placed in (almost) the heart of the North of England, Leeds is also at the centre of the region’s economy. Having grown out of its traditional mill town heritage, the city boasts a diverse range of industries. It’s boasts a huge financial sector, second to London in the UK, with many top banks and venture firms based in the city. 
  • Local Amenities: A small number of shops within 2 minutes’ walk, including a large super market, 2 minutes’ walk to the bus stop and a further 5 minutes on the bus into the city centre makes this an ideal location for the young professional.
    The strategic nature of Leeds’ location is further shown in its transport connections. With key roads including the M1 and M62 motorways providing routes from north to south and east to west, respectively. Trains also connect Leeds to major towns and cities across the country.
     
  • Financial Details: Financials:

    • Purchase price: No Negotiation £100,000

    • Estimated End Valuation £150,000


    • Refurbishment: £37,000+5% vat
    (detailed breakdown available)

    • Legals £1,500

    • Stamp Duty £3,000

    • 2 x En-Suite Rooms £475 per month each
    • 2 x Bedrooms £385 per month each

    • Total Monthly Rent £1720./month

    • Total Yearly Rent £20,640/year


    • Mortgage- Based on 70% LTV , Rate of 6% £350/ month

    • Monthly Operating Expenses, c 30% of Income £516/month

    • Cash Flow per month £854/month

    • Gross Yield 21%

    • Net Yield 14%

    • Sourcing Fee £7,000 inc VAT

    Please carry out your own due diligence

    Comparables:

    • http://www.rightmove.co.uk/house-prices/LS13-3PX.html




     
  • Download Brochure:  
  • Address: West Yorkshire, England 
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