Three north east properties around 10% annual return Darlington Barnard Castle
Sale price: £375,000.00 make an offer
Last update: 02.03.2016
Seller's location: Barnard Castle, United KingdomSale type: Fixed price listing
Specifications, photos and description:
Do you like this property?
Three north east properties around 10% annual return Darlington Barnard Castle for sale
Current customer rating: (93 votes) based on
A three bedroom Mid Terrace Family home in Barnard Castle. Value: £130kCurrently Rented out at £550/month
A three bedroom. two bathroom end terrace family home in Darlington with off-street parking plus front and rear gardens. Value: £115kCurrently Rented out at £505/month
A Large. Three Story end of Terrace HMO in Darlington comprising of six separate units. Value: Approx. £130kCurrent Rental: £1. 25/monthPotential Rental: £1. 50/month
The HMO requires work before the last two units can be rented out. however most of this work has been completed. I'd estimate another £2k-£4k would complete it. more if you want to make the top story into a self contained flat. however this would add to the value. Less if you are good at DIY.
The approximate value of the three properties is £375k with a rental income of over £33k a year. Add to this the potential appreciation of the properties and you can see this is a great investment. However be warned running an HMO can take time to get right. I am selling the property as I don't have enough free time to spend on the HMO. the other two houses look after themselves.
I'm looking to sell all three properties if possible. however would consider selling separately. Due to the properties being occupied I have not provided exact details or photographs and wish to sell it to someone who would keep the existing tenants at least until the end of their agreements. Contact me for further information.
Also published at eBay.co.uk