This is being advertised as a 13 bed on Rightmove, but it’s actually four flats – two four beds, a three bed and a two bed. It’s being marketed at £495,000 which is serious money, so one for the professional landlords out there.
The rent role is currently:
23 – 2 bed @ £75pppw - £7,800 per annum
23A – 3 bed @ £80pppw – £12,480 per annum
25 – 4 bed @ £650pcm - £7,800 per annum
25A – 4 bed @ 67pppw – £13,936 per annum
Total £42,016 per annum.
One of the four beds is currently let to a family at £650pcm
which does bring the rent down – were it let to students at the same rate as
25A which with some work it should do, then the total rent would be
£48,152.
I think it's possible to rent the property out at £75 per room which would give an annual rent of £50,700. To achieve that you would need to spend a bit of money updating the
property – nothing major, as the layout of all four flats is OK, but they could
all do with new carpets and redecorating, and the 4 bed at 25 could do with a
new kitchen and bathroom (probably hence why it has struggled to let and ended
up renting to a family). Or you could go really high end with LED lighting, TV's in the bedrooms, new bathrooms and kitchens in which case you could be looking
at rents in the late £70’s/early £80’s – so anything from £53,000 to £60,000.
