Harrington Drive, Nottingham NG7 1JN 5 bed detached house for sale

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Harrington Drive, Nottingham NG7 1JN 5 bed detached house for sale

Harrington Drive, Nottingham NG7 1JN
£350,000

Our Summary

  • Great investment opportunity to own this 5 bedroom HMO in a sought after areaThe owner has kept the property in great condition throughout the years, carrying out renovations and improvementsAll licencing and C4 planning in placeTwo of the rooms come with en-suite bathrooms, there is also potential to extend the property into a six bedroom HMO SSTPThe additional amenities and space provided in the two kitchens has proven to attract the professional tenants to have longer tenancies (2-3 years) and helping to reduce void periods
  • 18 pcm)Rental income does have the potential to be increased

Description

This 5-bedroom HMO property is a great investment opportunity in a sought-after area, with the owner having maintained it in excellent condition over the years. The property has undergone renovations and improvements, including two en-suite bathrooms and potential to extend to a six-bedroom HMO. The two kitchens provide additional amenities and space, attracting professional tenants who tend to stay for longer periods (2-3 years) and reducing void periods. The property features a driveway with two off-road parking spaces, secure bike store, external security lighting, and a rear garden with good orientation. With a long rental history and current rental income of £2,490 per month (£29,880 per annum), inclusive of bills, the property offers a 7.8% gross yield. With a proposed rental increase to £2,620 per month (£31,440 per annum) from October, this property presents a strong investment opportunity for potential buyers.