House of Multiple Occupation
A freehold 12 bed licenced HMO recently refurbished to a high standard within a popular location with parking to the front. Current rent passing is £64,320 per annum giving 25% yield, based on the current guide price.
RENT SCHEDULE:
Room 1 - 6 Month Assured Shorthold Tenancy ending 29/10/24 at £398 per calendar month.
Room 2 - 6 Month Assured Shorthold Tenancy holding over at £398 per calendar month.
Room 3 - 6 Month Assured Shorthold Tenancy holding over at £398 per calendar month.
Room 4 - 6 Month Assured Shorthold Tenancy holding over at £400 per calendar month.
Room 5 - 6 Month Assured Shorthold Tenancy holding over at £398 per calendar month.
Room 6 - 6 Months Assured Shorthold Tenancy ending 04/12/24 at £495 per calendar month.
Room 7 - 6 Month Assured Shorthold Tenancy ending 04/12/24 at £495 per calendar month.
Room 8 - 6 Month Assured Shorthold Tenancy holding over at £398 per calendar month.
Room 9 - 6 Month Assured Shorthold Tenancy holding over at £495 per calendar month.
Room 10 - 6 Month Assured Shorthold Tenancy ending 04/12/24 at £495 per calendar month.
Room 11 - 6 Month Assured Shorthold Tenancy holding over at £495 per calendar month.
Room 12 - 6 Month Assured Shorthold Tenancy ending 04/12/24 at £495 per calendar month.
TOTAL COMBINED INCOME: £5,360 per calendar month
Interested parties are advised to inspect the legal pack for more information prior to placing their bid, as this will be binding.
The property is located in Dudley, close to several schools, local amenities and within walking distance to the Russell Hall Hospital. There are several nearby bus links to Merry Hill Shopping Centre, Wolverhampton and Birmingham.
Please Note: The auctioneers have not had sight of the tenancy agreements. We are informed by the seller that the rents include Council tax, water rates, gas for communal heating and hot water and electric for communal areas.
Cavity wall, as built, no insulation (assumed) -Taken from EPC.
Standard 12 mbps and Ultrafast 1000 mbps are available in this location
EE, O2, Vodaphone and Three are available in this location.
Sky, Virgin and BT are available in this location.
Freehold. Subject to tenancy.
- Heating Supply: Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Off Street
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 3.6% of the purchase price (subject to a minimum of £6,000 inc. VAT).
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
