2-Bed R2RSA in York

Sourced are pleased to present another fantastic opportunity, a luxury 2-bed flat available for R2RSA in York. This prestigious development has been finished to the highest standard and offers the best in both style and location including bespoke designed kitchens and herringbone flooring. The apartment is ideally situated within the City Walls in a popular but also quiet area of the City. The development is on the doorstep of a variety of excellent shops and restaurants as well as a short walk to York Railway Station. The apartment comprises of: secured entrance system; hallway; spacious open plan lounge/kitchen with integrated white goods; house bathroom with shower unit and two good sized bedrooms. On street parking is available, parking permits are available via City Council at additional cost.

The unit will comfortably be able to sleep up to 6 guests. The total rent payable for the unit is £1,950 which does not include bills. The financial figures provided also allow for management costs and OTAs and the profit is net after all costs.

This property will be fully managed by our managing agent, making it as hands-off as possible for you. The property also comes fully furnished. We'll also get you set up on our online platform so you have full visibility of bookings/revenue. The management fee is 14% + VAT of net revenue. This includes full management covering everything from check-ins, check-outs, cleaning and maintenance.

Pictures, location details and a detailed financial breakdown are available on request.

Sourcing fee of £5,000 applies.

The Financials
▪ Rent: £1,950
▪ Ongoing monthly costs (including approx. bills): £401
▪ Average nightly rate: £215
▪ Revenue at 70% occupancy: £4,578
▪ Revenue at 85% occupancy: £5,559

▪ Deposit: £1,950
▪ Sourcing fee: £5,000
▪ Total Upfront Cash Required: £6,950

▪ Monthly profit at 70%: £955
▪ Annual profit at 70%: £11,459
▪ Profit over 5 years at 70% (assuming no increase in nightly rates): £34,377

▪ Monthly profit at 85%: £1,663
▪ Annual profit at 85%: £19,960
▪ Profit over 5 years at 85% (assuming no increase in nightly rates): £59,880

▪ ROCE over 1 year at 70%: 165%
▪ ROCE over 5 years at 70% (assuming no increase in nightly rates): 495%
▪ Months till profit: 7