R2RSA in Chelmsford

Sourced are pleased to present another exceptional opportunity to take on a stunning 2-bed Flat for R2RSA in Chelsmford on a 3-year agreement. The unit benefits from 2 bedrooms, open plan living room and dining area and 1 bathroom and has been fully refurbished to a lovely standard. The property is in a fantastic location right in the heart of Chelsmford city centre meaning everything is within walking distance.

The unit will comfortably be able to sleep up to 6 guests. The total rent payable for the unit is £1,750 which does not include bills. The financial figures provided also allow for management costs and OTAs and the profit is net after all costs.

The unit is available on a 3-year contract. This investment can be fully managed by our managing agent or self-manged making it as hands-off or hands on for you. 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 £3,000

The financials:
▪ Rent: £1,750
▪ Ongoing monthly costs (including approx. bills cost)*: £391
▪ Average nightly rate: £210
▪ Revenue at 70% occupancy: £4,472
▪ Revenue at 85% occupancy: £5,430

▪ Deposit: £1,750
▪ Sourcing fee:£3,750
▪ Furniture: £6,500
▪ Total Upfront Cash Required**: £12,050

▪ Monthly profit at 70%: £1,088
▪ Annual profit at 70%: £13,057
▪ Profit over 3 years at 70% (assuming no increase in nightly rates): £39,170

▪ Monthly profit at 85%: £1,780
▪ Annual profit at 85%: £21,360
▪ Profit over 3 years at 85% (assuming no increase in nightly rates): £64,079

▪ ROCE over 1 year at 70%: 108%
▪ ROCE over 3 years at 70% (assuming no increase in nightly rates): 325%
▪ Months till profit: 11