5 Self Contained Flats

5 Self Contained Flats in Lancashire

Investment Area: Blackpool
Strategy: Multi-Unit Buy to Let

Traditional Large mid terrace house, divided up into MUFB (Multi-Unit Freehold Block).

Key property details:
- Large House Split into 5 Self contained flats.
- Freehold
- 133sqm
- EPC Each flat C
- Council tax band A
- Vacant possession
- No chain

This mid-terraced house is currently set up as FIVE Self Contained Flats situated on Albert Road just off Regent Road being very conveniently placed for Local Shops, Schools, Public Transport, Close to University and other Local Amenities. The accommodation comprises Four 1 Bedroom Flats which could achieve £400pcm each and 1 Studio Flat which could achieve £350pcm.

▪ Purchase price: £190,000
▪ Annual profit: £16,980
▪ ROCE: 27%
▪ Yield: 12%

▪ Deposit: £47,500
▪ Stamp duty: £9,500
▪ Sourcing fee: £4000+vat
▪ Legal fees estimate: £1,500
▪ Survey estimate:£1,000
▪ Insurance estimate: £500

▪ Total: £64,000

▪ Max. potential gross rent: £23,400
▪ Mortgage Interest 75%@4.5%: £6,413
▪ Gross profit:£16,987

Representing an all money out deal within 5 years!

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