A block of 6 units of 2 bedroom flats for sale in UK, Doncaster

₦26,146,400

Description

A block of 6 units of 2 bedroom flats for sale in UK, Doncaster, DN12 1DE.

Market Value £300,000

Purchase Price = £220,000

Finder’s Fee £7,000

Current Gross Income = £29,087 pa

Great Investment Opportunity!

For a limited time only, we have managed to secure a readymade and income producing Block of flats in Doncaster.

These blocks of flats were built 6 years ago and went under refurbishment 2 years ago.

The property consists of 6 flats which are all currently let, with the potential to increase the rent.

From our research, we believe:

  • 2 bed flats to be worth circa £45,00 – £55,000

The property consists of:  • 6 x 2 Bed Flats

Location the property is situated to:

  • 0.1 miles from St Mary’s Catholic Primary School, Edlington and is
  • 1.9 miles from Conisborough Train Station.

Rental the Flats are currently let out for a total of £2,423pcm producing £24,088 annually. 

  • Flat 1 – Rented at £93.23 per week
  • Flat 2 – Rented at £93.23 per week
  • Flat 3 – Rented at £93.23 per week
  • Flat 4 – Rented at £93.23 per week
  • Flat 5 – Rented at £93.23 per week
  • Flat 6 – Rented at £93.23 per week

Current Income = £559.38 per week = £2,424 pcm = £29,088 per annum

The Vision

  • To purchase the property for £220,000 and enjoy immediate cash flow
  • Change tenant profile and increase rents by £10 to the going market rent.
  • Refinance the property against its commercial valuation

Cash flow Forecast 

  • Current Income = £2,424 pcm = £29,088 per annum

 Costs to consider:

  • Mortgage Cost (based on 75% LTV @ 4%) = £550 pcm
  • Management @ 10% £291pcm

CASHFLOW AFTER ALL THE ABOVE COSTS Managed = £1,583 pcm = £18,996 per annum Self-Managed = £1,874 pcm = £22,488 per annum.

Capital Required To Get Involved: 

  • Purchase Price = £220,000
  • Deposit @ 25% = £55,000
  • Stamp Duty = £1,400
  • Legals = £1,000
  • Sourcing Fee = £7,000

 Total Capital Required = £64,400 

ROI based on an investment of £64,400

Managed = 29% Self-Managed = 35%

We are in contact with a letting agency who would continue to manage this property allowing you a hands free transaction.

 

Share This Property

Share