Newfoundland Drive, Baiter Park, Poole, Dorset, BH15

*** INVESTMENT *** A fully licensed HMO with 4 letting rooms constantly producing a reliable income and well positioned close to Poole Town centre and The Quay. The property has a low maintenance exterior, courtyard garden and off road parking.

THE PROPERTY

This freehold residential investment opportunity is a fully licensed HMO in an excellent location just minutes walk from Poole Quay, Baiter Park and Poole Park. Sainsburys & Aldi supermarkets are also walking distance (5-10 mins) as is Poole Railway station is a short walk (less than 1 mile).

For bus transport there are excellent links at Poole Bus Station (M1 + M2 buses in particular).

Overall accommodation is 5 bedrooms and 3 bathrooms in this three floor townhouse presented in excellent condition as a turnkey landlord friendly investment opportunity.

Buy it now and tuck it neatly into your existing portfolio.

INCOME

(Figures supplied by seller, please verify before commitment to purchase). A consistent and reliable +6% gross rental yield (+5% Net) Monthly rent is £2,750 (Potential to increase this by a further £175 per month with rent reviews). Annual income is usually between - £33,000 and £35,100.

OVERVIEW
5 x Tenants 6 month rolling tenancies. Average length of tenancy circa 18months. Annual costs - £7k (circa)

ACCOMMODATION On the outside both the rear and front of the property are fully paved for zero garden maintenance. Internally you will discover an up together property, including

• Hallway downstairs tiled throughout
• Kitchen has a new cooker and new washing machine and fridge.
• Glow worm boiler ( fitted in August 2022 7yr parts and labour warranty) controlled remotely with a HIVE smart home heating thermostat and control panel.
• Fire Control Panel (Smart Cell) with sounders, break call points and signage is all compliant with current regulation (fitted in July 2022 - cost circa £4,000 fitted)
• Stairs and landing hallways were all re-carpeted including new underlay throughout in 2019. Carpet is dark stripey and hardwearing.
• Bedrooms (x5) were all re-carpeted including new underlay throughout in 2019, matching carpet with stairs and landings. All bedrooms redecorated in 2019
• Communal areas throughout (hall, kitchen, landings and stairs) were decorated in 2019.
• Bedrooms are all good-sized doubles of comparable size. There is one ensuite bedroom (no.3)
• Shared bathrooms (x2). There is a small shower room, toilet and wash hand basin on the ground floor.

There is a larger walk-in shower, toilet and wash
hand basin on the top floor (this was
recently completely refurbished (July
2022).

OUTSIDE The property comes with 2x parking spaces situated at the rear of the house and paved rear garden/courtyard.

COUNCIL TAX - Band E