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£255,000Property for sale
Layton Avenue, Nottingham NG18
Property
5 beds
Features and description
- Tenure: Freehold
- 5 Bedroom Professional HMO
- 0.4 miles from Mansfield Train Station
- Dense Residential Location
- HMO Licence renewed December 2022
- Managed by Pinewood for Several Years
- Spacious Ground Floor Kitchen
- Dining Room, Utility and WC
- Freehold
- Council Tax Band: A
Pinewood Properties are delighted to present this renovated HMO investment opportunity. The property has been converted into 5 x units, some with Ensuites producing c. £28,950 pa for a gross yield of 11.56%.
Mansfield is a large market town with a population of over 100,000, set around 12 miles north of Nottingham City Centre. It lies around 6.8 miles east of the M1, has a train station on the Robin Hood Line along with regular bus routes to Nottingham City.
The property is a Three Storey 1920’s Semi-Detached property, consisting of 5 units with 1 unit from the original entrance and the remaining 4 units set over a further 2 floors. The property has been excellently renovated with significant attention to detail. Two units benefit from their own Ensuite shower rooms, the ground floor has its own shower cubicle and 2 units on the first floor share a stunning shower room.
The ground floor has a superb kitchen and dining room, the kitchen has a range style cooker along with a standard hob and oven giving plenty of space to cook and prepare food. Just off the kitchen is a handy utility with pay meter washing machines and a ground floor WC.
The vendor has achieved full occupancy following its renovation, producing the below income;
Room No 1 - £460 pcm
Room No 2 - £425 pcm
Room No 3 - £430 pcm
Room No 4 - £480 pcm
Penthouse Room No 5 - £615 pcm
Summary income = £2410 pcm (£28,950 pa)
The property received a new HMO license, set to expire in 2026 (new owners would need to re-apply). The property is not located in an area with Article 4 and the property has full building control sign off. The vendor would also offer to retain management services should they be requested.
Pinewood have managed this property along with the landlords for several years and think this is one of the best of its kind, please contact the office for further details.
Mansfield is a large market town with a population of over 100,000, set around 12 miles north of Nottingham City Centre. It lies around 6.8 miles east of the M1, has a train station on the Robin Hood Line along with regular bus routes to Nottingham City.
The property is a Three Storey 1920’s Semi-Detached property, consisting of 5 units with 1 unit from the original entrance and the remaining 4 units set over a further 2 floors. The property has been excellently renovated with significant attention to detail. Two units benefit from their own Ensuite shower rooms, the ground floor has its own shower cubicle and 2 units on the first floor share a stunning shower room.
The ground floor has a superb kitchen and dining room, the kitchen has a range style cooker along with a standard hob and oven giving plenty of space to cook and prepare food. Just off the kitchen is a handy utility with pay meter washing machines and a ground floor WC.
The vendor has achieved full occupancy following its renovation, producing the below income;
Room No 1 - £460 pcm
Room No 2 - £425 pcm
Room No 3 - £430 pcm
Room No 4 - £480 pcm
Penthouse Room No 5 - £615 pcm
Summary income = £2410 pcm (£28,950 pa)
The property received a new HMO license, set to expire in 2026 (new owners would need to re-apply). The property is not located in an area with Article 4 and the property has full building control sign off. The vendor would also offer to retain management services should they be requested.
Pinewood have managed this property along with the landlords for several years and think this is one of the best of its kind, please contact the office for further details.
Property information from this agent
About this agent
Founded in 2004 by Managing Director Stacey Davies-Bowler, Pinewood Properties has grown and developed to become a reputable, independent estate agent in the East Midlands. Being a landlord himself, even before establishing Pinewood Properties, Stacey combined his passion for property with his past career qualities as an engineer to start his own estate agency. In the beginning, Pinewood Properties specialised in only property management and investments, then in 2008 an expansion led to a sales department and in 2015 we began offering land and new homes services to our clients. As well as growing our property services, we have also expanded our branches to ensure local expertise is maintained. We have always put customers at the heart of what we do and we continually ensure we provide the highest standard of service for those looking to sell, buy, let or rent in Chesterfield, Mansfield, Clowne, Clay Cross or the surrounding areas.
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