6 Bedroom House Of Multiple Occupation For Sale In Colchester, Essex

house for sale

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Listed: 03/27/24

Egret Crescent, Colchester, CO4 3FP, United Kingdom

6 Bed:

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Price

£ 380,000

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About This House

Unleash the potential of a lucrative investment with this outstanding 6-bedroom freehold detached HMO property in the sought-after Longridge area of East Colchester. Positioned conveniently near local parks, schools like Colchester Academy, the University of Essex, and the city centre, this fully licensed shared house is a prime opportunity for astute investors.
Already fully tenanted, the property generates an impressive gross yearly rental income of £34,316.64,equivalent to £2,859.72per month. Operating expenses are minimal at £61.66 monthly, covering broadband, insurance, and miscellaneous costs, resulting in a substantial monthly net income of £2,798.00.
Priced at £400,000,this investment offers a compelling gross rental yield of 8.58% and an 8.39% net yield. Moreover, there's untapped potential for future rent increases, promising even greater returns.
The landlords have … Full description

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