Elm Grove, Brighton

The Details

EPC Floorplans Fees apply: Our fees Council tax band: C Property ref: 12167860

• Virtual Tour Available
• Investment Property
• Freehold
• 5 Bedroom HMO
• Prime Rental Location
• AST in place until Aug 2024
• Current £2,752 pcm Rental
• Current £33,024 pcm Rental
• Forecasted £3,142 pcm / £37,000 Future Rental
• EPC: D

Located on the ever popular Elm Grove, this 5 bedroom HMO has the potential to be the flag ship in any experienced Landlord's portfolio, or represents the perfect safe investment for any first time Landlord.

Owing to its fantastic location, the property has always retained huge rental demand, particularly from the student market, usually allowing for choice of tenant amongst applicants, and a rental early in the season to secure long term health of returns. The property currently benefits from a student fixed term AST running until Aug 2024, and returns a gross £2,752 pcm / £33,024 pa, which represents a 6.3% yield on the asking, guaranteed for the first year.

With the rental season due to start soon for the 2024-25 academic year (Nov - April) the property is forecast for large rental growth in line with market conditions, with an an anticipated £3,142 pcm / £37,700 pa (subject to contract) which provides a very attractive 7.1% gross.

Owing largely to its fantastic location, and high standard of finish, the property can be expected to continue to grow in rental returns in line with the wider market, and with this, the good capital value growth. Unlike many HMOs in the city, the architectural type of the house, the property retains its full value if reverted to a family home for sale also. Allowing for large security and exit options if required.