Overview
- Updated On:
- January 13, 2023
Description
We purchased a pair of unmodernised Victorian semi-detached houses next to each other to create a 11-bed House of Multiple Occupation (HMO). It is effectively a 5-bed and 6-bed house share for working professionals. These are owned by Chopra Property Group.
There is a huge demand in Slough from professionals working in the Slough Trading Estate and Bath Road corporate offices for single occupation, fully furnished, all-inclusive rooms with communal kitchen and living room. We modernised the houses, created a loft-conversion, single storey extension, taking both houses back to brick, new heating, electrics and added more bathrooms and new kitchen.
Duration: 1 year
Area Summary
- Less than a mile to Slough town ctr
- Less than a mile to Slough train and bus station and Tesco superstore (17 mins fast to London Paddington).
- 0.5 m to M4 Junction 6
- 0.1 m to Bath road
- 0.2 m to Slough Trading estate
- Heathrow express coming soon
Financial summary
- Purchase price: £660k (£350k and £310k)
- Mortgage: £495k
- Cash invested: £165k
- Cost of works: £120,000
- Gross Rent: £3775 pcm
- Refinance: £645k
- Money left in the deal: £135k
- Gross rent: £6725
- Net cash flow: £3500
- Return on cash: 31%
Property Id : 19445
$ 1.00
per month- Principal and Interest
- Property Tax
- HOA fee
$ 0.00
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