Plodder-Lane-Bolton

Investment Property Description for 455 Plodder Lane, Bolton BL4 0JU

This well-maintained, fully tenanted, and high-performing 5-bedroom HMO (House in Multiple Occupation) property, located at 455 Plodder Lane, Bolton BL4 0JU, offers an excellent opportunity for property investors seeking a reliable income stream. The property is generating a rental income of £2,885 per month, translating to an annual rental income of £34,620.

The property has already been converted to a 5-bedroom HMO, with all relevant licenses in place. A full HMO license is already secured, and an application has been submitted to the council for a Certificate of Lawfulness for the conversion. This ensures the conversion was done correctly and by local regulations, providing peace of mind for any potential investors.

The property features 5 spacious, ensuite bedrooms, providing modern and comfortable living spaces for tenants. Each bedroom has its private bathroom, making it an attractive option for professional tenants. There is also a communal kitchen with ample kitchen appliances and storage space. To the rear of the property is a large yard.

Currently, the property is fully tenanted, ensuring immediate returns for the next owner. The managing agent, Abode, is in place to oversee the property’s day-to-day management, with a management fee of 10% of the monthly rental income.

Financial Breakdown:

Rental Income:

• Monthly rental income: £2,885
• Annual rental income: £34,620

Outgoing Costs:

• Council Tax: £1,427.38 per annum
• Gas & Electricity: £252.20 per month / £3,026.40 per annum
• Broadband: £46 per month / £552 per annum
• Water Charges: £50 per month / £600 per annum
• Managing Agent Fee (10%): £288.50 per month / £3,462 per annum
• Total Annual Outgoings: £9,067.78
• Annual Rental Income: £34,620
• Net Annual Income: £25,552.22
• Gross Yield = 13.3%
• Net Yield = 9.8%

Summary:

• Gross Yield: 13.3%
  Net Yield: 9.8%
  Asking Price: £260,000