A large and fully licensed HMO that brings in rents of £48,000 a year is expected to prompt competitive bidding in Bond Wolfe’s next auction.
The eight-bedroomed house in multiple occupation in Wolverhampton will have a guide price of £275,000+ in the livestreamed auction on Thursday September 10.
Simon Senior, an auction valuer at Bond Wolfe, says: “This is an established income-producing HMO for investors seeking a fully licensed residence with immediate returns and long-term potential.
“The property is currently fully let and generating a gross annual income of £48,000 which we expect to catch the attention of multiple bidders at our auction.”
The ground floor of the property has a hallway, three individual bedrooms, a communal shower room and toilet, and stairs to the first floor.
The first floor has a landing, three individual bedrooms, and office, communal kitchen, communal bathroom and separate communal toilet.
On the second floor is a landing, study, two individual bedrooms, a communal bathroom and communal kitchen.
This HMO property is among 187 lots that are due to appear in the auction.
For more details and to register to bid visit https://www.bondwolfe.com/auctions/properties/.
This article is taken from Landlord Today