3 BED HOUSE £60k PA RENTAL POTENTIAL - London

3 BED HOUSE £60k PA RENTAL POTENTIAL

Quick Sale. Larger than average extended, 2 reception, 3 bedroom, 2 family bathroom, off road parking for 6 cars in London Borough of Hounslow.

Below market value freehold property located in a very popular area with great transport links, within a quiet cul de sac in West London near Norwood Green Hounslow and Southall.

Close to bus stops, piccadilly line tube station, local schools, M4, A4, Heathrow Airport, Southall Crossrail Station, Stockley Park, Hounslow, Southall and Hayes town centres.

Properties in this area are in high demand with a good rental market, lots of professionals and families looking to settle.

Complete strip out with major renovation carried out a couple of years ago work included, main chimney stack removed, all chimney breasts removed, plaster and skim over all internal walls, doors and skirtings replaced, new wiring, new plumbing, new combination boiler, garden partly pathed and new roof tiles, flashing with all new guttering and drainage installed, ground floor marble flooring installed and tiled floor in kitchen area.

The property has two extensions one to the front with a pitched roof making the entrance area and first reception room more spacious and another to the back where the kitchen and dining room are now located, there’s scope to extend further still.

To the front is a dropped kerb and driveway that can accommodate 6 cars.

Current rental income is £1,750 pcm but an income of £5,000 pcm / £60,000 with a yield of over over 12% per year is very easily achievable, see further below.

The garden wraps around the rear and to the side of the property and is accessed via patio doors from kitchen extension or from the front via an unshared entrance, this area can be utilised to build a double storey extension, the loft space has the required head height and is adequate for conversion into either two more bedrooms or one master suite.

There’s a few options that can be very lucrative.

1. Not much work required to make a HMO conversion with up to 6 units under permitted development producing a rental income of circa £60kpa, please note that the property is not in an Article 4 area so only a license is required, no planning permission needed.
2. Maisonette conversion of one with two bedrooms worth £350k+ and one with three bedrooms worth £430k+..
3. A light renovation costing no more than £10k and placing back on to the market for a quick profit at £585k.

The garden space to the side of the property and the off road parking for 6 cars does make planning application for a maisonette conversion very easy to obtain.

Once cleared out it is a tidy, well designed and very spacious property, will be sold without tenants as tenancy ends second week of November.

The property layout is already pre-designed to accommodate for 6 studio units each with own bathrooms and kitchens all windows, sewage and drainage are exactly where they need to be, more than enough space left for a communal kitchen and laundry area as well.

No damp or any structural issues just needs a little modernising to make into a desirable and large family home or there’s the other more profitable options as listed above.

This is an excellent opportunity not to be missed in an extremely popular and sought after area.

Quick sale needed.

Open to offers over £479,000.

No chain.

Ready buyers with no onward chains only.

No agents please.

Call 07847-218297

Posted on : last year, #41, 2 views, Edit

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