Property for sale in Layton Avenue, Mansfield, Nottingham NG18

Pinewood Properties are delighted to present this renovated HMO investment opportunity. The property has been converted into 5 x units, some with Ensuites producing c. £28,950 pa for a gross yield of 11.56%.

Mansfield is a large market town with a population of over 100,000, set around 12 miles north of Nottingham City Centre. It lies around 6.8 miles east of the M1, has a train station on the Robin Hood Line along with regular bus routes to Nottingham City.

The property is a Three Storey 1920’s Semi-Detached property, consisting of 5 units with 1 unit from the original entrance and the remaining 4 units set over a further 2 floors. The property has been excellently renovated with significant attention to detail. Two units benefit from their own Ensuite shower rooms, the ground floor has its own shower cubicle and 2 units on the first floor share a stunning shower room.

The ground floor has a superb kitchen and dining room, the kitchen has a range style cooker along with a standard hob and oven giving plenty of space to cook and prepare food. Just off the kitchen is a handy utility with pay meter washing machines and a ground floor WC.
The vendor has achieved full occupancy following its renovation, producing the below income;

Room No 1 - £460 pcm
Room No 2 - £425 pcm
Room No 3 - £430 pcm
Room No 4 - £480 pcm
Penthouse Room No 5 - £615 pcm
Summary income = £2410 pcm (£28,950 pa)

The property received a new HMO license, set to expire in 2026 (new owners would need to re-apply). The property is not located in an area with Article 4 and the property has full building control sign off. The vendor would also offer to retain management services should they be requested.
Pinewood have managed this property along with the landlords for several years and think this is one of the best of its kind, please contact the office for further details.