Romans are pleased to bring back to market this large 5-bedroom terraced house as an attractive investment opportunity or substantial family home situated in the heart of Hastings Town Centre.
The property comprises 5/6 bedrooms (6 for HMO purposes) living room, kitchen, 2 separate WC’s, 1 en suite and 1 family bathroom as well as 2 small courtyard areas to the rear. Having been utilized previously as a HMO the property still maintains many of the facets needed for a re-conversion having more recently been used as a family home. Portions of the property require some updating however it is generally in good living condition and provides spacious accommodation which is guaranteed to be in demand owing to its favorable location within walking distance of local amenities, bars/restaurants, transport links, Sussex Coast College Hastings, Hastings Old Town, the sea front promenade and several major local employers.
Up to date street check data shows the area containing Devonshire Road, Hastings contains a higher than average level of rented housing (excluding social housing) – with 84% of household spaces being rented. Whilst 106 of the 141 residents currently living on Devonshire Road are housed within single occupancy dwellings further supporting the analysis that the property would be a prudent investment for a landlord.
A current rental appraisal shows that the property when tenanted either as a HMO or single dwelling should generate the following income –
Single dwelling – £995pcm
12 x £995 = £11,940pa
With a yield of 4.8%
6 Bedroom HMO*
£345pcm x 6 = £2070pcm
12 x £2070 = £24,840pa
with a Yield of 10.6%
*Subject to relevant planning