4 Heber Road, London, Cricklewood, NW2 6AA
Guide Price* : £910,000
Residential Investment Opportunity
- High Yielding HMO Investment
- Fully licensed
- Five Letting Rooms - With Development Potential (Subject to Planning)
- 1,507 sq ft (140.00 sq m)
- Currently let on five separate ASTs producing £59,472 per annum
- Guide Price of £910,000 reflects a Gross Yield of 6.54%
- ERV of circa £76,800 provides Gross Yield of 8.44% when fully let
The property comprises a fully licensed, end of terrace, Home in Multiple Occupation (HMO). The property provides five lettable rooms with a total area of 1,507 sq ft (140.00 sq m)* arranged across ground and first floors with in one of the rooms a mezzanine creating additional areas in the loft space. All the rooms come with an en suite bathrooms and are fully licensed with the correct certification (please see legal documents).
The ground floor comprises two rooms and the shared kitchen, with a utility room and WC. The kitchen provides access to a rear garden and a storage room, we understand this may have previously been used as an additional letting room but does not have planning consent, we envisage it could be used as such subject to planning or indeed a rear extension could be erected to provide additional accommodation (subject to planning).
The first floor comprises an additional three letting rooms, all with ensuite bathrooms.
*Note, floor areas are from property EPC and are not to be relied upon.
The property is located in the heart of Cricklewood which is to the north of London. Cricklewood Broadway, the local High Street, within walking distance and providing numerous local amenities such as Costa Coffee and Tesco.
The property benefits from excellent transport links with Cricklewood Railway Station and Willseden Green underground station less than a ten minute walk away. Futhermore, the A407 provides access to both the A41, and by extension the M1 motorway, as well as the North Circular and A40.
Refer to the legal documentation
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton December 2023
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
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