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London HMO, NW6

A large property on Dennington Park rd, this had all the problems you could imagine from being in terrible condition to having an enforcement notice for closure.

At inital inspection it was being let out as 11 rooms without meeting regulations. The approach was to refurbish the property and add an extension to the rear and loft to increase the number of rooms. Once fully completed it became a high end HMO for working professionals for 14 en-suite/kitchenette rooms over 5 floors

Purchase price    £2,000,000

Costs                   £200,000

Refurbishment     £675,000

GDV                     £3,900,000

Income pcm         £15,000

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