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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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