This 3 bedroom Victorian terrace house is in an up and coming area of Liverpool and was previously inhabited by a single occupant. We were able to secure the property through one of our industry contacts at a competitive purchase price.
The house was in fair condition but required an extensive bill of works in order for it to be used as its intended purpose of Multi Let (4 rooms rented out). Whilst a BRRR strategy was executed, the cost of the refurbishment meant that not all of the investment could be extracted upon refinance. The property was secured in April 2019.
During the pre-construction phase several ideas were considered, making use of the space and re configuring to remedy some existing design faults. The Kitchen was opened up to form a kitchen diner and the outhouse was knocked through to form a utility room/WC off the dining room. The downstairs living room has had barn doors applied and is now a fourth bedroom. Upstairs the box room was enlarged to ensure HMO compatibility (possible future configuration) and the converted loft was reconfigured to ensure maximum usage of space. Vaulted ceilings were inserted to ensure rooms were soundproofed and fire door frames fitted throughout. A new bathroom and kitchen were installed. The property is now a full 4 bed Multi Let property generating the investor approx. 18% return.