Guide Price £280,000 – £290,000
Edith Avenue is a substantial six bedroom licensed HMO investment arranged across three floors and extending to approximately 2,240 sq.ft. of accommodation. The layout works extremely well as a shared professional house with generous bedroom sizes, well-balanced communal space and strong ongoing tenant demand within this part of Plymouth. The property is managed in-house by Francis Stuart and is already established as an income-producing investment.
The property is currently generating £37,680 per annum (£3,140 pcm) with the benefit of good room sizes and a layout that suits professional sharers. Running costs are approximately £8,534 per annum, producing an estimated net income of around £29,146 per year before maintenance, voids or management.
The property benefits from a HMO licence valid until November 2029, EICR valid until October 2029 (with a new consumer unit installed following the most recent inspection) and a current gas safety certificate valid until January 2026, providing reassurance from a compliance perspective.
Based on the current income, the property offers gross yields of approximately 12.99% – 13.46% gross yield depending on purchase price, positioning it as a strong and established HMO investment opportunity within Plymouth’s consistently performing rental market.
Rental Income Breakdown
Room 1 – £500 pcm
Room 2 – £490 pcm
Room 3 – £565 pcm (couple)
Room 4 – £525 pcm (currently advertised as becoming vacant)
Room 5 – £480 pcm
Room 6 – £580 pcm (couple)
Current Monthly Income – £3,140 pcm
Current Annual Income – £37,680 per annum
Running Costs
Gas & Electric – £289 pcm (Octopus Energy)
Water – £186 pcm (£1,860.61 per year – unmetered)
Council Tax – £181 pcm (£1,808.67 per year paid over 10 months)
Internet – £55.20 pcm (Virgin Media Business Fibre Voom 800)
Total Monthly Running Costs – £711.20 pcm
Total Annual Running Costs – £8,534 per annum
Estimated Net Income
£37,680 annual income minus £8,534 running costs £29,146 approximate net income per year
(before maintenance, voids or management)
Compliance & Certification
HMO Licence Valid until 3rd November 2029
Electrical Installation Condition Report (EICR) Valid until 20 October 2029
(last completed 21 October 2024 including remedial works and installation of a new consumer unit)
Gas Safety Certificate Valid until January 2026
Certificate of Lawful Use (COLU):
The seller advises that the property has been operated as a licensed HMO for a number of years, with supporting documentation in place dating back to 2009. Whilst a Certificate of Lawful Use is not currently held, the seller is comfortable that the evidence demonstrates established use. This can be discussed further with any prospective buyer.
