Plymouth HMO Property of the Week

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This five bedroom property has just been reduced in price and would make a great HMO investment.

The property is double fronted property close to the the city centre, in the St Judes area. The property would lend itself to the professional market. The property is not as large as some of the other double fronted properties on this street.

From looking at the photos of the property, it needs a full refurbishment. The property currently benefits from one en-suite bedroom, but I feel that a further two en-suites could be added to increase the rental income. i would expect a full refurbishment with two new en-suites would cost in the region of £40,000.

The property is being marketed with Fox and Sons with a guide price of £180,000 to £190,000.

Once this property has been refurbished it will generate an income of £25,200 per annum. Based on a purchase price of £180,000 and refurbishment costs of £40,000, this will give the property a gross yield of 11.5%.

More details of the property can be found on Rightmove here https://www.rightmove.co.uk/property-for-sale/property-61945053.html

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