6 bed terraced house for sale

Penrose Street, Plymouth, Devon PL1

Recently Refurbished 6-Bed HMO £39,120 Annual Income License In Place - Vacant Possession

Offering versatility, modernised accommodation and excellent potential, this recently refurbished six-bedroom property presents an exciting opportunity for both first-time buyers looking for a spacious home and investors seeking an established HMO investment.

Currently arranged as a six-bedroom House in Multiple Occupation, the property has historically generated approximately £39,120 per annum in gross rental income, with bills included within the tenants’ rental arrangements. Having recently undergone refurbishment, including a newly fitted kitchen and modern shower rooms, the property offers comfortable accommodation with flexibility for its next owner.

Arranged over two floors, the accommodation comprises six bedrooms, a communal kitchen, a sitting room and shower room facilities. An HMO licence is already in place, providing an added benefit for buyers looking to continue operating the property as a multi-let investment, subject to the relevant licensing conditions and compliance requirements.

Importantly, all existing tenants have been issued notice, meaning the property is expected to be vacant upon completion. This gives the incoming owner the freedom to consider their plans from day one, whether that involves moving in, exploring alternative accommodation arrangements or continuing to operate the property as an HMO.

For first-time buyers, the property offers the opportunity to acquire a substantial home with generous bedroom accommodation and scope to make it their own. For investors, the established rental history and existing HMO licence provide a compelling starting point for those looking to enter or expand within the HMO market.

Rental Breakdown
The previous room-by-room rental figures were as follows:

Room 1: £575 pcm
Room 2: £550 pcm
Room 3: £550 pcm
Room 4: £575 pcm
Room 5: £495 pcm
Room 6: £515 pcm
Total monthly gross rental income: £3,260

Total annual gross rental income: £39,120

These figures reflect the property's previous rental arrangements and are provided for guidance only. Future rental income will depend on occupancy, achievable rents and the costs associated with operating the property.

Key Highlghts:

Six-bedroom HMO investment
Approximately £39,120 annual gross rental income
Recently refurbished throughout
New kitchen and shower rooms
HMO licence already in place
Established room-by-room rental model
Bills were included for tenants
Two-floor layout with communal living accommodation
The property is an appealing opportunity for investors seeking an income-producing HMO with six letting rooms, modernised communal facilities and an HMO licence already in place. With a stated annual rental turnover of approximately £39,000 in recent years, the property offers an attractive addition to an existing portfolio or an opportunity for investors looking to enter the HMO market.

All rental figures represent gross income before operating expenses, including utilities, maintenance, management, insurance and any applicable compliance costs.