Plymouth, PL1 2HR | Investment Property for Sale | VES-PL1-001

Opportunity to purchase a HMO property in Plymouth generating £56,076 rent pa & gross yield of 9%

£620,000

HMO Semi-Detached House

VES-PL1-001

INITIAL INVESTMENT

£197,100

Based on

deposit: £155,000

stamp duty: £39,600

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£56,076

GROSS YIELD

9.0%

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The property

TENANCY

Tenanted

TENURE

Freehold

11 bedrooms

11 bathrooms

3 reception rooms

3,218

Fully Furnished

Property information

  • HMO licence for 11 persons in 11 rooms
  • All rooms have their own ensuite shower room
  • 3 shared kitchens
  • 2 kitchenettes (one per studio room)
  • 3 shared reception rooms
  • Shared rear garden
  • EPC rating D

Rental information

  • Room 1 - double room - £348 pcm
  • Room 2 - single room - £325 pcm
  • Room 3 - double room - £390 pcm
  • Room 4 - studio - £650 pcm
  • Room 5 - studio - £650 pcm
  • Room 6 - double room - £390 pcm
  • Room 7 - double room - £390 pcm
  • Room 8 - double room - £390 pcm
  • Room 9 - single room - £360 pcm
  • Room 10 - double room - £390 pcm
  • Room 11 - double room - £390 pcm
  • Total rent pcm: £4,673
  • Total rent pa: £56,076

Running costs

The vendor provided us with the following running costs for this property:

  • Council tax: £146 pcm
  • Gas: £430 pcm
  • Electricity: £235 pcm
  • Water: £270 pcm
  • Wifi: £66 pcm
  • Total cost pcm: £1,147
  • Total cost pa: £13,764

Location information

  • The property is just a 10-minute walk outside of the city centre
  • Plymouth marina is also just half a mile from the property
  • Hoe Park is a short walk from the property
  • Plymouth railway station is 1 mile from the property and can easily be reached on foot or by public transport

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Plymouth, Devon

Plymouth is a city located in the county of Devon on the south coast of England, approximately 37 miles south-west from Exeter and 190 miles west-south-west of London.

This city is serviced by Plymouth railway station which is managed by Great Western Railway and also operates services by CrossCountry. The majority of services are trains on the Cornish Main Line served by Great Western Railway from London Paddington, some of which terminate at Plymouth, but a few continue over the Cornish Main Line to Penzance. The Cornish Riviera also utilises this route, providing a fast London to Penzance service in around 5 and a half hours. Cross country services are mostly from Scotland or the north of England via Bristol and terminating at Plymouth. Travelling around the city is effortless thanks to regular bus services provided by Plymouth Citybus, Stagecoach South West and Target Travel.

Plymouth city centre is a modern and pedestrianised area, offering the largest centre for shopping in the south west outside of Bristol. There is a vast array of attractions, entertainment and sightseeing to do around the centre as well as the large abundance of restaurants, bars and pubs. All of one’s shopping needs can be serviced in this city centre, form independent shopping in the West End and Plymouth market to the modern Drake Circus, there is truly something for everyone.

Plymouth city centre has much to offer in terms of job opportunities also, as this contemporary city centre continues to grow and require more individuals to manage the hospitality industry. There are also many large businesses in Plymouth that employ thousands of people with in the area such as CDS (Superstores international), Devonport Royal Dockyard Limited and Pennon Group PLC to name a few.

There are many schooling options in the local area for the various phases of education. For a young family potentially looking for local educational solutions for their child, Stuart Road Primary School offers co-ed teaching from age 4-11 and even a nursery. Secondary schools in the area include Devonport High School for Boys and Plymouth High School for Girls, both of which educate up until 18.

Sussex Street,

Plymouth,

Plymouth,

England,

PL1 2HR

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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