Large 4 bedroom Property

Swift estate agents on Mutley Plain has just listed this 4 bedroom property which is just located off Embankment road for £147,750. Due to size of this property and the location this would lend it self to a being a HMO - A House in Multiple Occupation.

A HMO is when a property is shared between tenants who just rent a room in a house and share bathrooms, kitchen and a lounge.

With the correct configuration it should be possible to make a 6 bedroom HMO property. The property could require work in order to bring it up to the required standards of safety for a 6 bed HMO over 3 floors. If the property has not been used as a HMO since September 2012, then under Plymouth City Council Article 4 direction planning permission would also be required.

This all may seem a little daunting for a lot of people, but when you consider that the gross rent from 6 bedrooms could be in the region of  £2250 a month. This would give a gross yield of 18%. Hassle yes but great yield and cash flow yes.

Not for everyone but to the experienced investor this may be an opportunity to explore further.

More details on the property can be found here http://www.zoopla.co.uk/for-sale/details/33291945

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