6 bed detached bungalow for sale

Earlham Green Lane, Norwich NR5

This fully renovated 6-bed (7 persons) licensed HMO in Norwich's high-demand NR5 area offers an annual income of £36,000, delivering an impressive 9% gross yield at a £400,000 purchase price. Ideally located just a short walk from the University of East Anglia and Norfolk & Norwich Hospital, it attracts strong demand from both students and professionals. The property features solar panels, an outstanding a-rated EPC (96/99), and low annual utility costs of just £2,200, ensuring excellent net returns. Internally, it offers spacious communal areas, two bathrooms plus an additional WC, and potential to convert into four self-contained units for added value. The property has enjoyed full occupancy since 2015 with no voids, supported by minimal maintenance and quiet neighbours. With recent HMO inspection approval and possible interest from the council for alternative letting schemes, this is a turnkey, low-risk investment in one of Norwich’s most consistent rental hotspots.

The Location

Located in the thriving and consistently in-demand NR5 area, Earlham Green Lane offers a highly strategic position for an HMO investment. Just a 10-minute walk to the University of East Anglia (uea) and close to the Norfolk and Norwich University Hospital, the property is perfectly placed to attract a strong mix of both student and professional tenants year-round. This dual demand ensures a resilient rental market with low risk of void periods—something the property has already proven with full occupancy since 2015.

Local amenities are abundant, with a range of shops, takeaways, supermarkets, gyms, and green spaces all within easy reach. The Earlham Green shopping parade, multiple bus stops, and cycle routes make it easy for tenants to commute across Norwich, including to the city centre, which is just 15 minutes away by bus or bike. The A47 and A11 provide excellent road connectivity for those working in or travelling to Cambridge, London, or wider Norfolk.

With quiet residential surroundings and a community-oriented feel, this location provides a balance of rental strength and tenant satisfaction—making it not just a strong income generator, but a smart long-term asset.

Earlham Green Lane, Norwich

This fully renovated and high-performing HMO generates a strong gross rental income of £36,000 per year (approx £3,000 per month), with tenants secured on contract until September next year—providing an income stream for the next 12 months. At a purchase price of £400,000, the property delivers an attractive 9% gross yield, making it a highly appealing option for yield-focused investors.

The property is licensed for seven occupants, with one room large enough to accommodate a couple, ensuring full occupancy potential and compliance under its current HMO license, valid until 2029.

The home has been recently upgraded, including a new EPC completed in June 2024—rated an exceptional A (96/99). Energy efficiency is maximised with solar panels, drastically reducing utility expenses. Total annual outgoings are impressively low at approximately £2,200 for all utility bills, including around £400 on electricity, offering outstanding net returns.

Internally, the property features a spacious and well-laid-out communal area, with a large living room flowing seamlessly into a bright conservatory. The property includes two bathrooms and an additional WC, catering comfortably to the number of tenants. The large rear garden and patio areas provide further lifestyle appeal, and there's potential to reconfigure the layout into four self-contained units with private bathrooms, adding further value and rental uplift potential.

With minimal maintenance, quiet and respectful neighbours, and a track record of full occupancy since 2015 with zero void periods, this is a truly hands-off, income-generating asset. The property has recently passed its HMO inspection in June 2024, ensuring peace of mind for any incoming investor.

In addition, the local council has expressed interest in using the property for housing, including potential schemes involving immigrants—offering an alternative, secure tenant base if desired. This is a rare opportunity to acquire a turnkey HMO investment with excellent income, low running costs, and significant long-term upside.

Agents Note

Sold Freehold

Connected to all mains services.

EPC Rating: A