15 bed semi-detached house for sale

Plymouth, Devon PL2

14-Room HMO Plus Bungalow Generating Up To £88,608 P.A. With Redevelopment Potential.

This property is a rare investment opportunity that combines immediate income generation with substantial potential for future growth. With 14 fully tenanted rooms and a separate semi-detached one-bedroom bungalow generating a total annual income of £83,112 -rising to £88,608 when the advertised room (Room 11) is filled.

This asset is already a strong performer. All tenants are working professionals or semi-retired individuals, ensuring stability and reliable income from the outset. Furthermore, some rental agreements are due for review, presenting a clear opportunity to increase the already impressive revenue stream.

The property is brimming with value-added potential. The detached bungalow, with its own entrance and courtyard, has been continuously let since December 2017, and offers scope for a retrospective planning application to establish it as a separate dwelling. Additional features include private car parking, a generous garden, and further parking spaces, all of which enhance its desirability to current and future tenants.

Strategically positioned for redevelopment, the property offers multiple avenues to maximize its value. Whether it's upgrading existing rooms with en-suite facilities, converting the space into self-contained flats, or redeveloping the site into a modern apartment block with the potential for a dozen or more units, the possibilities are both lucrative and varied.

This is more than just a property-it's a high-yielding investment with untapped potential for even greater returns. With steady income, valuable amenities, and a range of redevelopment options, it stands out as an exceptional opportunity in today's market.