Kensington Road, Mutley, Plymouth

Property features

• 4/5 BED HMO - A MUST VIEW
• High-yield investment – Generates £24,050 per annum with a 10% gross yield.
• Four large study bedrooms, all with double beds, ethernet, and TV points.
• Spacious communal lounge with a large flat-screen TV.
• Fully Let for 2024/25-2025/26.
• Two bathrooms – one with a bath and WC, plus an additional shower room with WC.
• Prime student location – just behind Aldi and close to Plymouth University.
• Council Tax Band: NA
• Tenure: Freehold
• EPC: TBC

Summary

Offers in Excess of £240,000 A fully tenanted four-bedroom HMO in a prime student location, generating £24,050 per annum with a 10% gross yield. Previously a five-bed licensed HMO, it now offers four large study bedrooms, a spacious communal lounge, a modern kitchen, and two bathrooms. Situated just behind Aldi, it’s within easy reach of Plymouth University and local amenities. A fantastic turnkey investment for buy-to-let landlords. Contact us today to arrange a viewing.

Details

SUPERB INVESTMENT OPPORTUNITY - HIGH-YIELDING STUDENT HMO OR SALE - FULLY TENANTED 4-BED HMO - KENSINGTON ROAD, PLYMOUTH
Offers in Excess of £240,000 - Sold as a Going Concern

This fantastic opportunity offers a fully tenanted 4-bedroom HMO, providing a strong rental return and excellent long-term investment potential. Previously a 5-bedroom licensed HMO, the property has been reconfigured into a 4-bedroom home with additional communal space, appealing to student tenants seeking a more comfortable living environment. The property is fully let for the next academic year, generating a rental income of £24,050 per annum. At the asking price, this offers a strong gross yield of approximately 10%. The property has proven to be consistently popular with students due to its location and layout, which includes four large study bedrooms, all with double beds, hardwired Ethernet, and TV points. Room 4 benefits from its own study/lounge area, while the spacious communal lounge comes equipped with a large flat-screen TV. The modern fitted kitchen includes appliances, and there are two bathrooms - one with a bath and WC, plus an additional shower room with WC. Permit parking is available nearby.

The property is situated in an exceptional student hotspot, just behind Aldi and a short walk to the University of Plymouth, surrounded by local amenities such as shops, pubs, and restaurants. There are excellent transport links to the city centre and beyond. This presents an outstanding investment opportunity for both experienced landlords and those looking to expand their buy-to-let portfolio.

The property is fully let until 3rd August, with a new tenancy secured from 1st September on a 50-week contract. The gross annual rental income is £24,050. The annual running costs for gas and electric are £1,582, water is £1,298 (non-metered at £108.18/month), broadband costs £54/month for 350 mbps (with 450 mbps available for £35 + VAT), and the TV licence is £174.50/year. There are no management costs. After deducting the annual running costs of £4,108.50, the net income for the property is £19,941.50. With a purchase price of £240,000, this results in a net return of approximately 8.48%.

Contact us today to arrange a viewing or discuss further details.

Included with the student property is a full range of furniture and white goods, such as sofas, tables, beds, mattresses, and kitchen appliances. This does not include personal belongings, but the inclusion of all essential furnishings provides excellent value for money, saving tenants and prospective buyers the significant cost and hassle of purchasing these items themselves.

MUTLEY PLAIN: is a vibrant and bustling main street in Plymouth, Devon, at the heart of the popular Mutley area. Originally developed as a smart, tree-lined avenue in the late Victorian era, it has evolved into a thriving hub of shops, cafés, bars, and essential amenities. Serving as a key route through the city, the B3250 dual carriageway runs through Mutley Plain, featuring multiple pedestrian crossings for easy access to its many businesses. Conveniently located between Plymouth's city centre and the affluent northern suburbs, Mutley Plain remains a sought-after area for residents, students, and professionals alike.


PLYMOUTH: Britain's Ocean City, is one of Europe's most vibrant waterfront cities. Located by a stunning waterfront and harbour, Plymouth is the perfect place to buy property.

VIEWINGS: We anticipate high demand for this property and advise early viewings to avoid disappointment. All applicants will be subject to a rigorous registration/ financial verification process. Viewings will be booked by appointment only, and are subject to availability. For more information, please call 01752 875075.


STAMP DUTY LAND TAX: Stamp Duty Land Tax (SDLT) or Land and Buildings Transaction Tax (LBTT) may apply in certain circumstances. Buyers are advised to check their liability before proceeding with a purchase.

SERVICES: Mains gas, electricity, water and drainage.

GENRERAL PROPERTY DESCRIPTION: Whilst every effort has been made to ensure the accuracy of these details, we cannot guarantee their completeness or correctness. Buyers are advised to conduct their own investigations before making any financial commitment.

CITY COUNCIL TAX BAND: We understand this property falls within Plymouth City Council Tax Band N/A. However, buyers should verify this information directly with Plymouth City Council before making any decisions.

SERVICES: Mains gas, electricity, water and drainage.