HMO in PL4

Sea View Terrace, Plymouth, Devon, PL4 8RN

Brochure

Tenure: Freehold

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Starting bid£270,000

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Key Information

Parking: On Street

Property features

Fully Licenced HMO
Rental income £38,000
7 Bedrooms
Investment Opportunity
Freehold Property

HMO in PL4

For sale via secure sale online bidding - terms and conditions apply.

This fully occupied and licensed House in Multiple Occupation (HMO) presents an excellent turnkey investment opportunity for discerning investors seeking a high-yielding and relatively hands-off addition to their portfolio.

The property offers seven generously sized double bedrooms and is ideally positioned within easy walking distance of Plymouth University, the vibrant City Centre, and the ever-popular Mutley Plain. This highly convenient location ensures strong and consistent tenant demand, with a wide range of shops, restaurants, bars, and transport links all close by.

Arranged over three floors, the property provides spacious and well-planned accommodation throughout. The ground floor comprises two double letting rooms, along with a large communal kitchen and lounge area that serves as a social hub for residents. A convenient downstairs W.C. and a separate utility room complete the ground floor.

The first floor features three further double letting rooms, as well as two modern shower rooms, each fitted with a walk-in shower, W.C., and wash basin.

On the second floor, there are two additional double bedrooms along with a delightful roof terrace, offering residents a private outdoor space to relax and unwind.

Externally, the property benefits from a small communal courtyard, providing additional outside space for tenants. There is also convenient on-street permit parking available to the front of the property.

This substantial seven-bedroom HMO represents a rare opportunity to acquire a fully licensed investment property in a prime location, currently generating an annual income of approximately £38,000.

Internal viewings are highly recommended to fully appreciate the size and potential of this impressive property.

Please note the property would benefit from some maintenance, which is reflected in the asking price.

Some furniture belonging to tenants has been digitally removed from the photographs using AI to better demonstrate the scale and proportions of the rooms.

Description

A fully occupied and licensed House in Multiple Occupation (HMO)

Location

Within walking distance of Plymouth University, the vibrant City Centre, and the ever-popular Mutley Plain.

Tenure

Freehold - TITLE NUMBER: DN170323

Additional Information

For further information please contact our office directly on 0191 737 1154, or alternatively via email on commercial@pattinson.co.uk. With regards to viewing subject property, this is to be done strictly by appointment.

Open map Street view

This property is being sold subject to unconditional reservation fee auction terms and conditions.

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable.

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £6,000 + VAT (£7,200 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

More Information

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:

My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.

If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.

Any amount payable at the close of the auction must be paid within 1 hour.

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.

Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.

The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.

It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.

The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.

Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions.

More Information is available:

For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk

Please log in to view and download the legal pack files.

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