This well-maintained 6-bedroom HMO is located conveniently near the center of Coventry, making it an attractive investment opportunity. The property has been fully compliant and currently operates with a strong existing income stream, but also presents numerous avenues for value enhancement.
The layout includes 6 bedrooms and 5 bathrooms (with 3 en-suites) that are optimized for rental appeal. With proper licensing and a Certificate of Lawfulness in place, this property adheres to local regulations within the Article 4 region.
There are significant opportunities to increase revenue: you could convert additional rooms into en-suites to maximize rent potential. The basement area is primed for development, pending planning approval, which could add further living space or storage options. Additionally, there is already granted planning permission for transforming the property into three 2-bedroom apartments, presenting various exit strategies.
Currently, the property boasts a gross annual income of £42,000 with a consistent track record of occupancy and no void periods. Developing the basement could raise total earnings to £48,000 annually, contributing to a noteworthy gross yield of 12%. The location is strategic for attracting both students and young professionals due to its proximity to universities and essential amenities as well as transport links.
Given its below-market pricing, this property represents a unique chance for investors looking to expand their portfolio while taking advantage of future growth potential. Early viewings are recommended to fully grasp both current earnings and future possibilities.
