This expansive former guest house presents a noteworthy opportunity for investors looking to acquire an established House in Multiple Occupation (HMO) in a highly sought-after area of York. The property, a Victorian brick-built terrace from around 1890, has successfully operated as both a bed and breakfast and, more recently, as an HMO since January 2022, demonstrating strong demand with minimal vacancy rates. Currently configured with six en-suite bedrooms, the property benefits from planning permission to operate as a small HMO, with potential for expansion to seven bedrooms through minor bathroom adjustments. There is further scope to increase occupancy to eight bedrooms pending relevant approvals and internal modifications.
The existing layout features well-sized communal areas alongside the bedrooms, making it conducive for multi-tenant living. This property not only stands out due to its operational history but also promises substantial income potential; current gross rental income approximates £55,800 per annum with projections increasing to around £64,200 upon the addition of the seventh room. Located conveniently near York city centre, York St John University and key transport links, it is well-positioned to attract consistent tenant interest. The surrounding area offers on-street permit parking options as well.
In summary, this property represents a unique investment opportunity with clear pathways for revenue growth and operational efficiency in one of York's most desirable locales.
