Lawrence Street, York

This is a well-maintained eight-bedroom HMO with a strong existing rental income of £80,367 a year, an HMO licence and a Certificate of Lawfulness. The photographed accommodation looks clean and serviceable; the main scope is optional cosmetic updating to some plain communal and sanitary finishes, with the paved rear area offering limited scope for landscaping. The listing also points to a possible ninth bedroom, subject to the required consents.

The overall opportunity is weaker on price and economics: at £377 per sq ft, the £900,000 asking price is above the local average of £352 per sq ft, and purchase plus the estimated refurb midpoint looks tight against local benchmarks. For a project buyer, the appeal is the established HMO setup and potential to refine or reconfigure it, but the numbers leave limited room for value creation at this asking price.