No longer on the market
This property is no longer on the market
Map11 bedroom house
Auction
House
11 beds
3 baths
3110
EPC rating: D
Key information
Tenure: Freehold
Council tax: Ask agent
Broadband: Ultra-fast 1000Mbps *
Mobile signal:
EEO2ThreeVodafone
Features and description
- Other
Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £495,000
An exceptional investment opportunity on Lipson Road, Plymouth, this spacious and well-presented 11-bedroom HMO (House in Multiple Occupation) offers a fantastic potential return. Set over three floors, the double-fronted property features 9 generously sized double bedrooms, making it ideal for student accommodation or professional tenants.
The house benefits from 2 fully-equipped kitchens and 3 modern bathrooms, ensuring ample facilities for tenants. With a gross rental income of £5,270 per month, this property promises a solid income stream. Located just a short walk from Plymouth city centre, the property is ideally positioned for access to local amenities, transport links, and educational institutions.
Income Breakdown (Monthly):
Room 1: £475.00
Room 2: £500.00
Room 3: £410.00
Room 4: £380.00
Room 5: £430.00
Room 6: £485.00
Room 7: £450.00
Room 8: £455.00
Room 9: £435.00
Room 10: £390.00
Room 11: £430.00
Total Monthly Income: £4,840
Annual Income: £58,080
Expenditure Breakdown (Monthly):
Light/Power/Heating/Water: £520
Council Tax: £156
TV/Media/Internet/Telephone: £39
Cleaner: £72.15
Management: £696.96
Total Monthly Expenditure: £1484.11
Annual Expenditure: £17809.32
Net Annual Income: £40,280.68 (calculated as Total Income - Total Expenditure)
Gross Yield: 11.73% (calculated as Annual Income / Guide Price)
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
An exceptional investment opportunity on Lipson Road, Plymouth, this spacious and well-presented 11-bedroom HMO (House in Multiple Occupation) offers a fantastic potential return. Set over three floors, the double-fronted property features 9 generously sized double bedrooms, making it ideal for student accommodation or professional tenants.
The house benefits from 2 fully-equipped kitchens and 3 modern bathrooms, ensuring ample facilities for tenants. With a gross rental income of £5,270 per month, this property promises a solid income stream. Located just a short walk from Plymouth city centre, the property is ideally positioned for access to local amenities, transport links, and educational institutions.
Income Breakdown (Monthly):
Room 1: £475.00
Room 2: £500.00
Room 3: £410.00
Room 4: £380.00
Room 5: £430.00
Room 6: £485.00
Room 7: £450.00
Room 8: £455.00
Room 9: £435.00
Room 10: £390.00
Room 11: £430.00
Total Monthly Income: £4,840
Annual Income: £58,080
Expenditure Breakdown (Monthly):
Light/Power/Heating/Water: £520
Council Tax: £156
TV/Media/Internet/Telephone: £39
Cleaner: £72.15
Management: £696.96
Total Monthly Expenditure: £1484.11
Annual Expenditure: £17809.32
Net Annual Income: £40,280.68 (calculated as Total Income - Total Expenditure)
Gross Yield: 11.73% (calculated as Annual Income / Guide Price)
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
About this agent
If you are considering selling your home or already have it listed on the market, naturally, your goal is to secure the highest possible price with minimal effort. Acquiring the skill to discern the actions that lead to a premium price and those that are a waste of time and money takes considerable experience. While selling a property might seem straightforward, achieving a premium price is a different challenge altogether. Fortunately, we’re here to unveil some of our trade secrets through this comprehensive 13-step guide to success. A significant part of achieving success lies in the art of marketing, promotion, and viewing strategy. While presenting your property in perfect condition is crucial, neglecting these essential steps could hinder you from achieving the desired sale. Our success stems from diligently following these steps with each sale, resulting in consistently above-average national sales records. These steps go beyond simply listing the property on platforms like Zoopla or Rightmove and waiting for a sale to happen. While some agencies may opt for a quick and basic approach, we believe that our years of experience provide us with a competitive edge, enabling us to secure better value sales.