6 Bedroom House of Multiple Occupation (HMO) Investment. Scope to Increase Rental Income Approx. £39,600 per annum.

The property is situated in the heart of Torquay, within easy walking distance of a wide range of town centre amenities including shops, restaurants, leisure facilities and public transport links. Melville Street is a well-established residential area popular with tenants due to its proximity to employment opportunities, the seafront and town centre attractions. This location makes the property particularly attractive for HMO use.

The property comprises a mid-terrace 6-bedroom House of Multiple Occupation (HMO), each room benefitting from its own kitchenette, along with 4x shared communal bathroom facilities.

The property is currently partially let, with Rooms 3, 5 and 6 occupied under Assured Shorthold Tenancies at £550 per calendar month each, producing a current income of £19,800 per annum. Fully let, the property has the potential to generate approximately £39,600 per annum, representing a strong yield against the asking price.

The property is considered well suited to investors seeking a manageable HMO with clear scope for improvement and rental growth. The remaining three rooms are vacant and present varying levels of readiness, with one room ready for immediate re-letting, one recently refurbished and one requiring further works, including new carpets and kitchen refitting.  

This provides a clear opportunity for purchasers to enhance the asset through refurbishment of the vacant units and upgrading of communal areas, thereby increasing both rental income and overall capital value.