Summary - 101 Walbrook Road DE23 8SF
6 bed 4 bath House of Multiple Occupation
Refurbished 6-bed HMO with strong income in a tenant-favoured Derby location.
Gross income £36,420 PA; gross yield c.11.56%
A turnkey HMO investment on Walbrook Road, fully refurbished back to brick in 2023 and offered as a compliant six-bedroom, four-bathroom let. The property is let (or market-ready) to deliver a gross income of £36,420 per year, producing a headline gross yield of about 11.56% at the asking price. The layout across three floors gives six double rooms, multiple en suites and an open-plan kitchen-diner — attractive to professionals and students given the short walks to the university, hospital and city centre.
The building retains period character with Victorian bay windows, high ceilings and decorative cornices, but the 2023 works mean services, kitchens and bathrooms have been modernised. It is freehold and benefits from mains gas central heating, double glazing and fast mobile/broadband connectivity — features that support lettability and reduce immediate capital expenditure for a new owner.
Material considerations are explicit: the property sits in a very deprived ward with above-average crime statistics, and the local planning environment includes an Article 4 direction affecting changes of use (limits future HMO conversions/extensions). Construction is original solid brick with no confirmed wall insulation (insulation retrofit may be needed). The plot is small and there is no private garden of note. A refundable reservation fee of £500 is stated to secure the sale.
This is a specialist buy for an investor seeking immediate income and hands-off returns via an established HMO configuration and recent refurbishment. It suits owners comfortable operating in higher-demand, city-centre rental markets and who have awareness of local area challenges and planning constraints.
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