Summary - Harwell Street, Plymouth PL1 5BN
16 bed 16 bath End of Terrace
High-yield student lets walking distance to university and city amenities.
16 en‑suite bedrooms across three self-contained apartments
This prominent three‑storey corner property on Harwell Street is arranged as a 16-bedroom, 16-bathroom multi-let HMO across three self-contained apartments. Recently renovated and well presented, it is fully operational and currently producing a gross income of £103,500 when fully let — an approximate 12.9% yield on the guide price. The layout maximises lettable rooms and includes a small forecourt with off-street parking for several cars, a rare city-centre convenience.
The building benefits from period character, high ceilings and large front windows, with many bedrooms en-suite and a contemporary fitted kitchen. Double glazing has been installed post-2002 and communal services are on mains gas. Broadband and mobile signal are excellent, supporting student or professional tenancies drawn to the nearby university and city-centre amenities.
Buyers should be aware of material negatives: the property sits in a very deprived area with high local crime levels, and external amenity space is minimal — no substantial private garden. Construction walls are likely original granite with assumed no external insulation, so thermal performance may be limited. Council tax is described as quite expensive, and three separate EPC ratings are noted (C, C, D). These factors may affect operating costs and longer-term refurbishment planning.
For a buyer focused on secure income and hands-on portfolio growth, this building offers immediate returns and scope for operational optimisation. It is best suited to an investor experienced in multi-let HMO management who can balance strong cashflow against area and maintenance considerations.
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