Summary - 22 ILBERT STREET PLYMOUTH PL1 5AA
5 bed 2 bath End of Terrace
Gross income £28,800pa from five lettings, fully let to professionals
This licensed 5‑letting‑room HMO in Stonehouse offers immediate rental income and strong central location appeal. Fully let to working professionals on 12‑month tenancies, it produces a gross income of £28,800pa and sits close to Plymouth Train Station and city centre — convenient for commuters and students who prefer professional houseshares.
The building is a traditional late‑Victorian end‑terrace with solid granite/whinstone walls and double glazing; interiors are serviceable with a modern kitchen, separate laundry room and two bathrooms. There is scope to add a sixth letting room to increase income further. At the asking price of £225,000 the current gross yield is attractive for investors seeking immediate cashflow.
Buyers should note material drawbacks frankly: the area is classified as very deprived with high local crime, the plot is small with only an enclosed rear courtyard (no garden), and the property currently has an EPC rating of D. The stone walls appear uninsulated which may limit energy performance without intervention. Moderate refurbishment and energy upgrades will likely be required to improve tenant appeal and running costs.
This is a straightforward, let‑now investment with short‑term upside from an added room and longer‑term upside from targeted modernisation and insulation works. It suits investors comfortable managing an inner‑city HMO in a constrained neighbourhood rather than buyers seeking a tranquil family garden home.
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