Summary - 278 WILLINGHAM STREET GRIMSBY DN32 9PY
4 bed 1 bath Terraced
Income-producing terrace with refurbishment upside for cash-buy investors.
Freehold four-bedroom mid-terrace currently let as an HMO
A compact four-bedroom mid-terrace in DN32, currently run as an HMO and offered freehold. The property produces an annual gross income of approximately £7,800 with long-term tenants in situ, presenting a straightforward buy-to-let addition for an investor seeking immediate rental income.
Internally the house is modest in size (around 947 sqft) with one bathroom and an extra toilet, a lounge and small front and rear private gardens. The façade is traditional Victorian terraced with period features but the interior and exterior will benefit from modernization and general decorative works to maximise rental value.
Location benefits include proximity to everyday amenities and several well-rated primary schools within walking distance. Important considerations: the immediate area is very deprived with high local crime rates, the street offers only on-street parking, and the plot and room sizes are small — factors that will influence tenant profiles and achievable rents.
For an investor or developer prepared to carry out refurbishment, the current income and HMO setup give scope to increase returns. Note that a buyers’ premium applies on purchase and prospective purchasers should review the Let Property Pack and carry out standard due diligence, including surveys and tenancy checks, before committing.
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