Summary - 59 NORTH ROAD EAST PLYMOUTH PL4 6AN
7 bed 2 bath Terraced
Turnkey income with steady academic rents and a low-maintenance courtyard.
Licensed seven-bedroom HMO, on 50-week academic tenancies until Aug 2026
A licensed seven-bedroom HMO positioned steps from Plymouth University and the train station, currently on 50-week academic tenancies until mid-August 2026. The property is freehold and has been consistently maintained by long-term, hands-on landlords; it presents as a mostly turnkey income stream with a low-maintenance rear courtyard and communal living space. Gross annual income is £39,750 with net income after running costs of £34,862; the landlord estimates potential gross rent of £41,750 for 2026–27 when fully let.
The layout spans three levels with seven letting rooms, a ground-floor shower room and a first-floor bathroom with separate bath, shower and WC. Practical features include double glazing (install date unknown), mains gas central heating with boiler and radiators, and reliable fast broadband and mobile signal — all useful for student tenants. Permit parking is available via Plymouth City Council application for on-street spaces.
Notable matters: the mid-terrace property dates from 1900–1929 and has solid brick walls with assumed no added cavity insulation. The house sits on a small plot with on-street parking only, and local crime rates are above average. The front door and some external timberwork show signs of age and would benefit from attention. Buyers should allow for ongoing maintenance and potential compliance checks associated with HMOs.
This is a practical, income-focused purchase for an investor seeking an established, well-managed HMO close to campus transport hubs. It offers stable academic-let income, straightforward day-to-day management, and modest scope to increase rent at re-letting, while requiring routine maintenance and attention to older building fabric.
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