William Street, City of Bristol, Bristol BS3
Ref No: KE003-LI-SA196
Five bedroom House in Multiple Occupation with scope to expand and increase current rental income
William Street is a very popular road in the heart of Totterdown. It has a mixture of family homes converted flats and HMO’s. It is within walking distance of Temple Quay and the city centre and is ideal for professionals looking for somewhere reasonable to rent
The house briefly comprises
Communal Kitchen – (2.2m x 3.9m max) With L-shaped floor units, it is set up for communal living with a plenty of work space washing machine and fridges.
Basement Bedroom 1 – (4.1 m x 2.57 max) Rear facing the garden The room is currently let for £400 pcm including bills
Basement Bedroom 2 (4.79 3.41 max) – Front facing below street level. This room is let for £400 pcm including bills
Living Room (4.01 x 3.72 max) A bay windowed living room facing the road
Ground Floor bedroom 3 – (4.07 x 2.89 max) Rear facing and facing the garden, this room is currently let for £400 pcm including bills
Bathroom – (1.98 x 2.23) Communal bathroom with bath, shower over bath WC and sink.
Bedroom 4 – (4.11 x 2.57 max) Rear facing with good views This room is let for £400 pcm including bills
Bedroom 5 – (4.79 x 3.41 max) - The largest room at the front of the building. This room is let for £400 pcm including bills
Bedroom 6/Spare Room – Currently unused and not decorated, it could (Subject to permission/licence changes) be turned into a sixth bedroom. Currently this room is used by the regular building manager as a store
To the rear of the property is a garden which is laid mostly to deck. It has been deliberately designed to offer low maintenance.
The property has been set out for communal living. The flooring throughout is laminated, there is Gas central heating and all rooms have radiators. All bedrooms are lockable and conform to all regulations
William Street is an established HMO and has virtually 100% occupancy. Our client employs a regular handyman/cleaner to keep the communal areas up together. The current rental of £2,000 per month includes all bills and would in our opinion be a little on the low side. There is definitely scope to increase rents in the current market.
The vendor admits that he has not let rents keep pace with the current market, and any potential purchaser should be able to see an immediate uplift in rents, especially as currently rent includes all bills, In addition there is a room currently unoccupied. We feel that subject to gaining permission from the relevant authority this could make a viable sixth bedroom increasing the rental yield by as much as 20%. However this would be for potential purchasers to investigate themselves and any offer made should be on the basis that there are currently five letting rooms
If you are an experienced HMO landlord looking to expand your portfolio then this is a property that should be viewed. The vendor has run a tight ship and even allowing for the usual issues that HMO’s have is well presented. The current tenants look after their rooms and our client is only selling as he now wants to retire.
Disclaimer: The energy efficiency rating is a measure of the overall efficiency of a home. The higher the rating the more energy efficient the home is and the lower the fuel bills will be. The environmental impact rating is a measure of a home's impact on the environment in terms of carbon dioxide (CO2) emissions. The higher the rating the less impact it has on the environment. The Energy Performance Certificate for this dwelling was produced following an energy assessment undertaken by a qualified assessor.