Cromer Street, York, YO30 5 bed townhouse for sale

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Cromer Street, York, YO30 5 bed townhouse for sale

Cromer Street, York, YO30
£509,000

Our Summary

  • A REAR AND FABULOUS HMO INVESTMENT OPPORTUNITY ( INCOME OF £49,000 / ANNUM ) with a potential to maximise rent £58,800 with a single storey rear extension, subject to planning permission
  • There's an opportunity to maximise rent with a rear extension subject to planning permission
  • Planning permission was granted for a rear extension but expired last year

Description

This is a rare investment opportunity in York, offering a fully licensed HMO property with a potential annual income of £49,000, which could increase to £58,800 with a single-storey rear extension subject to planning permission. The property is located in a popular student area, close to York St John's University, and is currently running at full occupancy with a tenancy agreement in place for the upcoming academic year. The property has been successfully operating as an HMO since 2021, with a joint tenancy agreement signed a year in advance. With a rear extension approved but expired, there is an opportunity to increase the rent and enhance the property's value. This is a unique chance to own a well-maintained and high-standard HMO property in a highly sought-after area.