Creating Property Opportunities in Norwich Norfolk
HMO BRR Opportunity in North Norwich
Project No: 1020
- 3 Bedroom 2 Bathroom House with Large Garden
- Location is North Norwich NR2
- Tenure is FREEHOLD
- Requires Full Refurb
- EPC Report - B
- Estimated Rent Income - £3250pcm
This large property with a corner plot of land would be an ideal HMO, property secured at 255k in very desireable area of Norwich, close proximity to the University, the city centre and the Norfolk and Norwich Hospital. The property is current laid out as a 3 bed 2 bath terraced house, but an extension to the side, building above the exist conservatory and shed, would create a 5 bedroom HMO with off street parking for 3-4 cars, and still retain a garden and patio area
- Asking Price - £255k
- Cash Invest Req - £368k
- Annual Yield - 8.76%
- ROCE - 12.4% (after refinace)
- Combined ROCE - 20.6%
- Project length - 8 months
These Figures are estimations based on current facts and figures available at time of production
We strive to ensure that all figures, budgets, and timelines are as accurate as possible based on current market conditions. However, markets can change unexpectedly, and adjustments may be necessary. Rest assured, we will always work to meet our estimates and keep you informed every step of the way. Any changes will be communicated promptly and discussed in detail to ensure full transparency.
Development Opportunity
Refurb Budget 35k
Not much work has been on on the properties for many years. So a complete strip out is recommended with all services be replaced.
- Full Strip out Internal & Rear Garden
- Services Replacement of Boiler to Combi Boiler, removed of water tanks and replacement radiators. Electrics to be updated and certified. Installation of fire detectors
- Indication of historic water damage, but dry now. Requires decora tion repair in master bedroom & kitchen
- Reconfiguration Extension 2 story - over the kitchen and dining room, to create space for addition 2 bedrooms on top floor
- Reconfiguration expand size of kitchen and communial area with acces to patio in back
- Reconfiguration Addition of ensuites on first floor
- Decoration Walls plastered, natural decor throughout. Top floor Bedrooms and stair case flooring in carpet. Bathroom tiled.
- Chimney & fireplace Kitchen to be closed up, living room fireplace to be modernised. Aesthetic only.
- Garden Front garden create garden + off street parking for 3 cars rear garden remains private walled space patio for tennant use
Existing Floor Plans
Proposed Floor Plans
Refurbish Budget Breakdown
Transport & Location
The area in Norwich is well-connected by various transport links, making it convenient for both local and regional travel. Located in the NR2 area, the property benefits from proximity to major roads and is located very close to the Univesrity of east Anglia.
Transport Links
Norwich railway station, located approximately 2 miles from Caernarvon Road, offers regular train services to London Liverpool Street, Cambridge, and other major cities, providing excellent regional connectivity.
For local travel, the area’s established bus routes are efficient and reliable, connecting residents to shopping centers, schools, and recreational areas
Crime Rate in Area
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Local Facilities
Cycling is also a popular mode of transport, with dedicated bike lanes and quiet residential streets enhancing the appeal for those commuting by bicycle. Additionally, the area is close to green spaces like Eaton Park, making it accessible for walking and leisure.
