On the way into work I noticed this property on the market with Absolute. A three bedroom split level property. And pondered on the merits of a three bedroom property in this location.
To be honest in my humble opinion a 3 bedroom property such as this may not be of interest to an investor. Its unlikely to appeal to a first time buyer. So without being too damning what could be its appeal.
For an investor 3 beds could attract sharers if all are the right size and with the average room rate for a double being £350 per calendar month , £1050 pcm is non too shabby. Offering a return of 7.4%
But this got me thinking . If you converted it as per Absolutes suggestion , what could you get for 2 x 1 beds : about 1050 pcm?
If it were possible to convert into 2 x 2 beds which may be unlikely then this would be for 2 at £650 per calendar month £1300 pcm.
What you would have to do as a landlord is weigh up whether the cost of the conversion is worth it?
Would you be able to get planning permission?
Whether the cost of an HMO license would be greater that the rental return?
Two flats are most certainly better than one as it reduces the risk during a void period.
Lots to consider.