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14 bedroom detached house for sale
Outland Road, Plymouth, Devon, PL2
£800,000
Outland Road, Plymouth, Devon, PL2
£800,000
Price History
Initial price | £1,000,000 |
21/01/25 | £900,000 |
21/02/25 | £850,000 |
14/03/25 | £800,000 |
Price Change | -20.00% |
Description
This property is a rare investment opportunity that offers immediate income generation and substantial potential for future growth. The property is fully tenanted, with 14 rooms and a separate one-bedroom bungalow generating a total annual income of £83,112, rising to £88,608 when the advertised room is filled. The tenants are working professionals or semi-retired individuals, ensuring stability and reliable income. The property also has value-added potential, with the detached bungalow offering scope for a retrospective planning application to establish it as a separate dwelling. Strategically positioned for redevelopment, the property offers multiple avenues to maximize its value, including upgrading existing rooms, converting space into self-contained flats, or redeveloping the site into a modern apartment block. With steady income, valuable amenities, and a range of redevelopment options, this property stands out as an exceptional opportunity in today's market.