Pitchford Road: HMO in Norwich
Student let: conversion of a 3-bed house to a 7-bed HMO in Norwich
This was originally a 3 bedroom house situated near the University of East Anglia in Norwich.
We have now completed the conversion and have added a single storey extension at the back of the house, extending three and a half metres into the garden, and a 2-storey extension on the side of the house. There are now 7 bedrooms, four with en-suites.
The existing lounge was converted into a bedroom, with an en-suite shower room, and the single storey extension enabled us to create a large open plan kitchen and dining room/ communal space.
The side extension enabled us to add two bedrooms downstairs, and two upstairs.
The garden has been cleared and fenced off to create a nice communal space.
At the back of the garden, there is a secure bicycle shed and bin store.
The property is currently let for £42,000 a year. If you are interested in investing in this property or similar projects do get in touch.
- Purchase Price: £190,000
- Refurbishment/Renovation: £111,200
- Legals and Other Costs: £38,838
- Projected Resale: £415,000
- Profit: £74,962
Take a look at this video to see the transformation: