379 Bath Road, Arnos Vale, Bristol

Description

A recently converted (2023 - EPC C) freehold block of 2 HMO licensed self-contained flats (1,523 sq ft), comprising a self-contained 3-bedroom ground-floor flat (750 sq ft) and 4-bedroom maisonette (773 sq ft) on the upper floors. Both flats are newly and fully licensed to current HMO standards. Offered in excellent decorative order.

Accommodation

3-bedroom ground-floor flat (750 sq ft) and 4-bedroom maisonette on the upper floors (773 sq ft). 379: bed 1 let at £775 pcm, bed 2 vacant with scope for £700 pcm, bed 3 let at £600 pcm. 379a: bed 1 vacant with scope for £650 pcm, bed 2 let at £620 pcm, bed 3 vacant with scope for £700 pcm, bed 4 let at £775 pcm.

Location

The property is in a sought-after central location close to the new Bristol Uni campus at Temple Meads. The A4 leads from the centre of Bristol to Bath and services a large area of commercial and quasi-industrial businesses. The centre of Bristol is within one mile, and the City of Bath is within easy travelling distance.

Tenure / Property Information

Investment Analysis

No completed-sale comparables or formal valuation evidence was supplied, so GDV and market value cannot be reliably estimated. The £400,000 guide equates to approximately £57,143 per bedroom, but this is not a valuation. The auctioneer provides two inconsistent rent totals: £57,840 pa (£4,820 pcm) and £62,808 pa (£5,234 pcm). The lower figure is used for conservative calculations. Landlord-paid water and electricity costs are not quantified, so net yield cannot be established.

Investment Snapshot

Strategy Recommendation

Consider as an income-hold/HMO stabilisation purchase only after verifying the existing tenancies, vacant-room demand, licensing documentation, utility costs and actual operating expenses. Do not rely on a resale or BRRR valuation without independent valuation evidence.

Works Required

The property is described as recently converted in 2023, EPC C, fully HMO licensed and in excellent decorative order. No refurbishment works are evidenced. The apparent operational requirements are letting the four stated vacant rooms, confirming tenancy documentation and licensing compliance, and verifying landlord-paid water and electricity costs.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no GDV, completed-sale comparables, refurbishment budget or refinance valuation evidence has been supplied. The property is recently converted and licensed, so the principal opportunity appears to be stabilising occupancy rather than undertaking evidenced refurbishment. Refinance capacity and cash left in are therefore unsupported.

Buy-to-Let Analysis

Using the conservative auctioneer scope of £57,840 pa, gross rent on the £400,000 guide is approximately 14.46%. Using the alternative £62,808 pa figure would produce approximately 15.70%. These are gross figures only: landlord-paid water and electricity, finance, management, maintenance, voids and other costs are not quantified. Existing tenancies are stated to be present, with four rooms identified as vacant and having stated rental scope. Passing income, tenancy terms and actual achieved rents are not fully evidenced.

Flip Analysis

A flip calculation cannot be supported because no GDV, completed-sale comparables, refurbishment allowance or selling-cost allowance is supplied. The recently converted condition and excellent decorative-order description do not evidence a resale margin.

Investor Risks & Due Diligence

• No completed-sale evidence or formal valuation supports the £400,000 guide or any GDV.

• Auctioneer rent totals conflict: £57,840 pa versus £62,808 pa.

• Four rooms are stated to be vacant, so the higher rent scope is not passing income.

• Landlord-paid water and electricity costs are not quantified, preventing net-yield analysis.

• Existing tenancy terms, rent schedules and evidence of actual passing rents are not supplied.

• A £1,800 buyer premium including VAT is payable on exchange, in addition to the purchase price.

• No refurbishment, selling-cost or finance-cost allowance is supplied for project-return analysis.

Recommendation

Consider as an income-hold/HMO stabilisation purchase only after verifying the existing tenancies, vacant-room demand, licensing documentation, utility costs and actual operating expenses. Do not rely on a resale or BRRR valuation without independent valuation evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, licensing statement and room-level rent scope are detailed, but there are no completed-sale comparables, no external rental comparables, no quantified operating costs, no refurbishment budget and conflicting auctioneer rent totals.