Teal Space says ..

Property Oracle says ..

This property on Albert Terrace in Middlesbrough presents itself as a potential investment opportunity, especially for someone looking to create a House of Multiple Occupancy (HMO). The location in the town centre, and its proximity to Teesside University, makes it an attractive prospect for student rentals. The large square footage (1,524.92 sqft) further supports this.

However, the property’s current condition requires significant investment. The provided images show that the interior needs renovation and modernization. Several rooms show signs of wear and tear and some minor damage, suggesting the need for repairs and cosmetic upgrades before achieving its full potential as an HMO.

The lack of a garden or outdoor space is a drawback. The absence of specified details regarding the number of bedrooms and bathrooms in the listing adds to the uncertainty surrounding the property’s true potential. While the price point of £120,000 appears reasonable given other similar properties on Albert Terrace, which have undergone HMO conversion and are listed at higher prices, the potential investment needed for renovations before it becomes a viable HMO makes it a relatively moderate-value proposition. Further research into local planning regulations and potential HMO licensing requirements is crucial for any potential buyer. A thorough building survey before purchasing is strongly recommended to fully assess the extent of the necessary renovations and any potential structural issues.

Therefore, we give this property 4 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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