Kays Peake Properties Ltd says ..

Property Oracle says ..

This property, situated on Blackpool Promenade, is a House of Multiple Occupancy (HMO) with a long history of operation. Currently, it is listed at £69,950. The location is advantageous, being on the main promenade and close to Blackpool South station. The proximity to local amenities and several schools (within a 1km radius) is a positive aspect. However, images reveal an inconsistent level of condition; some areas appear adequately maintained (e.g., dining areas and some bedrooms), while others, particularly the exterior, clearly require considerable repair and refurbishment. The exterior showcases substantial damage, including vandalism. The lack of a garden or other outdoor spaces is a drawback. The absence of precise details about the size of the property (square footage) complicates accurate valuation. A few nearby properties sold for significantly less (£37,000 - £65,000), but those were different property types. Other nearby examples are terraces or apartments, making direct comparison with this HMO challenging. While the £69,950 price point might be competitive in Blackpool’s market, the considerable refurbishment needs and the HMO-specific considerations are factors buyers should weigh carefully. The potential rental income (£1100 per calendar month) should be considered an important aspect of the investment. Overall, prospective purchasers must be well-informed, ideally with experience in HMO management, to assess this property’s viability fully.

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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