House For Sale £550,000
An excellent opportunity to purchase a six bedroom HMO (House in Multiple Occupation), offering a superb investment opportunity and situated in the sought-after residential area of Heavitree. Currently let to professionals and generating a gross annual income of £41,580 with a 7.56% gross rental yield.
The house is within easy reach of Heavitree Park and the Royal Devon & Exeter Hospital. The property is conveniently located for access to major road links including the M5 and A30, and Polsloe Train Station is also within walking distance of the property.
Well presented and maintained throughout, the accommodation comprises entrance hall, an open plan modern fitted kitchen with living and dining space, two double ground floor bedrooms, two first floor double bedrooms, two separate shower rooms, and two further double bedrooms to the second floor. To the rear of the house is an enclosed and low-maintenance courtyard garden. To the front of the property is a small area of garden with useful bike shed.
Viewing is highly recommended and a 360 Virtual Tour is available to view online.
Financial Information
Room Rents: Room 1 £595, Room 2 £570, Room 3 £600, Room 4 £550, Room 5 £575, Room 6 £575 - Total Income £3,465 monthly / £41,580 annual income with a gross yield of 7.56%
Total expenditure including gas, electric, water, council tax, TV licence, broadband, and cleaner: £575.79 monthly (based on July 2022) / £6,909.48 annually.
Net Annual Income of £34,670.52 / Net Yield of 6.3%.
Viewing Arrangements
Strictly by appointment with Naomi J Ryan Estate Agents on .
The house is within easy reach of Heavitree Park and the Royal Devon & Exeter Hospital. The property is conveniently located for access to major road links including the M5 and A30, and Polsloe Train Station is also within walking distance of the property.
Well presented and maintained throughout, the accommodation comprises entrance hall, an open plan modern fitted kitchen with living and dining space, two double ground floor bedrooms, two first floor double bedrooms, two separate shower rooms, and two further double bedrooms to the second floor. To the rear of the house is an enclosed and low-maintenance courtyard garden. To the front of the property is a small area of garden with useful bike shed.
Viewing is highly recommended and a 360 Virtual Tour is available to view online.
Financial Information
Room Rents: Room 1 £595, Room 2 £570, Room 3 £600, Room 4 £550, Room 5 £575, Room 6 £575 - Total Income £3,465 monthly / £41,580 annual income with a gross yield of 7.56%
Total expenditure including gas, electric, water, council tax, TV licence, broadband, and cleaner: £575.79 monthly (based on July 2022) / £6,909.48 annually.
Net Annual Income of £34,670.52 / Net Yield of 6.3%.
Viewing Arrangements
Strictly by appointment with Naomi J Ryan Estate Agents on .
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