House For Sale £575,000
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 £43,200 with a 7.51% 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, modern fitted kitchen, separate utility room, ground floor shower room, separate living room, ground floor double bedroom, three first floor double bedrooms, first floor shower room, and two second floor double bedrooms. Outside is an enclosed courtyard garden with bike shed.
Viewing is highly recommended and a 360 Virtual Tour is available to view online.
Financial Information
Room Rents: Room 1 £625, Room 2 £650, Room 3 £575, Room 4 £575, Room 5 £600, Room 6 £575 - Total Income £3,600 monthly / £43,200 annual income with a gross yield of 7.51%
Total expenditure including gas, electric, water, council tax, TV licence, broadband, and cleaner: £629.89 monthly (based on July 2022) / £7,558.68 annually. Tenants contribute monthly to energy costs that exceed £200.
Net Annual Income of £35,641.32 / Net Yield of 6.20%. Energy Rating D (56) / Potential Rating C (75)
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, modern fitted kitchen, separate utility room, ground floor shower room, separate living room, ground floor double bedroom, three first floor double bedrooms, first floor shower room, and two second floor double bedrooms. Outside is an enclosed courtyard garden with bike shed.
Viewing is highly recommended and a 360 Virtual Tour is available to view online.
Financial Information
Room Rents: Room 1 £625, Room 2 £650, Room 3 £575, Room 4 £575, Room 5 £600, Room 6 £575 - Total Income £3,600 monthly / £43,200 annual income with a gross yield of 7.51%
Total expenditure including gas, electric, water, council tax, TV licence, broadband, and cleaner: £629.89 monthly (based on July 2022) / £7,558.68 annually. Tenants contribute monthly to energy costs that exceed £200.
Net Annual Income of £35,641.32 / Net Yield of 6.20%. Energy Rating D (56) / Potential Rating C (75)
Viewing Arrangements
Strictly by appointment with Naomi J Ryan Estate Agents on .
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