House For Sale £650,000
Topsham Road, Exeter, Devon

An excellent investment opportunity. A generous Grade 2 listed Georgian townhouse comprising a 6-bedroom HMO and 2 self-contained flats, a garden and off-road parking on the main artery into Exeter with easy access to the RD & E and the city centre.

The property has the potential to make improvements and command higher rents. It’s in an area that’s likely to be popular with single-room tenants but not so popular you have to contend with Article 4.

The property can command a rental income of £64,800 pa / £5,400 pcm from the individual rooms and flats let out.

The layout doesn’t allow you to make any significant structural changes, so you couldn’t create more self-contained flats. But you do still have plenty of scope to upgrade what’s here, to attract premium rents.

Do that and potentially you could turn your rent roll into £82,800pa / £6,900pcm. That's another £18k per year to upgrade the fixtures and some stylish new furniture.

The other advantage of making improvements will be the chance to potentially refinance based on the higher done-up value or expected income.

There are two 1 bedroom flats, each with a separate bedroom, living room, shower and kitchen.

Flat 4 is the pick of the two, as this also has a sunroom and private access to the low-maintenance back garden however you might want to open up the driveway to include the garden area for more off-road parking.

There are 6 double bedrooms spread throughout the four floors. The 6 rooms share three shower rooms on the first floor so 2 rooms per shower room. All bedrooms have their own kitchen.

It’s approximately one mile to the Royal Devon & Exeter Hospital and approximately one and a half miles into town and it’s on a main bus route, meaning many tenants may not have a need for a car.

If they do have a car there is parking for up to three cars on the driveway providing they don't mind parking one behind the other or there is the scope to turn the garden into a larger parking area, where they could come and go as they please.

There are also three garages available subject to separate negotiations.

Are you interested in a good cash-flowing HMO that’s in a location likely to attract both professional tenants who work in town or hospital workers?

It’s all set up and just waiting for you to serve the Section 3 (change of ownership) notice and give the tenants your bank details.

If you’re keen to find out more call today to arrange a viewing.
Council tax band: D