6 bed Town House for sale

6 Bedroom HMO – South Lawn Terrace, Heavitree, Exeter

Price

£550,000

Property Images |  Naomi J Ryan Estate Agents
Property Images |  Naomi J Ryan Estate Agents
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Sold STC

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Property Features

  • 6 Bedroom HMO (House in Multiple Occupation) 6 Bedroom HMO (House in Multiple Occupation)
  • Generating a Gross Annual income of £42,540 with a 7.73% Gross Rental Yield
  • Excellent Access to Local Amenities
  • Well Presented Throughout
  • Currently Let to Professionals
  • Established Residential Area

Property Summary

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 £42,540 with a 7.73% 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.

Full Details

FINANCIAL INFORMATION
Room Rents: Room 1 £675, Room 2 £570, Room 3 £600, Room 4 £550, Room 5 £575, Room 6 £575 - Total Income £3,545 monthly / £42,540 annual income with a gross yield of 7.73%

Total expenditure including gas, electric, water, council tax, TV licence, broadband, and cleaner: £569.76 monthly (based on August 2022) / £6,837.12 annually.

Net Annual Income of £35,702.88 / Net Yield of 6.49%.

VIEWING ARRANGEMENTS
Strictly by appointment with Naomi J Ryan Estate Agents on 01392 215283.

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Property Brochure

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Property Location

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Property details

Features at a glance

6 Bedroom HMO – South Lawn Terrace, Heavitree, Exeter
Price £550,000
  • Type: Town House
  • Availability: Sold STC
  • Bedrooms: 6
  • Bathrooms: 2
  • Reception Rooms: 1
  • Tenure: Freehold

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