This property is no longer on the market
3 bedroom apartment
Key information
Property description & features
- Tenure: Share of freehold
- Characterful
- Close to town
- First time buyers or investment
It occupies the first and second floors of an unassuming building - the downstairs is currently used by the freeholders as an office.
It has its own private access, a spacious lounge, two double bedrooms and a single bedroom. That makes it versatile and likely to appeal to a range of tenants, including sharers, a couple or a family.
The basics like gas central heating and double glazing have all been taken care of but chances are you’ll want to give it a lick of paint & replace the flooring as a minimum.
It’s a decent blank canvas to start from, with period features like exposed beams that could be restored to create much more impact throughout.
But if you’re looking to maximise your rental return then you should consider upgrading the kitchen and bathroom. That would also open up the possibility of remortgaging at the done-up-value to free up some of your initial investment.
There’s also a sun-trap roof terrace - currently accessed from the lounge window - so you may want to budget for making more of this with a permanent patio door.
It would be realistic to expect around £1,000pcm rented out on a single AST. Depending on your refurb costs it would return between 6.3% - 7.0% gross yield.
Regular buses head into town from outside the front door - with a journey time of less than 15 minutes.
That would make it ideal for tenants who jump on the bus to get into town. It would also appeal to tenants who work at the nearby retail park & business park (they’re less than 5 minutes walk away).
50% ownership of the Freehold for the building.
Leasehold - 199 year lease, from 2006.
Council Tax band B - Exeter City Council
Council tax band: B
Places of interest
See more properties like this:
*DISCLAIMER
Property reference Zexpteam0001685038. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Keller Williams Plus - Essex.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 19, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength: obtained from Ofcom on January 19, 2022
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area: obtained on March 19, 2021 from The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.