This property is no longer on the market
6 bedroom terraced house
Key information
Property description & features
- Tenure: Freehold
- Prime Exeter Location
- 6 Bed HMO
- Consistent Rental Demand
- High Yield Potential
- Refurbishment Opportunity
- En-suite Upgrade Options
- Versatile Tenant Market
- No Onward Chain
- Article 4 Compliant
- Strategic Investment Potential
The layout comprises two bedrooms on the ground floor (including one with an en-suite shower room), three on the first floor, and a sixth bedroom on the top floor, previously generating rents between £450 to £525 per month per room. However, with strategic upgrades, the property could command rents in the range of £650 to £750 per room, depending on the quality of the renovation.
The property also features a generous kitchen/diner on the ground floor, a bathroom and a shower room on the first floor, all of which are ripe for enhancement.
By investing in upgrades for both the communal spaces and individual bedrooms — including the potential addition of en-suite shower rooms (subject to planning), you can appeal to a premium tenant base, including professionals or students and the possibility of refinancing at a higher valuation.
Located less than a 10-minute walk from the High Street and in close proximity to several new student accommodations — where students pay upwards of £155 per week — the location offers flexible targeting options for either city workers or students post-refurbishment.
Operating within an Article 4 area as a licensed HMO (with the current license valid until February 2025), this property has a C4 classification, meaning it is allowed to continue to operate as an HMO.
This investment offers the dual benefit of securing a higher income stream through refurbishment while capitalising on the property's strategic location, existing HMO license, and C4 class. A thorough analysis could reveal even greater potential, positioning this property as a standout investment opportunity in Exeter's competitive real estate market.
Are you interested in a cash-flowing, licenced HMO only minutes from town? If so, call to arrange a viewing.
Exeter Rental Market
Exeter presents a golden opportunity for investors eyeing the property on Codrington Street, positioning investors perfectly to capitalise on Exeter’s rental market.
This historic city is a hub of culture and education and a burgeoning centre for business and innovation.
With the University of Exeter standing as a beacon of academic excellence, the city attracts a vibrant community of students and young professionals, ensuring a constant demand for quality housing.
The city’s economy is on an upward trajectory, bolstered by technology, retail, and healthcare sectors, thereby promising investors a dynamic and growing market.
Council tax band: B
Places of interest
See more properties like this:
*DISCLAIMER
Property reference Zexpteam0003496832. 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 - Home Counties & Surrey (Oxygen).
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on January 26, 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 April 4, 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 August 10, 2022 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.