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Floorplans (
Map
Area stats4 bedroom block of apartments for sale
Four 1-bedroom Self Contained Flats
Block of apartments
4 beds
4 baths
Key information
Features and description
- 4 self contained flats
- Development opporunity
- Investment opporunity
- Potential to increase rent
- Excellent location
SUMMARY FOUR 1 BEDROOM SELF CONTAINED APARTMENTS FOR SALE - A fantastic investment property comprising four 1 bedroom rental self contained apartments, two of which are still currently occupied, when fully occupied the apartments have been generating a yearly net income of £29,520. There is the potential to significantly increase the rents either by increasing the rents to match current market levels or there is the potential to renovate, reconfigure or completely redevelop the site.
Located in a highly desirable central area at the bottom of Fore Street, this is perfectly position for the city centre, St Thomas and local transport links. Fore Street boasts numerous speciality and alternative shops, many of them independents, hidden away within little arcades along the route, this is an up and coming area with the investors looking at sites to develop along with proposed new student accommodation. This property presents an excellent opportunity for investors.
The property also has a lockable bin store and basement/store room which could have the potential to be developed into a self-contained apartment.
Property Tenure: Freehold (please note each flat does not hold individual leaseholds).
Council Tax: Each flat has a separate council tax band all comprising of an A.
EPCs:
21 New Bridge Street - C
22 New Bridge Street - C
22a New Bridge Street - D
22b New Bridge Street - D
LETTINGS INFORMATION The apartments have achieved and achieving the following rents which are not reflective of the current market value (please see below lettings potential)
21, 1 bedroom, 47 sqm - £575pcm
22, 1 bedroom 34 sqm - £595pcm
22a, 1 bedroom 40 sqm - £595pcm
22b, 1 bedroom 47 sqm - £695pcm
Lettings Potential - Rosewood Property Lettings Department have put an estimate monthly rental of £750pcm if they came back to the market now as they are. This provides a rental yield of approx. 6.9%.
They have a potential to achieve £850pcm with some selective modernisation/improvement. This provides a yearly rental yield of approx. 7.8%.
If you would like further information regarding this or any aspect of letting a property, please contact our Lettings Department.
SERVICES Electricity supply: Mains electricity
Heating supply: Night Storage Heaters
Sewerage: Mains
Water Supply: Mains
Mobile signal: Several networks showing as available including EE, Vodaphone, 3 and 02
Broadband: Standard, Superfast and Ultrafas
Located in a highly desirable central area at the bottom of Fore Street, this is perfectly position for the city centre, St Thomas and local transport links. Fore Street boasts numerous speciality and alternative shops, many of them independents, hidden away within little arcades along the route, this is an up and coming area with the investors looking at sites to develop along with proposed new student accommodation. This property presents an excellent opportunity for investors.
The property also has a lockable bin store and basement/store room which could have the potential to be developed into a self-contained apartment.
Property Tenure: Freehold (please note each flat does not hold individual leaseholds).
Council Tax: Each flat has a separate council tax band all comprising of an A.
EPCs:
21 New Bridge Street - C
22 New Bridge Street - C
22a New Bridge Street - D
22b New Bridge Street - D
LETTINGS INFORMATION The apartments have achieved and achieving the following rents which are not reflective of the current market value (please see below lettings potential)
21, 1 bedroom, 47 sqm - £575pcm
22, 1 bedroom 34 sqm - £595pcm
22a, 1 bedroom 40 sqm - £595pcm
22b, 1 bedroom 47 sqm - £695pcm
Lettings Potential - Rosewood Property Lettings Department have put an estimate monthly rental of £750pcm if they came back to the market now as they are. This provides a rental yield of approx. 6.9%.
They have a potential to achieve £850pcm with some selective modernisation/improvement. This provides a yearly rental yield of approx. 7.8%.
If you would like further information regarding this or any aspect of letting a property, please contact our Lettings Department.
SERVICES Electricity supply: Mains electricity
Heating supply: Night Storage Heaters
Sewerage: Mains
Water Supply: Mains
Mobile signal: Several networks showing as available including EE, Vodaphone, 3 and 02
Broadband: Standard, Superfast and Ultrafas
Area statistics
Crime score
High crime
10/10
About this agent
Rosewood Property - Exeter
Rosewood Property, Rosewood House, 6 Northernhay Place
Exeter, Devon
EX4 3QJ
01392 976781Sell or let your home for the best price with your local independent experts. Welcome to Rosewood Property a modern, innovative, forward thinking estate agency with property experts and marketing specialists enhancing every aspect of selling your property whether you are situated in the city of Exeter, surrounding towns, villages, countryside or within a coastal location. We offer a wide range of property selling & letting services together with being specialists in the modern method of auctions. Our deep proficient knowledge of the market place complimented by our valuable property expert’s consistent results, reliable service, strong links with the local communities and exemplary attention to detail makes us well known and trusted within the market. Our professionals have a combined experience of over 50 years working within the industry selling and letting thousands of homes. Senior members are proud members of either the National Association of Estate Agents (NAEA) or the Association of Residential Letting Agents (ARLA), other team members are either fully qualified or working towards qualification.