Terraced house for sale in Springfield Road, Exeter EX4

A very well presented four bedroom established student HMO which has a tenancy agreement in place for the 2023/2024 academic year generating a net income of £30,800 over an 11 month period.

A tenancy has been agreed for the 2024/2025 academic with a rental income of £31,507.

A prime student location for Exeter’s main University campus with ease of access to the city centre.

The accommodation also includes a ground floor storage for bicycles, laundry room, separate living room and two shower/bathrooms and benefits from gas central heating and upvc double glazed windows.

The sellers are including the freehold interest with the sale of this property which has a 999 year lease from the 24thJune 1990.

Description

This is a very well presented three storey four bedroom student HMO which has a tenancy agreement for the 2023/2024 academic year generating a net income of £30,800 over that 11 month period. A tenancy has been agreed for the 2024/2025 academic with a rental income of £31,507. It is situated in a prime student location with easy access to the main Streatham campus of Exeter University as well as Exeter City Centre, with a general store nearby. The accommodation includes bicycle storage area, ground floor laundry room, a separate communal living room, two shower/bathrooms, as well as the four double bedrooms.

The property is being sold on a 999 year lease from the 24thJune 1990 together with the freehold interest in the building.

The accommodation, with approximate measurements, comprises the following

Ground floor: Entrance door to

Hallway: Part quarry tiled flooring, door and stairs rising to the first

Laundry Room: 4.01m (13'2") x 1.40m (4'7")

Work surface with appliance spaces below, plumbing for washing machine, wall mounted boiler supplying domestic hot water and central heating,

First Floor Half Landing: Radiator

Kitchen: 2.46m (8'1") x 1.88m (6'2")

Stainless steel single drainer sink unit with hot and cold mixer tap set in l’shaped work surface with cupboards, drawers and appliance space below, appliance space for electric cooker and fridge freezer, wall mounted cupboard units with shelving, cooker hood, tiled splash backs, extractor fan, door to

Shower Room: 2.39m (7'10") x 1.75m (5'9") into door recess.

Radiator, shower tray with wall mounted mains shower and screen door, pedestal wash basin with hot and cold mixer tap and tiled splash backs, close coupled w/c.

Landing: Stairs rising to second floor

Living Room: 3.73m (12'3") x 3.33m (10'11")

Radiator, cast iron fireplace with wood surround and mantel piece, shelving in alcove, aspect to the rear.

Bedroom One: 3.78m (12'5") x 3.15m (10'4") into door recess and alcove.

Radiator, picture rail, shelving in alcove, aspect to the front.

Bedroom Two: 3.76m (12'4") x 2.41m (7'11")

Radiator, picture rail, aspect to the front.

Second Floor Landing: Door to

Utility Room: 2.59m (8'6") x 1.55m (5'1") maximum.

Stainless steel single drain sink unit with hot and cold mixer tap set in work surfaces with cupboard, drawers, and appliance space below, tiled splash backs.

Bathroom: 2.84m (9'4") x 1.42m (4'8")

Radiator, panel bath with hot and cold mixer tap, integrated shower head low level w/c, pedestal wash basin with tiled splash backs, wall mounted mirror and strip light with shaver point, built in cupboard, Velux window to the front.

Bedroom Three: 3.78m (12'5") x 3.10m (10'2") into alcove.

Radiator, feature fire cast iron fire grate with wood surround and mantel piece, picture rail, aspect to the rear.

Bedroom Four: 3.78m (12'5") x 3.33m (10'11") into alcove.

Radiator, covered fireplace with wood surround and mantel piece, aspect to the front.

Outside

Front: Secure storage unit, ideal for bicycles.

Agents Notes:

Council Tax: Exeter City Council – Band B (Currently zero rated)

EPC D (62)

Length of Lease: Original lease was 999 years from the 24thJune 1990 – 966 years remaining.

Annual Ground Rent: None

Ground Rent Review: N/a

Annual Service Charge: None

Service Charge Review: N/a

The sale of this property will also include the freehold interest in the entire property of 41 Springfield Road, Exeter EX4 6JL.

For further information regarding this property please contact Andy Wilkinson who has personally inspected this property.

Viewing by appointment with Cardens Residential subject to A minimum Of 24 hours notice required.