A spacious and well-presented 6 bedroom student investment property which has recently been inspected by Exeter City Council and is HMO compliant.
A tenancy agreement is in place for the 2021/2022 academic year with a rental income of £36,000 exclusive of utility bills. The current rent is below the average rent being achieved in this area of approximately £40,000.
The property has a full panelled fire alarm system with emergency lights and sounders in each bedroom.
A spacious and well-presented 6 bedroom student investment property which has recently been inspected by Exeter City Council and is HMO compliant. A tenancy agreement is in place for the 2021/2022 academic year with a rental income of £36,000 exclusive of utility bills. The current rent is below the average rent being achieved in this area of approximately £40,000. The property has a full panelled fire alarm system with emergency lights and sounders in each bedroom. All bedrooms have a wash hand basin.
THE ACCOMMODATION, WITH APPROXIMATE MEASUREMENTS, COMPRISES THE FOLLOWING
Ground floor: A walled low maintenance frontage leads to the front door opening into a Porch and into hallway.
Hallway: Panelled radiator; wall mounted fire alarm panelled, under stairs storage and stairs to upper floors with doors to
Lounge – 4.56 m into Bay Window by 3.49m into Alcove
Spacious communal area with UPVC double glazed bay window and some original architrave features and picture rail. Wash hand basin inside a cupboard. Radiator
Bedroom One – 3.64m by 2.86m into Alcove
UPVC French doors opening onto rear garden. Feature fireplace with tiled surround and mantelpiece with wall mounted plate mirror above. Pedestal wash hand basin, with mirror cabinet above. Radiator
Fitted shower room with an electric shower. There is a uPVC window with obscured glass. There is a WC, wash hand basin with splashback and a towel rail.
Kitchen and Dining Area – 6.25m by 2.63m
UPVC double glazed windows to the side and sliding patio doors to rear garden. Two flush to ceiling light fittings. Well equipped Kitchen with a range of shaker style wall and floor units with rolled edged worktops and tiled splash backs. Inset stainless steel sink/drainer with mono mixer tap. This well-equipped kitchen includes an electric cooker with extractor hood above; AEG dishwasher; BOSCH washing machine; 2x fridge/freezers plus a tabletop fridge. There is gas boiler (Ideal) which supplies heating and hot water. The dining area has space to accommodate a table and 6 chairs overlooking the south facing garden.
Stairs to First Floor Landing with doors to:
WC –UPVC window with WC, wash hand basin with splashback and vinyl floor covering.
Shower Room –Recently updated shower room with a double glazed skylight window and wall tiled throughout. Shower cubicle is fitted with mains power shower and a bi-fold door. Heated towel rail and vinyl flooring covering.
Bedroom Two (FFR) – 2.65m by 2.61m
UPVC double glazed windows, to rear and side. Wall mounted 3 door cupboard and 2 wall mounted shelves. Wall mounted mirror. Additional allocated storage provided in half landing cupboard. Pedestal wash hand basin, mirror cabinet and radiator.
Bedroom Three (FFM) – 3.61m by 2.85m into Alcove
UPVC double glazed window to the rear. Feature fireplace with mantlepiece surround and wall mounted mirror above. Original built-in wardrobe with storage above. Two wall mounted shelves, wash hand basin, mirror cabinet and radiator.
Bedroom Four (FFF) 4.54m into Alcove by 3.68m
A spacious room with UPVC double glazed windows to the front x 2. Feature fireplace with mantlepiece surround and plate wall mounted mirror above. Original built-in wardrobe with hanging rail. Two wall mounted shelves, wash hand basin, mirror cabinet and radiator.
Stairs to Second Floor: with storage cupboard on half landing.
Bedroom Five (SFR) 3.61m maximum by 3.17m maximum (Vaulted Ceiling)
UPVC double glazed window to rear with spectacular outlook. Fireplace feature with mantelpiece surround and wall mounted plate mirror over. Wall mounted shelves and built-in storage cupboard. Wash hand basin, mirror cabinet and radiator.
Bedroom Six (SFF) 4.14m maximum by 3.6m maximum
UPVC double glazed window to the front. Ornate fireplace feature with mantelpiece surround and wall mounted mirror over. Storage cupboard, wall mounted shelves, wash hand basin with splashback and radiator.
Rear Garden – A low maintenance garden with a mix of patio paving and grassed area which extends to a gravelled area down one side. A secure garden shed provides additional storage space.
Frontage – Enclosed walled low maintenance frontage – bin store area.
1. In late 2019 the students indicated an interest in the house for 2021/22. During the Covid Lockdown, in Autumn 2020, the Vendor agreed a special one off Covid Credit to those students for saving them the difficulty of finding new tenants at that time. The tenants have opted to use this credit against the advertised rent of £36,000. On completion the Vendor agrees to make good the rent difference as part of the settlement. (Equivalent to £1440 over the full tenancy term.)
2. From their own records the Agent believes the current rent is less than the average for this area and provides potential for a correction adjustment for 2022/23.
3. The property sale will include all fixtures, fittings, appliances, and furniture supplied by the Vendor.
Council Tax: Exeter City Council – Band D (Currently zero rated)
EPC D (65)
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.