Under Offer
Asking Price Of £580,000

5 bed house for sale in Springfield Road, Exeter, EX4 (ref: 102879000541)

Shortlist

Key Features

  • INVESTMENT OPPORTUNITY
  • 5 BEDROOM LICENSED HMO
  • PRIME LOCATION
  • FURTHER OPPORTUNITY TO INCREASE SIZE
  • 2023/2024 INCOME: £38115pa
  • 2024/2025 INCOME: £40535pa
Set within this most popular area is this five bedroom student HMO producing a good yield and income. Positioned a short distance away from the main University of Exeter's main Streatham campus and the City centre.

This property briefly comprises an entrance hall, lounge, kitchen with dining area and bedroom 1 to the ground floor. To the first floor is the landing, shower room and separate WC, bedroom 2 and bedroom 3. Bedroom 4 and 5 can be found on the second floor. To the rear is a garden providing outside space.

There is scope to easily convert this 5 bedroom property into a 6 bedroom with additional shower room.

The University of Exeter student numbers have grown substantially over the last 5 years increasing by approximately 26% since 2018 with the numbers at approximately 29,776 for the 2022/23 academic year and highly likely to grow even more over the next decade.

Exeter University is ranked within the top 200 prestigious QS World University Rankings 2022 placing it among the very best institutions worldwide, the University is also one of the highly distinguished 24 Russell Group Universities within the United Kingdom.

*This data is taken from the annual 1st December student census and represents the most up to date information about students for the stated academic year. Students which withdraw during the year will not be accounted for in these figures. The data is FTE including INTO, but excluding non-credit bearing students and inbound exchange students such as Erasmus.

LOCATION The property lies within a central City location within close proximity of the University of Exeter's main Streatham Campus and additionally the High Street, making this an ideal investment and student property.

AGENTS NOTES: This property has been owned by the current owner for 30 years, a good history of renting each year and currently has students in occupation for the 2023/24 academic year and let for 2024/2025 Academic Year.

The Rent for the 2023/24 Academic Year: £38,115pa (exclusive of bills)

The Rent for the 2024/2025 Academic Year: £40,535pa (exclusive of bills)

KITCHEN/DINER 16' 56" x 8' 21" (6.3m x 2.97m) Good range of modern base and wall units with free standing electric cooker, free standing fridge freezer. UPVC Double glazing and Gas Boiler. With UPVC door out to rear Garden area.

LOUNGE 13' 01" x 12' 02" (3.99m x 3.71m) features original fireplace, radiator and UPVC double glazed window.

BED 1 11' 78" x 12' 02" (5.33m x 3.71m) To Ground Floor - with UPVC double glazed window and radiator.

BATHROOM 5' 5" x 8' 13" (1.65m x 2.77m) with shower, basin and toilet in white with UPVC double glazed window.

WC with Toilet and Basin. UPVC double glazed window.

BED 2 11' 94" x 12' 08" (5.74m x 3.86m) with UPVC double glazed window and radiator.

BED 3 16' 82" x 12' 13" (6.96m x 3.99m) with two wooden double glazed windows and radiator.

BED 4 10' 25" x 12' 21" (3.68m x 4.19m) with UPVC double glazed window and radiator.

BED 5 16' 27" x 12' 17" (5.56m x 4.09m) with wooden Dorma double glazed window and radiator.

Stamp Duty Due

Based on a sale price of £580,000 the total amount of stamp duty payable will be:

*

Last updated: The calculators have been updated following the end of the stamp duty holiday on 30th June 2021. Until the end of September 2021, it represents a staggered return to previous rates.

* This value is based on the standard rate and not applicable to first-time buyers or buy-to-let / second home buyers.

Property Images

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Further Details

  • Status: Under Offer
  • Reference: 102879000541

Location

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