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Magdalen Street, Exeter, EX2 6 bed apartment for sale
Magdalen Street, Exeter, EX2
£530,000
Magdalen Street, Exeter, EX2
£530,000
Our Summary
- EXCELLENT INVESTMENT OPPORTUNITY
- 5% gross yield, with the potential for this to increased
Description
This exceptional investment opportunity is a 6-bedroom HMO located in a prime spot at the bottom of Southernhay, just a 5-minute walk from Exeter's High Street. The property boasts 6 double bedrooms, with 3 having their own private en-suite bathrooms and the remaining three sharing a modern shower room. The second floor features a spacious communal room with a fitted kitchen, breakfast bar, and sitting area. Currently rented to working professionals on individual tenancy agreements, the property generates a combined expected rent of £3,745 per month, offering a competitive gross yield of around 8.5%. With potential for increase, this leasehold property (with 993 years remaining) plus share of freehold presents an attractive investment opportunity.