This is a rare and exceptional opportunity to acquire a fully refurbished and compliant, income-generating property in Alphington, Exeter. The property is strategically configured to offer two distinct and powerful investment paths. The main building is a turnkey, licensed HMO with a secure income stream, ready to be furnished and tenanted immediately. The property has a pre-agreed 11-year repairing lease at £97,000 per annum with a 2% annual increase, providing a secure and passive income stream for the landlord. Alternatively, the buyer can choose to manage the property independently, with the potential to generate a strong six-figure income from multiple revenue streams. The property also offers a unique opportunity to develop the barn into a magnificent 5-bedroom dwelling, adding significant value and a new revenue stream. With excellent transport links, local amenities, and beautiful Devon countryside surroundings, this property presents a compelling investment opportunity with the potential to generate exceptional returns in the thriving Exeter market.