1-bedroom flat · EX4 4JN
Listing removedListed 476 days
Opportunity summary
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About
Introduction This is a third floor open plan studio flat on an original 125 year lease from 2005 which benefits from Upvc double patio doors leading onto a private balcony overlooking communal gardens, fitted kitchen, built-in dropdown double bed, shower room and a secure door entry system.
The property is ideal for owner occupier or investment opportunity in a city centre location, handy for Central Station, Rougemont Park and High Street.
THE ACCOMMODATION, WITH APPROXIMATE MEASUREMENTS, COMPRISES THE FOLLOWING Ground Floor: Communal Hall and passenger lift to Third Floor and Private Entrance to: Hall: Secure main door entry phone, built in storage cupboard, further built in cupboard housing water heater.
Open Plan Living Room/Kitchen: 5.13m (16'10") x 4.19m (13'9") Wall mounted electric panel heater, stainless steel single drainer sink unit with hot and cold mixer tap and two ring induction hob, both set in L’shaped work surfaces with cupboards, drawers, build in electric oven and appliance space below, plumbing for washing machine, tiled splash backs, wall mounted cupboard units, cooker hood, built in double bed, wardrobe, shelving and drawers, upvc double glazed doors to balcony.
Balcony: 3.15m (10'4") x 1.22m (4'0") maximum. Aspect over communal gardens.
Shower Room: 1.83m (6'0") x 1.55m (5'1") Wall mounted electric towel rail, shower tray with wall mounted mains shower and screen door, pedestal wash basin, close coupled w/c, part tiled surround, wall mounted medical cabinet, extractor fan.
Outside: Well maintained and level communal gardens laid to lawn with paved walkways and patio, trees and flowerbeds.
Agents Notes: Energy Rating: B (83) Council Tax: Exeter City Council Band A Length of Lease: 125 years from 1 January 2005, 105 years remaining.
Annual Ground Rent: £320.94 from 1stJanuary 2025 – 31stDecember 2025 Ground Rent Review: Annually Annual Service Charge: £1,855.93 from 1stJanuary 2025 – 31stDecember 2025 Service Charge Review: Annually For further information regarding this property please contact Andy Wilkinson
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About Marcus House, New North Road, Exeter
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