3-bedroom flat · EX9 6JD
Listing removedReduced £30k (−9.5%) on 7 JulListed 125 days
Opportunity summary
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About
"Mimosa Court" is a purpose-built development of just eight apartments, which is situated in a highly sought after area of Budleigh Salterton benefiting from being just over 200m from the seafront and in very close proximity to the wonderful coastal and river walks.
Whilst also only approx. Half a mile level walk along the seafront to the town centre. Communal Entrance Communal stairs rise to first floor landing which is shared with one other first floor flat.
Private entrance door leads to.. Entrance Hall Spacious hallway with radiator, built in storage cupboard with hanging rail and shelf above and wall mounted consumer unit.
Built in airing cupboard housing the hot water cylinder with slatted shelves and wall mounted central heating timer control unit.
Wall mounted room thermostat, two ceiling lights, coved ceiling, ceiling hatch to roof space and doors to all rooms.
Living/Dining Room A light and spacious L-shaped room benefitting from two large double glazed windows offering a pleasant outlook towards the Otter Head and the sea.
A feature stone mock fire surround with deep shelf and power point for TV and deep recessed shelf. TV point, telephone point, two radiators and coved ceiling.
Double glazed door provides access onto the balcony for the enjoyment of sitting outside. There are also four sets of matching wall lights and coved ceiling.
Kitchen Fitted with a good range of matching base and eye level units with wood effect roll edge work surfaces, inset wash hand basin with drainer and mixer tap, tiled splashbacks, freestanding electric cooker, space for under counter fridge and freezer, space and plumbing for washing machine, wall mounted gas fired boiler serving the central heating and domestic hot water, radiator, large double glazed window offering a pleasant leafy outlook and coved ceiling.
Bedroom One/Dining Room A spacious room currently used as a dining room which benefits from double glazed sliding patio door opening up onto the balcony, built in storage cupboard with hanging rail and shelf above, telephone point, radiator and coved ceiling.
Bedroom Two Another good sized double bedroom with large double glazed window offering pleasant outlook to the rear, built in shelved storage cupboards with dressing mirror, radiator and coved ceiling.
Bedroom Three Another spacious double bedroom with large double glazed window offering a pleasant outlook to the rear over the communal gardens, radiator and coved ceiling.
Shower Room A white suite comprising corner shower enclosure with glazed sliding door and wall mounted Mira Sport electric shower, pedestal wash hand basin with wall mounted mirror above and WC.
Half tiled walls, radiator, towel rail, recessed ceiling spotlights and two obscure double glazed windows both with openers.
Directions What3Words : ///ready.compound.parked Material Information Tenure: Shared Freehold (999 year lease from 1974) Maintenance: We understand that this charge is currently £350 paid quarterly per flat owner.
(£1,500 per annum). EPC: C Council Tax: Band D with East Devon District Council. Rights and Restrictions: No Holiday Lets. Pets considered.
Mains: Gas, Electricity, Water & Drainage Broadband and Mobile Signal Availability - We advise that you should check the availability and signal strength with your supplier.
Flood Risk: Low risk means that this area has a chance of flooding of between 0.1% and 1% each year.
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 Flat 8, Mimosa Court,, Granary Lane, Devon
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