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See how verdicts work1-bedroom flat · EX1 2FG
For saleReduced £3k (−2%) on 1 OctListed 126 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This modern one bedroom flat is located within close proximity to Exeter's High Street, offering a wide range of local amenities including a variety of shops, restaurants, and entertainment facilities, as well as the brand new upcoming St Sidwells Point leisure facility.
There are also excellent public transport links, and the well-regarded Belmont Park is located nearby.
Wheaton House benefits from both a lift and stairs to all floors, and the internal accommodation briefly consists of an entrance hallway with built-in storage, an open-plan living space with lovely far-reaching views across the city, a double bedroom, and a shower room.
With such a fantastic central location, the benefit of no onward chain, and the far-reaching views, this flat is not to be missed and we highly recommend further viewing.
Please note: There are currently building works taking place outside the property.
Entrance & Hallway The front door opens to the communal hallway which benefits from a lift and stairs to all floors. This flat is located on the third floor.
A door opens into the private entrance hallway which provides access to the open-plan living space, the bedroom and bathroom, as well as a door to an airing cupboard, a telephone intercom system and an electric heater.
Open-Plan Living Space (21' 4'' x 11' 2'' narrowing to 7' 3'' (6.51m x 3.41m)) The well-proportioned living space enjoys double glazed French doors opening out to a Juliet balcony with far-reaching views across the rooftops to the Cathedral and distant countryside beyond.
There is also an electric heater and ample space for dining room furniture.
The kitchen area contains a range of matching wall and base units with a fitted worktop, a matching upstand, and a 1.5 bowl stainless steel sink and drainer unit with a mixer tap over.
Integrated appliances include a double oven with an electric hob, a wine rack and extractor hood over, and space is provided for a tall fridge freezer. There is also spotlighting.
Bedroom (21' 5'' x 8' 2'' narrowing to 6' 8'' (6.54m x 2.49m)) A double bedroom boasting a walk-in wardrobe, an electric heater, and a double glazed window to the rear aspect.
Shower Room (7' 2'' x 6' 8'' (2.18m x 2.04m)) Comprising a double shower cubicle with a Mira shower over, a close-coupled WC, and a pedestal wash basin with a mixer tap over.
Additionally there is an extractor fan, a heated towel rail, spotlighting, and a shaver socket.
Property Information Tenure: Leasehold (We have been informed that the lease length is 121 years from 1 January 2011 with a ground rent of £200 per year.
The six monthly service charge due on 1 October was approximately £600). Council tax band: A.
Value & comps
No previous sales on record.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
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.
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FAQ
About Flat 26 Wheaton House, Red Lion Lane, Exeter
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