Modern Method of Auction
Auction date not yet published
2-bedroom flat · EX8 1PZ
Sold STCReduced £5k (−5.6%) on 22 AugListed 395 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A side door leads into the small communal hallway with stairs leading up to the apartment on the top floor.
An entrance door opens into open plan lounge/diner/kitchen with twin aspect windows to the rear, electric storage heater, wall mounted electric coal effect fire, worktop space with inset sink & drainer.
There is space for a free standing gas cooker, fridge/freezer and plumbing and space for a washing machine.
The high ceilings give the feeling of space and the large windows allow plenty of natural light in, there is also an under stairs storage cupboard.
A door in the corner leads to the staircase and first floor. A small landing has a storage cupboard along with doors to all other rooms.
The master bedroom is a generous double with space for free standing wardrobes as well a s built-in one to one corner and has been replastered. A rear facing double glazed window completes the room.
The second bedroom, which has also been replastered, has twin windows to side and rear and again is a good size double.
The bathroom with its rear facing double glazed frosted window has a panel enclosed bath with electric shower over, WC, wash hand basin and tiling to full height.
Outside to the rear of the property there is a communal garden, that does require some attention, but could be a very usable space.
Leasehold with 77 years remaining, annual ground rent £154, annual service charge £1200 and council tax band A.
Auctioneers Comments: This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the ”Reservation Period”).
Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT.
This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken.
Any payment that will be received by the Agent or Auctioneer will be confirmed to you in writing before services are taken. Services are optional.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
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 starting price
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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
Agent & docs
FAQ
About Flat 4, 74 Exeter Road, Exmouth
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