1-bedroom flat · EX8 2NN
Sold STCListed 7 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Pegasus Court is a development for the over 60’s constructed by Pegasus Retirement Homes Ltd.
The facilities of Pegasus Court include a House Manager, 24 hour emergency call system, residents lounge with access to wonderful communal gardens and patio sun terrace, communal laundry.
There is a secure gated vehicle access with parking spaces subject to availability. The accommodation comprises: Communal front door with door security system giving access to spacious communal areas.
This apartment is found on the ground floor to the rear of the development overlooking the gardens and ideally located within the development close to the communal lounge, house manager’s office and laundry room.
Private front door to: Reception hall: Electric wall heater, door entry intercom with emergency careline cord, cupboard housing water cylinder.
Lounge: 4.6m x 3.46m (15’1” x 11’4”) A most attractive room with double glazed tilt and turn window to Juliette style balcony overlooking the communal gardens, TV point, telephone point, electric wall heater, fire surround housing electric living flame fire, glazed panelled door to: Kitchen: 2.32m x 1.95m (7’7” x 6’5”) A well equipped kitchen with double glazed window.
Comprising of patterned worktops with tiled surrounds, cupboards and drawer units beneath worktops with inset single drainer sink unit and inset four ring electric hob with filter extractor hood over, wall mounted cupboards, built-in oven and microwave oven, integrated fridge and freezer, ceiling spotlighting.
Bedroom: 4.21m x 2.71m (13’10” x 8’11”) A spacious bedroom with double glazed window overlooking the communal gardens, electric wall heater, built-in double wardrobe plus further walk-in wardrobe with light, shelving unit and also housing electric meter and consumer unit.
Bath/shower room/WC: 2.48m x 1.95m ( 8’2” x 6’5”) A four piece suite fitted with bath with shower attachment, shower cubicle with shower unit, vanity style wash hand basin with fitted mirror over with display lighting and matching cupboards, WC with concealed cistern and push button flush, electric heated towel, electric wall heater, emergency careline cord, ceiling extractor fan.
Outside: Pegasus Court enjoys delightful communal gardens with various seating areas, and communal sun terrace located directly outside the communal lounge.
A gated entrance gives access to the parking area.
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
Agent & docs
FAQ
About Pegasus Court, 88,5, Salterton Road, Exmouth
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