3-bedroom flat · EX2 4HY
Listing removedListed 373 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
EXCELLENT INVESTMENT OPPORTUNITY!
- This modern and spacious apartment has recently been fully re-decorated and re-carpeted throughout and offers spacious, light and airy accommodation in a great central location.
Located at the bottom of Southernhay on Magdalen Street, the property is a short walk from the City Centre.
The first floor apartment comprises three large double bedrooms with high ceilings and plenty of natural light.
There is a generous open plan kitchen / dining room which serves as a comfortable social space, at the rear is a large bathroom with shower over the bath.
The property is currently rented to working professionals on a joint, periodic tenancy agreement at a monthly rent of £1500 excluding bills (which the tenants are responsible for).
This equates to a gross return of just over 5.6% however there is scope for this to be increased. NB Flat 3 is also for sale and can be negotiated into any potential purchase, contact us for details.
Tenure: Leasehold (993 years left) plus share of freehold - please enquire for details EPC Rating: E Council Tax: Exeter City Council - Band B EPC Rating: E Kitchen / Dining Room Open plan kitchen diner with modern fitted kitchen Bedroom 1 Double bedroom Bedroom 2 Double bedroom Bedroom 3 Double bedroom Bathroom Bathroom with shower over bath
Value & comps
No previous sales on record.
Returns
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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.
Area
Agent & docs
FAQ
About Magdalen Street, Exeter, EX2
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