1-bedroom flat · EX14 1AA
Listing removedListed 218 days
Opportunity summary
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About
This well-presented first floor apartment in a retirement complex for residents aged 60 Plus. Conveniently located within a short, level walk to the High Street. Sold With No Chain.
Briefly comprising hallway, living room, kitchen, bedroom and shower room. Also benefits communal areas including a living room, gardens and laundry room.
Secure communal entrance giving access to the lift or stairs for the upper floors. Entrance hall with a good size airing/storage cupboard and access to all rooms.
The living/dining room is a good size with archway opening into the very modern kitchen.
Range of wall and base units providing ample storage and also built in appliances such as fridge freezer, 4 ring hob and extractor fan.
The spacious bedroom has a built-in wardrobe and there is a modern shower room with matching white 3 piece suite including large shower cubicle all finished in a modern sleek design.
Residents can enjoy the communal lounge and gardens. There are residents and visitors parking, a laundry room and a guest suite for visitors. Material information Tenure: Leasehold.
125 year lease commenced 1987. Service Charge: From 1st March 2024 is £1411.20 paid in two instalments. We understand the ground rent is £219.65 per 6 months.
We understand these charges include: Water and sewerage, buildings insurance, exterior window cleaning, telephone entry system, maintenance of communal areas, house manager and emergency call alarms.
Residents must be aged 60 plus, with the second being over 55. East Devon District Council. Tax Band:A. Construction: Standard. Services & Heating system: Mains electric, water and drainage.
No mains gas. Electric heating.
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 19 Homelace House,, King Street, Devon
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