24 bed detached house for sale

Nethercott Place, Exeter EX1

A unique opportunity to purchase six modern 4 double bedroom HMO houses that all all currently let out. The properties currently have a current income of £216,000 per year. There is also the possibility of a building plot on the land being sold with the Freehold for all 6 properties.

Properties And Income

All the properties are fully let with income of

1 Nethercott Place - £33,360
2 Nethercott Place - £33,360
3 Nethercott Place - £33,360
4 Nethercott Place - £33,360
5 Nethercott Place - £33,360
6 Nethercott Place - £33,360

6 Car Parking spaces rent for £3600 per year.

Bills

The landlord pays all bills, they currently are per property

Water £800 per year
Gas/electric £1260 per year
Council Tax £1909 per year
Broadband £360 per year

Total £4329 per property or £25,974 for all 6.

Freehold, Management Company And Extra Information

The current owner owns the freehold to the entire development and the parking area, this is being sold with the properties. There is a management company set up which is also being sold.

We have also been informed there is potential to build another home at the end of the terrace (subject to planning)

Furniture

All Furniture will be sold with the property.

Agents Notes

These particulars are not an offer or contract, nor part of one. You should not rely on statements by Francis Louis in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property condition or its value. Neither Francis Louis nor any joint agent has any authority to make any representations about the property and accordingly any information given is entirely without responsibility on the part of the agents, sellor(s) or lessor(s) Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. VAT: The vat position relating to the property may change without notice.