Codrington Street, Exeter, Devon
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- PROPERTY TYPE
Terraced
- BEDROOMS
6
- BATHROOMS
3
- SIZE
1,192 sq ft
111 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Prime Exeter Location
- 6 Bed HMO
- Consistent Rental Demand
- High Yield Potential
- Refurbishment Opportunity
- En-Suite Upgrade Options
- Versatile Tenant Market
- No Onward Chain
- Article 4 Compliant
- Strategic Investment Potential
Description
The layout comprises two bedrooms on the ground floor (including one with an en-suite shower room), three on the first floor, and a sixth bedroom on the top floor, previously generating rents between £450 to £525 per month per room. However, with strategic upgrades, the property could command much higher rents per room, depending on the quality of the renovation.
The property also features a generous kitchen/diner on the ground floor, a bathroom and a shower room on the first floor, all of which are ripe for enhancement.
By investing in upgrades for both the communal spaces and individual bedrooms — including the potential addition of en-suite shower rooms (subject to planning), you can appeal to a premium tenant base, including professionals or students and the possibility of refinancing at a higher valuation.
Located less than a 10-minute walk from the High Street and in close proximity to several new student accommodations — where students pay upwards of £155 per week — the location offers flexible targeting options for either city workers or students post-refurbishment.
Operating within an Article 4 area as a licensed HMO (with the current license valid until February 2025), this property has a C4 classification, meaning it is allowed to continue to operate as an HMO.
This investment offers the dual benefit of securing a higher income stream through refurbishment while capitalising on the property's strategic location, existing HMO license, and C4 class. A thorough analysis could reveal even greater potential, positioning this property as a standout investment opportunity in Exeter's competitive real estate market.
Are you interested in a cash-flowing, licenced HMO only minutes from town? If so, call to arrange a viewing.
Exeter Rental Market
Exeter presents a golden opportunity for investors eyeing the property on Codrington Street, positioning investors perfectly to capitalise on Exeter’s rental market.
This historic city is a hub of culture and education and a burgeoning centre for business and innovation.
With the University of Exeter standing as a beacon of academic excellence, the city attracts a vibrant community of students and young professionals, ensuring a constant demand for quality housing.
The city’s economy is on an upward trajectory, bolstered by technology, retail, and healthcare sectors, thereby promising investors a dynamic and growing market.
Broadband: Ultrafast 1000mbps available
Ground Floor
Living / Kitchen / Dining Room 4.93 x 9.95 m (16'2 x 12'11 ft)
Bedroom 1 2.42 x 3.23 m (7'11 x 10'7 ft)
Bedroom 2 3.44 x 2.17 m (11'3 x 7'1 ft)
En suite Shower room
First Floor
Shower Room
Bathroom
Bedroom 3 3.66 x 2.33 m (12'0 x 7'7 ft)
Bedroom 4 3.68 x 2.63 m (12'1 x 8'7 ft)
Bedroom 5 2.58 x 3.22 m (8'5 x 10'6 ft)
Second Floor
Bedroom 6 4.68 x 4.76 m (15'4 x 15'7 ft)
Council tax band: B
- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: B
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Permit
- GARDENA property has access to an outdoor space, which could be private or shared.
- Enclosed garden
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Codrington Street, Exeter, Devon
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- St James Park Station0.3 miles
- Exeter Central Station0.6 miles
- Polsloe Bridge Station0.9 miles
About the agent
Keller Williams is all about a dedicated, bespoke and personal service. Our agents operate locally and have an unrivalled understanding of property in their area. We go the extra mile to sell your property. You will have one dedicated agent who will manage the transaction through from start to finish. To us, service is paramount and you will notice the difference at every step of your property journey.
Keller Williams is the number one estate agency in the world, with the highest number
Notes
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Visit our security centre to find out moreDisclaimer - Property reference ZBOGDANOV0003503548. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Keller Williams Oxygen, Maidenhead. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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