Property photos
Just added
£350,000
6 bed terraced house for sale
Codrington Street, Exeter, Devon EX16 beds
3 baths
EPC rating: D
Key Information
Local area information
Property location
Nearby amenities
- Newtown Primary School 0 miles
- The Maynard School 0.2 miles
- St James Park (Exeter) 0.3 miles
- Exeter Central 0.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Exeter to find out more about the local area.
Features and description
- 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
Overview
Introducing an exceptional investment opportunity: A six-bedroom HMO with a C4 classification strategically located just a stone's throw from the city centre. This property represents a prime investment, poised for refurbishment and refinancing to unlock its full revenue potential. With the ability to significantly increase rental yields through modernisation, this investment comes without the complications of a chain.
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
Kitchen
16'2x12'11 ft
4.93x9.95 m2
Hallway
11'11x5'6 ft
3.64x1.69 m2
1 Bedroom
7'11x10'7 ft
2.42x3.23 m2
2 Bedroom with En-suite Shower room
11'3x7'1 ft
3.44x2.17 m2
Shower Room
5'8x3'11 ft
1.75x1.20 m2
Approximate Total Area
531.42 ft
49.37 m2
------------------------------------------------------
1st Floor
3rd Bedroom
12'0x7'7 ft
3.66x2.33 m2
4th Bedroom
12'1x8'7 ft
3.68x2.63 m2
5th Bedroom
8'5x10'6 ft
2.58x3.22 m2
Landing
7'3x5'6 ft
2.21x1.68 m2
Hallway
4'2x2'1 ft
1.27x0.88 m2
Approximate Total Area
447.41 ft
41.57 m2
------------------------------------------------------
Top Floor
6th Bedroom
15'4x15'7 ft
4.68x4.76 m2
Landing
2'5x5'5 ft
0.76x1.66 m2
Approximate Total Area
212.76 ft
19.77 m2
Council tax band: B
Introducing an exceptional investment opportunity: A six-bedroom HMO with a C4 classification strategically located just a stone's throw from the city centre. This property represents a prime investment, poised for refurbishment and refinancing to unlock its full revenue potential. With the ability to significantly increase rental yields through modernisation, this investment comes without the complications of a chain.
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
Kitchen
16'2x12'11 ft
4.93x9.95 m2
Hallway
11'11x5'6 ft
3.64x1.69 m2
1 Bedroom
7'11x10'7 ft
2.42x3.23 m2
2 Bedroom with En-suite Shower room
11'3x7'1 ft
3.44x2.17 m2
Shower Room
5'8x3'11 ft
1.75x1.20 m2
Approximate Total Area
531.42 ft
49.37 m2
------------------------------------------------------
1st Floor
3rd Bedroom
12'0x7'7 ft
3.66x2.33 m2
4th Bedroom
12'1x8'7 ft
3.68x2.63 m2
5th Bedroom
8'5x10'6 ft
2.58x3.22 m2
Landing
7'3x5'6 ft
2.21x1.68 m2
Hallway
4'2x2'1 ft
1.27x0.88 m2
Approximate Total Area
447.41 ft
41.57 m2
------------------------------------------------------
Top Floor
6th Bedroom
15'4x15'7 ft
4.68x4.76 m2
Landing
2'5x5'5 ft
0.76x1.66 m2
Approximate Total Area
212.76 ft
19.77 m2
Council tax band: B
There are some planning applications within 0.5 miles of this home
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Listed by
Keller Williams
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