Old Tiverton Road, Exeter £1,000,000

A fantastic investment property comprising 11 fully occupied flats, generating a net income of £93,200.03. Additionally, there exists promising development potential, allowing for the extension of the main building or construction of a mews house in the garden (subject to planning permission). Strategically located in a highly desirable central area, this property presents an excellent opportunity for investors.

Flat 1
Current rent is £650 per month and the tenant pays all the bills except water. Yearly income of £7800

Flat 2
Current rent is £750 per month and the tenant pays all the bills except water. Yearly income of £9000

Flat 3
Current rent is £700 per month and the tenant pays all the bills except water. Yearly income of £8400

Flat 4
Current rent is £700 per month and the tenant pays all the bills except water. Yearly income of £8400

Flat 5
Current rent is £750 per month and the tenant pays all the bills except water. Yearly income of £9000

Flat 6
Current rent is £800 per month and the tenant pays all the bills except water. Yearly income of £9600

Flat 7
Current rent is £750 per month and the tenant pays all the bills except water. Yearly income of £9000

Flat 8
Current rent is £800 per month and the tenant pays all the bills except water and the council tax Yearly income of £9600

Flat 9
Current rent is £750 per month and the tenant pays all the bills except water. Yearly income of £9000

Flat 10
Current rent is £800 per month and the tenant pays all the bills except water and the council tax Yearly income of £9600

Flat 11
Current rent is £750 per month and the tenant pays all the bills except water. Yearly income of £9000

Total income and outgoings
The total gross income is £98,400. The total outgoings are

- £2,890.14 for the council tax
- £2,309.83 for the water for.

So the net income is £93,200.03

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.