Richmond Road, Exeter £610,000

Nestled on Richmond Road in the vibrant city of Exeter, this impressive six-bedroom house presents a remarkable investment opportunity. Currently operating as a House in Multiple Occupation (HMO), the property generates an annual income of approximately £50,000, with a lease in place until August 2026.

The residence boasts a spacious reception room, perfect for communal gatherings, alongside six well-appointed bedrooms, ensuring ample accommodation for tenants. With four bathrooms, the property is designed to cater to the needs of its occupants, providing convenience and comfort.

Situated in an excellent location, this property is just a stone's throw from the city centre and the University, making it highly desirable for students and professionals alike. The proximity to local amenities, transport links, and recreational areas further enhances its appeal.

Additionally, the property benefits from two secure parking spaces, a rare find in such a central location, offering peace of mind for residents with vehicles.

This property not only promises a steady income but also represents a sound investment in a thriving area. Whether you are an experienced investor or looking to enter the property market, this HMO on Richmond Road is an opportunity not to be missed.

Current Tenancy
The current contract is £154per person per week on a 48 week contract which expires at the end of July 2025. . The new contract is from Septmber 2025 to August 2026 and is for £160 per person on a 48 week contract. Bills are not included. There is also the additional benefit of £5000 per year for the 2 parkings places that come with the house.

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.