This investment opportunity in Alphington, Exeter presents a fully licensed and extensively refurbished House in Multiple Occupation (HMO) with significant rental prospects. Currently configured with 12 letting units—comprising 4 self-contained flats/studios and 8 spacious rooms with kitchenettes and shared bathroom facilities—this property is primed for immediate returns while offering additional development potential on a generous plot, including a sizable barn that may be convertible into another dwelling, subject to planning permission.
The refurbishment includes essential updates such as a new Electrical Installation Condition Report (EICR), Grade A fire safety system, and compliance with all relevant Fire Risk Assessment (FRA) actions. The integration of keyless entry systems and a newly installed roof enhances both convenience and security.
Occupying over 4000 sqft, the main house is designed efficiently over three floors. The ground floor features two self-contained units: one studio with an attractive bay window, and one apartment with a combined kitchen/living space. There are also larger units offering separate living areas. The first floor contains two studios along with two additional let rooms sharing bathroom facilities, while the second floor has five more letting rooms.
The extensive grounds of approximately ¼ acre include parking for residents at the rear, presenting further opportunities for site development pending planning consents. The potential annual revenue at full capacity is estimated at around £120,000, translating to an appealing yield of approximately 12%. Management services from specialized HMO agents are readily available.
Located conveniently near the A30 and M5 motorway connections, this property boasts proximity to Marsh Barton—a prominent employment hub—as well as local amenities within the community-focused village of Alphington. Its attractive position within the Devon countryside underscores its desirability among tenants seeking both accessibility and lifestyle appeal.
