Richmond Road, Exeter, Devon, EX4 Property for sale

A Rare Freehold Investment Opportunity in the Heart of Exeter City Centre

Situated in an enviable city centre location, this substantial terraced property presents a unique opportunity to acquire a fully income-producing freehold investment in one of Exeter's most sought-after and consistently popular rental areas.

Offered to the market with no onward chain, the property has been successfully converted into three self-contained one-bedroom apartments, each providing well-proportioned accommodation including a bedroom, bathroom, kitchen facilities and living space. The apartments are currently occupied by excellent long-term tenants, all of whom have been highly regarded and vouched for by the current owner, offering prospective purchasers’ immediate rental income from day one.

The property is currently generating an attractive rental income of approximately £2,700 per calendar month, making it an appealing proposition for both seasoned investors looking to expand their portfolio and those seeking a well-established investment in a prime location. With Exeter continuing to enjoy strong tenant demand due to its thriving city centre, university presence and excellent transport connections, properties of this nature are rarely available on the open market.

One of the most compelling features of this investment is the significant scope for future enhancement. The property benefits from a substantial loft space which, subject to the necessary planning consents and building regulations, may offer the potential to create an additional self-contained apartment. This presents an exciting opportunity to further increase rental yields and maximise the property's long-term investment value.

The location is undoubtedly one of the property's strongest assets. Positioned within the very heart of Exeter, residents enjoy immediate access to an extensive range of amenities including award-winning restaurants, cafés, bars, shopping facilities, leisure centres and cultural attractions. Exeter Central and Exeter St David's railway stations are both easily accessible, while the city's renowned university and business districts continue to support strong year-round rental demand.

Whether you are seeking a turnkey investment with established income, a portfolio addition with future development potential, or a freehold asset in a prime city centre setting, this versatile property offers an exceptional opportunity to secure a highly desirable investment in one of Devon's most vibrant cities.

Viewing is highly recommended to fully appreciate both the immediate income stream and the exciting future potential that this exceptional freehold property has to offer.

Please note that an AML fee is chargeable to the buyer once an offer is accepted to cover the cost of carrying out the required identity and anti-money laundering checks. Once these checks have been completed, the fee cannot be refunded, even if the property purchase does not go ahead.