4th December 2013
Alder King markets multi-let residential investment opportunity on Magdalen Road, Exeter
Acting on the instructions of Begbies Traynor, Alder King is marketing The Elizabethan, an end of terrace three storey period property at 163 Magdalen Road, Exeter.
The building, which is sub-divided into 12 flats and four bedsits, produces an income of £44,408 based on AST’s and licence agreements but offers the opportunity through general refurbishment and active management to generate additional income.
Scott Rossiter, partner in Alder King’s Exeter office, says: “This multi-let residential investment opportunity will be of great interest to investors and developers. Although the property is in need of refurbishment, the opportunity exists to obtain additional income through the further letting of the vacant flats.”
The premises are being marketed for sale off an asking price of £550,000. For further information or to undertake an inspection, contact our Exeter office on 01392 353080.