Block of flats for Sale£950,000
INVESTMENT PROPERTY - Semi detached building arranged as 11 flats producing a good return.
This semi-detached investment property is arranged as six one bedroom flats and five two bedroom flats. The property is situated in a convenient location and occupies a corner plot on the junction of Warbro Road with Aveland Road, at the end of which is Cary Park with its open spaces, childrens play area, tennis courts and bowls green. Babbacombe Downs and local beaches are also within easy reach. There are local shopping facilities and amenities at Babbacombe, Plainmoor and St Marychurch which are all within a fairly level fifteen minute walk, while the main town centre is approximately a mile away.
There are six x 1 bedroom flats and five x 2 bedroom flats set over three floors.
We understand the flats are fully let on assured shorthold tenancies with the current rental figures are as follows:
Flat 1 - £563 PCM, £129.92 a week.
Flat 2 - £520 pays 4 weekly, £130 a week.
Flat 3 - £563.33 PCM, £129.99 a week.
Flat 4 - £476 PCM, £109.85 a week.
Flat 5 - £476 PCM, £109.85 a week.
Flat 6 - £495 PCM, £114.23 a week.
Flat 7 - £563 PCM, £129.92 a week.
Flat 8 - £495 PCM, £114.23 a week.
Flat 9 - £476 PCM, £109.85 a week.
Flat 10 - £476 PCM, £109.85 a week.
Flat 11 - £125 per week.
Giving an annual turnover of approximately £68,000.
Outside. Car park to the front and side of the building. Bin area. Small garden area.
Council Tax Bands : Flats 1 and 2 Band B, Flats 3-11 Band A.
Energy Performance Ratings : Flats 2, 4, 5, 6, 7, 8, 9 are Band C. Flats 1, 3, 10, 11 are Band D.
Consumer Protection from Unfair Trading Regulations 2008 The agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are not included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property. Please inform us of any particular requirements that are important to you prior to viewing.