Block of flats for Sale in Abbey Road, Torquay£300,000
INVESTMENT PROPERTY NEW TO MARKET: Call to view this investment property comprising of three residential flats & one commercial premises. Property is approximately earning an annual income of £25,000 with potential to increase & offering a potential yield of 8.3%.
Large end-terraced four-storey investment property made into three residential flats and one commercial premises currently let as a restaurant. Providing off-street parking for up to 5/6 cars.
Approximate yearly income of £25,000 with the potential to increase.
The property is conveniently located near to the shops on Abbey Road which leads to the town centre and amenities.
Flat 1 is currently let to tenants on an assured shorthold tenancy whilst the remaining two flats are vacant.
Basement Flat - Studio (Vacant) (Currently advertised at £430 pcm)
Accessed from the rear of the property through a UPV double glazed door. Recently renovated. Studio flat comprising of carpeted hallway with storage cupboard, carpeted lounge/bedroom which leads to kitchen area with cooker, bathroom off of hallway, electric heating.
Council tax band=A.
Flat 1 - One bedroom (Tenanted) (£430 pcm)
Accessed from the rear of the property via an external metal staircase to the first-floor which leads to shared access to both Flat 1 & 2. One bedroom flat comprising of carpeted hallway, double bedroom, open plan lounge/kitchen and bathroom, electric heating.
EPC=E, Council tax band=A.
Flat 2 - One bedroom (Vacant) (Currently advertised at £445 pcm)
Accessed from the rear of the property via an external metal staircase to the first-floor which leads to shared access to both Flat 1 & 2. Recently renovated. Entering flat 2, stairs lead to second-floor. One bedroom flat comprising of carpeted stairs & hallway, double bedroom, separate lounge & kitchen, bathroom, electric heating.
EPC=E, Council tax band=A.
Commercial Premises - (Tenanted) (£780 pcm)
Accessed from the front of the property via public entrance or side access for the proprietor. Commercial premises currently let and operated as a restaurant. Consisting of large seating dining area for patrons extending from the front of the property to the rear with separated counter/till area for staff, commercial kitchen area, W/C, hallway which leads to basement with large storage room.
Large driveway with side access to the commercial premises, driveway extends to the rear of the property with space for 5/6 cars.
Income: Approximately £25,000 per annum.
VAT: All figures quoted are exclusive of VAT whether chargeable or not. Interested parties are recommended to establish any VAT implications before entering into any agreement.