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Description

INVESTMENT OPPORTUNITY - A large end terrace property arranged as 6 self-contained apartments, located close to Paignton sea front and town centre

A substantial End Terraced Victorian property situated within close proximity to Paignton sea front, local shops and amenities. This property is currently arranged as 6 self-contained units all currently let with an annual income of £31,320 giving a yield of 7.5% return.
 
Small front courtyard garden. Communal front door leading to Communal Hallway with Fire alarm and cupboard.  Stairs to First Floor leading to Flat 4, Flat 5 & Flat 6.

Flats 1,2 and 3 are accessible from the rear of the property with a communal rear garden.

Flat 1 – Tenanted - £320 pcm
Studio flat. Accessible from the rear of the property. Ground floor.
Bedroom/Lounge 4.01m x 3.32m
Kitchen 1.67m x 1.72m
Shower room 1.54m x 1.46m
EPC = Current 60, D – Potential 90, B
Council tax band = A

Flat 2 – Tenanted - £430 pcm
Studio flat. Accessible from the rear of the property. Ground floor.
EPC = Current 60, D – Potential 69, C
Council tax band = A

Flat 3 – Tenanted - £500 pcm
One Bedroom. Accessible from the rear of the property. Ground floor.
Lounge 4.20m x 3.75m
Kitchen 1.59m x 2.13m
Bedroom 4.15m x 4.03m
Shower room 2.38m x 1.05m
EPC = Current 71, C – Potential 75, C
Council tax band = A

Flat 4 – Tenanted - £360 pcm
Studio. Accessible from the front of the property. First floor.
Bedroom/Lounge/Kitchen 5.26m x 3.21m
Shower room
EPC = Current 63, D – Potential 71, C
Council tax band = A

Flat 5 – Tenanted - £500 pcm
One Bedroom. Accessible from the front of the property. First floor.
Lounge, Kitchen, Bedroom, Bathroom
EPC = Current 73, C – Potential 78, C
Council tax band = A

Flat 6 – Tenanted - £500 pcm
One Bedroom. Accessible from the front of the property. Second floor.
Lounge 4.23m x 2.75m
Kitchen 4.24m x 2.52m
Bedroom 4.22m x 2.81m
En-suite shower room 1.44m x 1.79m
Utility room/potential second bedroom 2.33m x 1.79m
W/C 1.36m x 0.80m
EPC = Current 54, E – Potential 69, C
Council tax band = A

Total annual rent £31,320

The vendor has informed us that the annual gas bill is approximately £1,000 as the flats have background heating included in the rent from a communal gas boiler.