7 bedroom block of apartments for sale

Paignton

Guide Price £300,000

Property Description

Key features

  • A Residential Investment Property
  • 7 Self Contained Letting Flats
  • Great location Close to Seafront and Town
  • Well Maintained Property with Established Tenants
  • Gross Rental Income 555 Per Week (28,860 Per Annum)
  • Current Rents from 67 - 100 Per Week
  • Offering Potential for Growth in Future Income

Full description

PRICE GUIDE: £300,000 - £320,000 FREEHOLD. The property comprises a block of 7 self contained residential letting apartments. In a substantial three storey terraced house, located in a great letting area, just off Paignton Seafront giving easy access to the Town Centre and other amenities. The property is offered to sale as a going concern residential investment, which has been in its present ownership for over 14 years. The current owners let the flats offering good value accommodation to the tenants therefore, keeping high levels of occupancy and worth while income throughout the year. The flats are let from between £67-£100 per week, with the tenants being responsible for their own council tax and electricity and the Landlord providing central heating and hot water from the communal system and water rates. Although, this business model has been very successful for the present owners. New operators may wish to realise the potential the property offers for growth in the rental income. The property is generally well maintained throughout with double glazing and central heating. The use of 7 residential flats is permitted by planning permission under a certificate of lawful use granted in February 2006. Viewing can be arranged by prior appointment with the Agents.


GROUND FLOOR  

COMMUNAL ENTRANCE  
Door with hallway and staircase to:-

UPPER FLOORS  

FLAT 1  
LIVING ROOM 14' 8'' x 11' 3'' (4.47m x 3.44m) Open to:- KITCHEN 17' 6'' x 2' 6'' (5.33m x 0.76m) With a range of modern units and has boiler supplying the central heating and hot water throughout the building. BEDROOM 10' 0'' x 10' 8'' (3.06m x 3.26m) SHOWER ROOM & WC Door to the rear and good sized enclosed:- COURTYARD/PARKING With access from the rear service lane.

FLAT 2  
LIVING ROOM 14' 0'' x 17' 0'' (4.26m x 5.19m) With KITCHEN AREA Bay window overlooking the front. SHOWER ROOM With shower and WC. BEDROOM 9' 0'' x 7' 8'' (2.74m x 2.34m) Plus recess. FIRST FLOOR LANDING

FLAT 3  
STUDIO BED SITTING ROOM 10' 9'' x 13' 11'' (3.27m x 4.25m) KITCHEN AREA SHOWER ROOM & WC

FLAT 4  
STUDIO BED SITTING ROOM 12' 1'' x 14' 1'' (3.69m x 4.3m) With KITCHEN AREA SHOWER ROOM & WC

FLAT 5  
LIVING ROOM 10' 9'' x 14' 1'' (3.28m x 4.28m) With KITCHEN AREA BEDROOM 10' 10'' x 7' 1'' (3.31m x 2.15m) SHOWER ROOM & WC

SECOND FLOOR  

LANDING  

FLAT 6  
SPACIOUS LIVING ROOM With KITCHEN AREA SHOWER & WC BEDROOM

FLAT 7  
LIVING ROOM With KITCHEN AREA 14' 0'' x 9' 8'' (4.26m x 2.94m) BEDROOM 11' 2'' x 8' 3'' (3.40m x 2.51m) SHOWER ROOM & WC

TENANCIES  
The flats are currently Let on a Assured Shorthold Tenancy basis, to individual tenants who each pay their own separate Council Tax (Band A). Electricity is paid for via Landlord's sub meters and the Landlord provides communal central heating and hot water.

CURRENT RENTS  
FLAT 1 - £100 Per Week. FLAT 2 - £82.50 Per Week. FLAT 3- £67.50 Per week. FLAT 4 - £67.50 Per Week. FLAT 5 - £77.50 Per Week. FLAT 6 - £82.50 Per Week. FLAT 7 - £77.50 Per week. Total rents for £545 Per Week. (£28,860 Per Annum)

EPC RATING C  
Certificate dated 11th January 2010.

PLANNING 
The property has the benefit of a certificate of lawful use or development certificate dated the 28th February 2006, to the ground floor flats and a certificate of lawful use or development certificate for use of 5 dwellings relating to flats 3,4,5,6 & 7 as residential flats.

COUNCIL TAX BAND A  

VIEWING  
Viewing is highly recommended and can be arranged by prior appointment with the Sole Agents, Bettesworths.

More information from this agent

Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
27 February 2017

Nearest stations

  • Paignton (0.2 mi)
  • Torquay (1.9 mi)
  • Torre (2.7 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

Bettesworths, Torquay

29 - 30 Fleet Street, Torquay, TQ1 1BB

01803 367002 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Bettesworths, Torquay

29 - 30 Fleet Street, Torquay, TQ1 1BB

01803 367002 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Paignton (0.2 mi)
  • Torquay (1.9 mi)
  • Torre (2.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Bettesworths, Torquay

29 - 30 Fleet Street, Torquay, TQ1 1BB

01803 367002 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 7570109. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bettesworths, Torquay. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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