8 bedroom block of apartments for sale

Lummaton Cross, Torquay, Devon, TQ2

Sold STC £399,950

Property Description

Key features

  • SUBSTANTIAL DETACHED BUILDING ARRANGED AS FIVE FLATS
  • 1 X 3 BED FLAT, 4 X 1 BED FLATS - ALL LET
  • POTENTIAL TO DEVELOP LARGE OUTBUILDING INTO STUDIO FLAT
  • COMMUNAL GARDENS AND OFF ROAD PARKING FOR 8 CARS
  • ALL FLATS FITTED WITH HEATING & DOUBLE GLAZING
  • PRODUCING 34,800 PER ANNUM - CIRCA GROSS YIELD OF 8.70%

Full description

Tenure: Freehold

Substantial Five Flat Investment Property.

A spacious detached Victorian villa extended and converted into five separate self contained flats, arranged over two floors and all let and producing 34,800 gross per annum. Located close to the local shops at Barton and within easy walking distance of The Willows or a short drive to Torbay Hospital. This property offers any buyer an immediate rental investment offering a gross yield of circa 8.70%. The property is set up in such a way that all the rents are inclusive of electric, gas and water so the actual gross rent is reduced to circa 29,800 so offering a net yield of 7.45%. Ideal rental investment or perhaps home with income opportunity. Viewing strictly by appointment only.

SUBSTANTIAL DETACHED BUILDING ARRANGED AS FIVE FLATS
1 X 3 BED FLAT, 4 X 1 BED FLATS ALL LET
POTENTIAL TO DEVELOP LARGE OUTBUILDING INTO STUDIO FLAT
COMMUNAL GARDENS AND OFF ROAD PARKING FOR 8 CARS
ALL FLATS FITTED WITH HEATING & DOUBLE GLAZING
PRODUCING 34,800 PER ANNUM WITH CIRCA GROSS YIELD OF 8.70%

THE ACCOMMODATION WITH APPROXIMATE MEASUREMENTS:

GROUND FLOOR

Flat 4 - Let and producing 700 pcm.

Hallway

Lounge
17ft 11in x 13ft 5in Double aspect white UPVC double glazed windows overlooking side and garden, feature mantelpiece, picture rails, radiator, TV aerial point, large bright room.

Kitchen
14ft 5in x 11ft 11in Range of wall and floor units, work surfaces to match, stainless steel sink unit with mixer taps, built in oven and grill, four ring gas hob, extractor hood over, breakfast table, Gloworm combination boiler, door to:

Sun Lounge
9ft 11in x 8ft 7in White UPVC double glazed windows and door to garden, sliding door to:

Utility Room
Assortment of storage cupboards and shelving, stainless steel sink unit, plumbed for washing machine, space for fridge/freezer, UPVC double glazed window.

Bedroom 1
19ft 6in max x 14ft 4in White UPVC double glazed bay window, built in wardrobes and dressing table, two radiators, TV aerial point.

Bedroom 2
13ft 5in x 12ft 2in White UPVC double glazed window, built in wardrobes with dressing table, radiator.

Bedroom 3
11ft 11in x 8ft 11in White UPVC double glazed window, radiator.

Bathroom
Suite comprising panelled bath, vanity wash hand basin, low level WC, part tiled walls, radiator, white UPVC double glazed window in obscure glass.

Shower Room
Suite comprising enclosed shower cubicle, pedestal wash hand basin, low level WC, part tiled walls, towel rail, radiator, white UPVC double glazed window with obscure glass.

Flat 5 - Let and producing 550 pcm.

Hall

Lounge
11ft 9in x 11ft 5in White UPVC double glazed window, gas heater, TV aerial point.

Kitchen
11ft 5in x 9ft 5in Range of wall and floor units with matching work surfaces, stainless steel sink unit, space for fridge/freezer and cooker, gas heater, white UPVC double glazed window.

Bedroom
11ft 6in x 10ft 0in Electric heater, white UPVC double glazed window.

Bathroom
Suite comprising panelled bath, shower attachment, pedestal wash hand basin, low level WC, cupboard with hot water tank, warm air heater, white UPVC double glazed window with obscure glass.

FIRST FLOOR

Flat 1 - Let and producing 550 pcm.

Lounge
13ft 4in x 10ft 5in White UPVC double glazed window, gas fire, built in cupboard, TV aerial point.

Kitchen
13ft 5in x 6ft 3in Range of wall and floor units with matching work surfaces, stainless steel sink unit, space for fridge/freezer and gas cooker, white UPVC double glazed window.

Bedroom
14ft 3in x 11ft 9in Built in wardrobe, vanity wash hand basin, white UPVC double glazed window, electric heater.

Bathroom
Suite comprising panelled bath with shower attachment, pedestal wash hand basin, low level WC, cupboard with hot water tank, wall heater, white UPVC double glazed window with obscure glass.

Flat 2 - Let and producing 550 pcm.

Lounge
15ft 8in max x 14ft 5in White UPVC double glazed bay window, built in storage cupboard, gas fire, TV aerial point.

Kitchen
8ft 11in x 6ft 10in Range of wall and floor units with matching work surfaces, stainless steel sink unit, space for fridge/freezer and gas cooker, part tiled walls, cupboard with hot water tank, white UPVC double glazed window.

Bedroom
13ft 11in x 12ft 8in Double aspect white UPVC double glazed window, electric heater, vanity wash hand basin.

Bathroom
Suite comprising panelled bath with shower attachment, pedestal wash hand basin, low level WC, towel rail, warm air heater, roof window.

Flat 3 - Let and producing 550 pcm.

Lounge
11ft 9in x 11ft 6in White UPVC double glazed window, gas heater, TV aerial point.

Kitchen
11ft 4in x 9ft 5in Range of wall and floor units with matching work surfaces, stainless steel sink unit, space for fridge/freezer and gas cooker, gas heater, white UPVC double glazed window.

Bedroom
11ft 5in x 10ft 0in White UPVC double glazed window, electric heater.

Bathroom
Suite comprising panelled bath with shower attachment, pedestal wash hand basin, low level WC, cupboard with hot water tank, warm air heater, white UPVC double glazed window in obscure glass.

OUTSIDE

Large Workshop
A very large stone built single storey outbuilding which, subject to planning permission, would lend itself to be converted into a self contained studio apartment. This would give any buyer the possibility of increasing the income further. A studio apartment would achieve circa 350 pcm.

Laundrette
Equipped with washing machine and tumble dryer. Currently available to tenants free of charge, however, any new buyer could install coin meters and increase their revenue. It would not be usual practise for this to be provided free of charge.

Cellar Storage
Good size storage area with power supply.

Garden
A good size lawned rear garden available for the tenants joint use. There is a further garden to the side of the property currently used with the owners accommodation.

Parking
Large open plan car park area with ample parking for all flats plus two car ports currently used by the owners accommodation but could be available for any further apartments.

PRICE 399,950 Freehold


Listing History

Added on Rightmove:
28 September 2017

Nearest stations

  • Torre (1.2 mi)
  • Torquay (2.0 mi)
  • Newton Abbot (3.9 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:

Haarer & Motts, Torquay

165 St. Marychurch Road, Torquay, Devon, TQ1 3HP

01803 367092 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

  • Torre (1.2 mi)
  • Torquay (2.0 mi)
  • Newton Abbot (3.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Haarer & Motts, Torquay

165 St. Marychurch Road, Torquay, Devon, TQ1 3HP

01803 367092 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.

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