Torquay
- PROPERTY TYPE
House of Multiple Occupation
- SIZE
Ask agent
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- 20 Unit Fully Licensed HMO – Arranged in Two Semi-Detached Buildings
- Gross Rental Income of £121,020 Per Annum
- Arranged as 12 Studios, 4 x 1 Bed Flats and 4 Self Contained Flats
- Spread Across Four Floors – Mix of Self Contained & Shared Facilities
- Each Unit Fitted with Electric Sub Meter with Landlord Solar Panels on Roof
Description
Situated on Morgan Avenue, just a short walk from Torquay town centre, seafront, and local amenities. The property benefits from easy access to public transport links, with Torquay Train Station and main bus routes close by. A substantial investment property comprising two adjoining buildings, each arranged over four floors. Fully licensed for 30 occupants (and currently occupied by 24), the accommodation includes 12 studio units, 4 x 1 bed units and 4 self-contained flats. All units have their own kitchen facilities, with the 12 studios and 4 x 1 bed units sharing WCs and showers on the ground and first floors. The property is presented in good condition and has been established as a HMO for many years. The current owner has upgraded certain areas including the gas central heating, fuse boards and flat roofs, and has installed a solar panel system. The current configuration delivers an excellent return, with gross rental income of £121,020 per annum. The property offers immediate income potential alongside significant scope for capital appreciation through further improvements.
19 MORGAN AVENUE
LOWER GROUND FLOOR
Boiler Room & Landlord's Storage.
FLAT 20
Accessed via the rear of the property, with its own front door and courtyard garden.
LIVING ROOM
9' 7'' x 16' 5'' (2.92m x 5.00m)
KITCHEN
11' 5'' x 13' 6'' (3.48m x 4.11m) (max)
BEDROOM
11' 2'' x 15' 2'' (3.40m x 4.62m)
BATHROOM
GROUND FLOOR
STUDIOS 11-14
With fitted kitchens.
WC/SHOWER ROOM
LAUNDRY ROOM
FIRST FLOOR
STUDIOS 15-18
With fitted kitchens.
WC
SHOWER ROOM
SECOND FLOOR
FLAT 19
LIVING ROOM
13' 7'' x 23' 7'' (4.14m x 7.19m)
KITCHEN/DINING
13' 1'' x 11' 1'' (3.99m x 3.38m)
BEDROOM
7' 8'' x 15' 3'' (2.34m x 4.65m)
BATHROOM
21 MORGAN AVENUE
LOWER GROUND FLOOR
FLAT 10
LIVING ROOM
12' 4'' x 16' 5'' (3.76m x 5.00m)
KITCHEN
12' 2'' x 9' 0'' (3.72m x 2.75m) (max)
BEDROOM
7' 3'' x 17' 5'' (2.20m x 5.31m)
BATHROOM
GROUND FLOOR
STUDIOS 1-4
With fitted kitchens.
WC/SHOWER ROOM
LAUNDRY ROOM
FIRST FLOOR
STUDIOS 5-8
With fitted kitchens.
WC & SHOWER ROOM
SECOND FLOOR
FLAT 9
LIVING ROOM
13' 7'' x 12' 0'' (4.14m x 3.65m)
KITCHEN/DINING ROOM
13' 1'' x 11' 1'' (3.99m x 3.38m)
BEDROOM
BEDROOM
BATHROOM
TENURE
Freehold, subject to the residential ASTs.
UTILITIES
The landlord pays for the gas, water and electricity. Electricity gets charged back to the tenants through sub meters, which the landlord reads and charges the tenants accordingly for.
The landlord averages an additional £2,100 per annum from the solar panels and £3,600 from the laundry coin meters.
EPC RATINGS
19 Morgan Avenue – D.
Flat 19, 19 Morgan Avenue – D.
Flat 20, 19 Morgan Avenue – C.
21 Morgan Avenue – D.
Flat 9, 21 Morgan Avenue – C.
Flat 10, 21 Morgan Avenue – C.
COUNCIL TAX
19 Morgan Avenue – C.
Flat 19, 19 Morgan Avenue – B.
Flat 20, 19 Morgan Avenue – A.
21 Morgan Avenue – C.
Flat 9, 21 Morgan Avenue – B.
Flat 10, 21 Morgan Avenue – A.
The landlord pays the council tax rates for 19 and 21 Morgan Avenue, and the individual flat tenants pay their own council tax.
LEGAL COSTS
Each party to bear their own legal costs.
RENT SCHEDULE
Current Gross Rental Income: £121,020 Per Annum.
Flat Rent PCM
1 - £450.
2 - £450.
3 - £400.
4 - £475.
5 - £400.
6 - £450.
7 - £450.
8 - £550.
9 - £750.
10 - £740.
11 - £450.
12 - £450.
13 - £400.
14 - £475.
15 - £400.
16 - £450.
17 - £450.
18 - £535.
19 - £630.
20 - £730.
VIEWING
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
Brochures
Property BrochureFull Details- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Band: A
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Ask agent
- GARDENA property has access to an outdoor space, which could be private or shared.
- Yes
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
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Visit our security centre to find out moreDisclaimer - Property reference 12733403. 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, Devon. 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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