Torquay
- PROPERTY TYPE
House of Multiple Occupation
- SIZE
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- 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
- 6-Bedroom House of Multiple Occupation (HMO) Investment
- 3 Rooms Let at £550 PCM (£19,800 p.a. passing rent)
- 3 Vacant Rooms with Asset Management Opportunities
- Scope to Increase Rental Income to Approx. £39,600 PA
- Refurbishment & Value-Add Opportunity in Central Torquay
Description
The property is situated in the heart of Torquay, within easy walking distance of a wide range of town centre amenities including shops, restaurants, leisure facilities and public transport links. Melville Street is a well-established residential area popular with tenants due to its proximity to employment opportunities, the seafront and town centre attractions. This location makes the property particularly attractive for HMO use. The property comprises a mid-terrace 6-bedroom House of Multiple Occupation (HMO), each room benefitting from its own kitchenette, along with 4x shared communal bathroom facilities. The property is currently partially let, with Rooms 3, 5 and 6 occupied under Assured Shorthold Tenancies at £550 per calendar month each, producing a current income of £19,800 per annum. Fully let, the property has the potential to generate approximately £39,600 per annum, representing a strong yield against the asking price.The property is considered well suited to investors seeking a manageable HMO with clear scope for improvement and rental growth. The remaining three rooms are vacant and present varying levels of readiness, with one room ready for immediate re-letting, one recently refurbished and one requiring further works, including new carpets and kitchen refitting. This provides a clear opportunity for purchasers to enhance the asset through refurbishment of the vacant units and upgrading of communal areas, thereby increasing both rental income and overall capital value.
ACCOMMODATION
GROUND FLOOR
Entrance Hall
UTILITY ROOM
4' 11'' x 6' 3'' (1.5m x 1.9m)
With coin fed washing machine and dryer and hot water immersion heater.
COMMUNAL BATHROOM 1
5' 7'' x 6' 3'' (1.7m x 1.9m)
With fitted shower, WC and basin.
ROOM 6
10' 3'' x 14' 11'' (3.13m x 4.54m)
Let at £550 PCM
ROOM 5
15' 9'' x 10' 10'' (4.81m x 3.31m)
Let at £550 PCM
COMMUNAL BATHROOM 2
5' 7'' x 6' 3'' (1.7m x 1.9m)
(currently allocated to room 5).
With fitted shower, WC and basin.
ROOM 4
12' 6'' x 13' 9'' (3.8m x 4.2m)
Vacant
FIRST FLOOR
ROOM 3
11' 6'' x 16' 9'' (3.5m x 5.1m)
Let at £550 PCM
ROOM 2
11' 6'' x 11' 6'' (3.5m x 3.5m)
Vacant
ROOM 1
10' 6'' x 12' 6'' (3.2m x 3.8m)
Vacant
COMMUNAL BATHROOM
5' 3'' x 10' 2'' (1.6m x 3.1m)
With fitted shower, WC and basin.
COMMUNAL BATHROOM 3
6' 7'' x 6' 3'' (2.0m x 1.9m)
With fitted shower, WC and basin.
TENURE
Freehold subject to the occupational ASTs.
HMO LICENSING
The property is currently operated as a licensed 6 bed, 6 person HMO.
HMO licenses are non-transferrable and purchasers will need to be prepared to apply for their own license on completion.
RENT SCHEDULE
Room Status Rent PCM Rent P.A.
Room 6 Let £550 £6,600
Room 5 Let £550 £6,600
Room 3 Let £550 £6,600
Total Passing Rent £19,800
Potential Fully Let Income:
£3,300 PCM / £39,600 per annum
UTILITIES
The property is connected to mains electric and water. Each room is fitted with an individual electric top up meter for usage in their room. The landlord has a supply for communal areas, water heating and laundry services.
Heating is provided via electric heaters in each room.
ASKING PRICE
An asking price of £240,000
EPC RATING D
COUNCIL TAX BAND B
LEGAL COSTS
Each party will be responsible for their own legal costs unless expressly agreed otherwise.
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: B
- 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.
- Ask agent
- 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
Torquay
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Visit our security centre to find out moreDisclaimer - Property reference 12852731. 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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