WHOLE BUILDING INVESTMENT Flat 1-4, North Road West, Plymouth, Devon, PL1 5DQ

Smeaton Homes is delighted to present this unique investment opportunity, a block of four self-contained flats, all held under one title, situated in the highly sought-after North Road West area of Plymouth. This property offers a compelling proposition for both seasoned and new investors looking to expand their portfolio within a vibrant local community.

Upon entering this well-positioned building, you will find four distinct living spaces, each designed for independent living. The property currently comprises four reception rooms, four bedrooms, and four bathrooms, ensuring ample accommodation across the block. Two of the flats benefit from gas central heating (GSH), while the remaining two are equipped with efficient electric heating systems, catering to diverse tenant preferences and energy management.

This investment currently generates a stable income of £25,080 per annum, providing an attractive yield of 8.7%. With annual expenses estimated at £2,200, the profitability is clear. Furthermore, there is significant potential to increase the rental income to £31,000 per annum, which would elevate the yield to an impressive 10.6%. This projection highlights the property's strong future earning capacity and its appeal as a long-term asset.

The location on North Road West offers excellent connectivity and access to local amenities, making it a desirable area for tenants. Residents benefit from permit parking, a practical solution for city living. The Energy Performance Certificates (EPCs) for the individual flats are rated C, D, D, and D, indicating varying levels of energy efficiency, with scope for potential improvements to enhance their appeal and reduce running costs further. All flats are currently within Council Tax Band A, offering an attractive cost profile for tenants.

This property is not merely a collection of flats; it represents a strategic investment in Plymouth's thriving rental market. As Plymouth's Landmark Estate Agents, Smeaton Homes understands the local landscape intimately and can provide expert insight into maximising this property's potential. Our proactive and creative approach ensures we guide you through every step, offering honest advice and a commitment to achieving your investment goals. This is an opportunity to acquire a substantial asset with strong current returns and significant growth potential, all within a community-focused setting.