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Block of Apartments for sale


Removed £310,000

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

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.

More information from this agent

Energy Performance Certificates (EPCs)

Listing History

Added on Rightmove:
30 July 2018

Map & Street View

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