£450,000
Block of flats for saleCleveland Road, Torquay TQ2
Freehold
About this property
A Block of Five Separate Self-Contained Residential Flats
1 x 2 Bedroom Flat, 3 x 1 Bedroom Flats and a Studio Flat
Each with their Own Parking Space & Fully Independent Utilities
Current Income of £40,800 Per Annum with Scope for Future Rental Growth
Very Well Presented & Well Managed Investment
A Block of Five Separate Self-Contained Residential Flats. 1 x 2 Bedroom Flat, 3 x 1 Bedroom Flats and a Studio Flat.
The Property is conveniently located on Cleveland Road in the Torre area of Torquay. This edge of town residential setting is convenient with level access to Torquay seafront approximately a quarter of a mile away. The extensive amenities of Torre (approx. ¼ of a mile) and Torquay town centre approx. ½ mile).
Cleveland Road sits adjacent to Torquay's main arterial road (Newton Road), which provides nearby dual carriageway access to/from Newton Abbot, Exeter and the motorway network beyond. Torre Station is approximately 500 metres away.
Wilmington is a large extended, semi detached Victorian villa, with substantial car park and garden area.
Historically holiday flats, our clients remodelled and comprehensively renovated the accommodation to provide five independent, self-contained flats each with independent utility supplies and a private parking space. The investment has been particularly well managed and is well presented with a strong stable income. It is now for sale due to retirement.
Garden Flat
A substantial two bedroom garden level flat with:-
Hallway, Lounge Diner, Kitchen, Utility Room, 2 Double Bedrooms and Patio Garden.
Ground Floor
Flat 1
A studio flat with:-
Kitchen/Living Area and Shower Room.
Flat 2
A one bedroom flat with:-
Lounge, Double Bedroom, Kitchen and Shower Room.
First Floor
Flat 3
A one bedroom flat with:-
Lounge, Kitchen, 1 Double Bedroom, Shower Room & WC.
Flat 4
A one bedroom flat with:-
Bedroom, En-Suite Shower Room, Kitchen and Living Room.
Management
The property is currently self managed by the owner landlord.
Tenancies
Garden Flat - £975 pcm - Occupied under an AST.
Flat 1 - £525 pcm - Occupied under an AST.
Flat 2 - £725 pcm - Occupied under an AST.
Flat 3 - £595 pcm - Occupied under an AST.
Flat 4 - £580 pcm - Occupied under an AST.
Monthly income £3,400 (£40,800 per annum)
Utilities
Each flat has an independent supply of gas, water and electricity and is independently assessed for council tax. The tenants are responsible for their own utility contracts and costs.
EPC Rating's
Garden Flat - D.
Flat 1 - C.
Flat 2 - D.
Flat 3 - C .
Flat 4 - C.
Legal Costs
Each party are to bear their own legal costs incurred in any transaction.
Viewing
Viewing is by appointment with the Sole Agents, Bettesworths.
The Property is conveniently located on Cleveland Road in the Torre area of Torquay. This edge of town residential setting is convenient with level access to Torquay seafront approximately a quarter of a mile away. The extensive amenities of Torre (approx. ¼ of a mile) and Torquay town centre approx. ½ mile).
Cleveland Road sits adjacent to Torquay's main arterial road (Newton Road), which provides nearby dual carriageway access to/from Newton Abbot, Exeter and the motorway network beyond. Torre Station is approximately 500 metres away.
Wilmington is a large extended, semi detached Victorian villa, with substantial car park and garden area.
Historically holiday flats, our clients remodelled and comprehensively renovated the accommodation to provide five independent, self-contained flats each with independent utility supplies and a private parking space. The investment has been particularly well managed and is well presented with a strong stable income. It is now for sale due to retirement.
Garden Flat
A substantial two bedroom garden level flat with:-
Hallway, Lounge Diner, Kitchen, Utility Room, 2 Double Bedrooms and Patio Garden.
Ground Floor
Flat 1
A studio flat with:-
Kitchen/Living Area and Shower Room.
Flat 2
A one bedroom flat with:-
Lounge, Double Bedroom, Kitchen and Shower Room.
First Floor
Flat 3
A one bedroom flat with:-
Lounge, Kitchen, 1 Double Bedroom, Shower Room & WC.
Flat 4
A one bedroom flat with:-
Bedroom, En-Suite Shower Room, Kitchen and Living Room.
Management
The property is currently self managed by the owner landlord.
Tenancies
Garden Flat - £975 pcm - Occupied under an AST.
Flat 1 - £525 pcm - Occupied under an AST.
Flat 2 - £725 pcm - Occupied under an AST.
Flat 3 - £595 pcm - Occupied under an AST.
Flat 4 - £580 pcm - Occupied under an AST.
Monthly income £3,400 (£40,800 per annum)
Utilities
Each flat has an independent supply of gas, water and electricity and is independently assessed for council tax. The tenants are responsible for their own utility contracts and costs.
EPC Rating's
Garden Flat - D.
Flat 1 - C.
Flat 2 - D.
Flat 3 - C .
Flat 4 - C.
Legal Costs
Each party are to bear their own legal costs incurred in any transaction.
Viewing
Viewing is by appointment with the Sole Agents, Bettesworths.
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Monthly repayment
£2,251 per month
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