Block of flats for sale

Norman Road, Paignton TQ3

Description

Occupying a prime and highly convenient position close to Paignton seafront and town centre, this well-presented investment property is arranged as a six-bedroom HMO, with all rooms currently let and producing an income of £3,300 per calendar month, representing an approximate yield of 11%.

The accommodation is thoughtfully arranged and offers generous communal space, with two reception rooms on the ground floor comprising a lounge and dining room. To the rear, there is a modern kitchen, complemented by an adjoining utility room, providing practical facilities for residents. In addition to the six letting rooms, the property also includes two studies, offering further flexibility within the existing layout.

Each bedroom benefits from its own en-suite facilities, while a communal shower room provides additional functionality. The property is presented to a very good standard throughout, making it a ready-made investment with established rental income from the outset.

There is also potential to enhance the existing return further, subject to any necessary consents and licensing requirements. This could be done by converting one of the reception rooms into an additional lettable unit or by reconfiguring the two studies to create further income-producing rooms.

Location is a key feature, with Paignton town centre, the harbour, Fairy Cove and Goodrington Sands all within walking distance. A wide range of shops, restaurants, leisure facilities, schools and the mainline railway station are also nearby, making this a superbly situated and attractive investment opportunity on the South Devon coast.

Tenure: Freehold