7 bed property for sale

Lipson Road, Plymouth PL4

Summary
A rare opportunity to acquire a substantial investment property comprising five self-contained flats arranged over three floors with a good size garage. The property offers three 1-bedroom and two 2-bedroom apartments, generating an impressive rental income of circa £35,000 per annum.

Description
A substantial and versatile residential investment comprising five self-contained apartments arranged over three floors, generating an approximate gross rental income of £35,000 per annum.
The property offers an attractive mix of three one-bedroom and two two-bedroom apartments, providing excellent diversification across multiple rental units and strong appeal to a broad tenant market.
The accommodation briefly comprises: Ground Floor- Two separate one-bedroom flats
First Floor- One one-bedroom flat and one two-bedroom flat
Second Floor- One two-bedroom flat.
The property extends to approximately 2,526 sq ft and provides a well-balanced combination of accommodation, with each apartment benefiting from its own living, kitchen and bathroom facilities.
The property also comes with a useful size garage.
With five independent rental streams, this is an appealing proposition for both experienced landlords and investors seeking to expand an existing portfolio. The current rental income of approximately £35,000 per annum equates to around £2,916 per calendar month, with potential for future rental growth, subject to the local market and tenancy arrangements.

Auctioneer's Comments
This property is offered through Modern Method of Auction. Should you view, offer or bid your data will be shared with the Auctioneer, iamsold Limited. This method requires both parties to complete the transaction within 56 days, allowing buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee of 4.5% of the purchase price including VAT, subject to a minimum of £6600.00 including VAT. This fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to complete an identification process with iamsold and provide proof of how the purchase would be funded. The property has a Buyer Information Pack containing documents about the property. The documents may not tell you everything you need to know, so you must complete your own due diligence before bidding. A sample of the Reservation Agreement and terms and conditions are contained within this pack. The buyer will also make payment of no more than £349 inc. VAT towards the preparation cost of the pack. Please confirm exact costs with the auctioneer. The estate agent and auctioneer may recommend the services of other providers to you, in which they will be paid for the referral. These services are optional, and you will be advised of any payment, in writing before any services are accepted. Listing is subject to a start price and undisclosed reserve price that can change.

Gff 1

Lounge 14' 5" x 14' 4" excluding bay ( 4.39m x 4.37m excluding bay )

Kitchen 7' 10" x 6' 10" ( 2.39m x 2.08m )

Bathroom

Bedroom 10' 10" x 6' 3" ( 3.30m x 1.91m )

gff 2

Kitchen 12' 10" x 12' 8" ( 3.91m x 3.86m )

Lounge 12' 8" x 6' 8" ( 3.86m x 2.03m )

Bedroom 12' 8" x 7' 9" ( 3.86m x 2.36m )

Bathroom

fff 3

Lounge 24' 3" into bay x 10' 10" ( 7.39m into bay x 3.30m )

Kitchen 6' 10" x 6' 2" ( 2.08m x 1.88m )

Bedroom 1 11' 6" x 8' 3" ( 3.51m x 2.51m )

Bedroom 2 11' 4" x 6' 2" ( 3.45m x 1.88m )

Bathroom

fff 4

Living Room 12' 8" x 10' 11" ( 3.86m x 3.33m )

Bedroom

Kitchen 9' x 7' ( 2.74m x 2.13m )

Bathroom

tff 5

Lounge 16' x 10' 9" ( 4.88m x 3.28m )

Bedroom 1 11' 6" x 8' 3" ( 3.51m x 2.51m )

Bedroom 2 10' 9" x 6' 6" ( 3.28m x 1.98m )

Kitchen

Bathroom

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.