3 bed terraced house for sale

Newton Road, Torquay TQ2

An excellent opportunity for investors to acquire the entire freehold of this substantial property, currently arranged as two separate self-contained dwellings and offering an exceptionally strong potential rental return.

Priced at £170,000, the building comprises a spacious three-bedroom maisonette together with a newly converted and comprehensively refurbished studio apartment. Both properties are presented in a condition suitable for immediate rental marketing, making this a particularly attractive proposition for an investor looking to acquire an established two-unit building without the need for significant initial refurbishment.

The anticipated combined rental income is approximately £1,900 per calendar month, consisting of approximately £1,250 pcm for the three-bedroom maisonette and £650 pcm for the studio apartment.

This produces a potential annual gross rental income of approximately £22,800. Based on the £170,000 asking price, this equates to an impressive potential gross yield of approximately 13.4%

At this level, the property offers a particularly strong headline return while providing the additional benefit of two separate sources of rental income within one freehold building.

4A Newton Road – Three-bedroom maisonette

The larger of the two properties is a substantial three-bedroom maisonette extending to approximately 1,185 sq ft and arranged over two floors.

The property has its own private front and rear entrances together with a small courtyard garden, giving it a level of independence that should prove appealing within the rental market.

A private entrance opens into an entrance vestibule leading through to an impressive reception hallway. High ceilings and the proportions of the original building create a considerable feeling of space, while a large understairs cupboard provides useful storage.

From the hallway is a generous dining area with sufficient space for a full-size dining table. This leads through to the modern kitchen/breakfast room, fitted with a practical range of units and offering further space for a breakfast table.

The first floor is equally well proportioned, with a substantial landing connecting the principal rooms. There is a separate lounge providing a comfortable main living area together with three bedrooms, including two particularly generous double rooms and a versatile third bedroom.

The accommodation is completed by a modern fitted shower room.

The maisonette is presented in good order and benefits from gas central heating. Its combination of approximately 1,185 sq ft of accommodation, three bedrooms, separate lounge and dining areas and private outside space gives it particularly good credentials as a long-term rental property.

The anticipated rental income is approximately £1,250 per calendar month, equivalent to approximately £15,000 per annum

4 Newton Road – Studio apartment

The ground-floor studio has recently been converted and comprehensively refurbished, creating a smart and particularly spacious self-contained apartment.

The property benefits from independent front and rear entrances, giving it a greater degree of privacy than is commonly found with studio accommodation.

The main living and sleeping room is notably generous, with high ceilings adding to the feeling of space. The proportions allow distinct sleeping, seating and dining areas to be created, while the front windows incorporate frosted privacy glazing due to the road-facing position.

A newly fitted kitchen is arranged separately from the principal living space and provides a contemporary range of units, work surfaces and cooking facilities.

There is also a newly installed shower room, finished in a clean and neutral style with shower enclosure, wash basin and WC.

Further benefits include gas central heating and an EPC rating of C. Having already undergone comprehensive refurbishment, the apartment offers an investor the opportunity to introduce the property to the rental market without the substantial improvement costs frequently associated with investment purchases at this level.

The anticipated rental income is approximately £650 per calendar month, equivalent to approximately £7,800 per annum

Investment return

The combined projected rental figures are:

Three-bedroom maisonette: approximately £1,250 pcm / £15,000 per annum
Studio apartment: approximately £650 pcm / £7,800 per annum
Combined rental income: approximately £1,900 pcm / £22,800 per annum
Asking price: £170,000
Potential gross rental yield: approximately 13.4%

This represents a particularly strong potential return, especially considering that the investment comprises two separate dwellings and both properties are already presented to a standard suitable for rental marketing.

The gross yield calculation is based on anticipated rental income before allowing for management charges, maintenance, insurance, taxation, periods of vacancy or other ownership costs. Buyers should make their own enquiries regarding achievable rents and all current statutory requirements relating to letting the properties.

The maisonette benefits from its own small courtyard area together with a rear gate providing convenient access onto the adjoining side lane.

Although there is no allocated off-road parking with the building, Brunswick Square long-stay car park is conveniently located nearby. Torbay Council parking permits may provide a useful option for occupants wishing to keep a vehicle within convenient reach of the property, subject to availability, current charges and council terms.

Investor summary

For purchasers seeking rental return rather than significant refurbishment or development work, this is an unusually compelling proposition.

At £170,000, the opportunity combines a substantial three-bedroom maisonette with a recently converted studio apartment, providing two individual rental income streams under the ownership of the whole building.

With anticipated combined income of approximately £22,800 per annum and a potential 13.4% gross yield, the figures compare extremely favourably with many conventional single-property buy-to-let investments.

Both dwellings are ready to be marketed to tenants, giving a purchaser the potential to begin generating income quickly following completion, while retaining ownership of the complete freehold building.

Offered with no onward chain

Location

Newton Road occupies a convenient and well-connected position within Torquay, making the property particularly suitable for the rental market.

The location provides straightforward access to Torquay town centre and its broad selection of shops, supermarkets, restaurants, leisure facilities and everyday services. Torre itself provides additional local amenities, while the surrounding road network gives convenient access towards Newton Abbot, Exeter and the wider South Devon area.

Public transport connections are another advantage for prospective tenants, with regular bus services operating throughout Torquay and Torre railway station providing rail connections towards Newton Abbot, Exeter and further afield.

Torquay's seafront, harbour and leisure facilities are also within easy reach, while Torbay Hospital and the commercial areas around Newton Road and Hele provide significant local employment.

For an investor, the combination of accessible amenities, transport connections and proximity to major employment areas broadens the potential tenant market for both the larger maisonette and the studio apartment.