£265,000
Property for saleNew Street, Paignton TQ3
Just added
Freehold
About this property
Freehold Residential Investment For Sale
Six Letting Units with Established Occupancy History
Producing £30,356.04 Per Annum (When Fully Let)
Recently Decorated External Elevations and Well-Managed Investment
Rear Parking Space Included
Freehold Residential Investment For Sale. Six Letting Units with Established Occupancy History.
Situated within the heart of Paignton, 5 New Street occupies a convenient town centre location within walking distance of shops, supermarkets, public transport links, the railway station and seafront.
The property benefits from easy access to local employment opportunities and amenities, making it particularly attractive to tenants seeking affordable and conveniently located accommodation.
An excellent opportunity to acquire a freehold residential investment property comprising six letting units with a current gross rental income of £30,356.04 per annum (when fully let).
The accommodation is arranged as a mixture of 2x self-contained flats and 4x studio-style units with shared bathroom facilities.
Flat 1
One-bedroom self-contained flat comprising bedroom, kitchen/lounge and private shower room/WC.
Flat 2
Studio room with access to shared shower and WC facilities.
Flat 3
One-bedroom unit comprising bedroom and kitchen/lounge area with shared shower and WC facilities.
Flat 4
Studio room with shared shower and WC facilities.
Currently vacant following the relocation of the tenant to Flat 6.
Flat 5
One-bedroom flat with additional small room, kitchen/lounge and private shower room/WC.
Flat 6
Studio room with shared shower and WC facilities.
Tenure
Freehold, subject to the existing residential occupancies.
Rent Schedule
Flat 1 - 1 Bedroom Self-Contained Flat.
Flat 2 - Studio with Shared Facilities.
Flat 3 - 1 Bedroom Unit with Shared Facilities.
Flat 4 - Studio with Shared Facilities - Vacant.
Flat 5 - 1 Bedroom Flat with Additional Room.
Flat 6 - Studio with Shared Facilities.
Gross Rental Income: £30,356.04 per annum (when fully let).
Asking Price
£265,000 Freehold.
EPC Rating
The property has the following EPC ratings:
Flat 1 – D. Flat 2 – C. Flat 3 – C. Flat 4 – D. Flat 5 – D. Flat 6 – D.
Copies of EPC certificates are available upon request.
Council Tax
The landlord currently pays council tax on four of the units at approximately £1,560 per annum. Flat 1 and Flat 5 are separately assessed and are the responsibility of the occupiers.
Utilities
The building is connected to mains electricity, water and drainage, with no gas supply connected.
Heating is provided by a combination of night storage heaters and electric panel heaters.
Tenants have individual electricity meters connected directly to their supplier and manage their own accounts through a mobile application. The Landlord pays the water.
Viewing
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
Situated within the heart of Paignton, 5 New Street occupies a convenient town centre location within walking distance of shops, supermarkets, public transport links, the railway station and seafront.
The property benefits from easy access to local employment opportunities and amenities, making it particularly attractive to tenants seeking affordable and conveniently located accommodation.
An excellent opportunity to acquire a freehold residential investment property comprising six letting units with a current gross rental income of £30,356.04 per annum (when fully let).
The accommodation is arranged as a mixture of 2x self-contained flats and 4x studio-style units with shared bathroom facilities.
Flat 1
One-bedroom self-contained flat comprising bedroom, kitchen/lounge and private shower room/WC.
Flat 2
Studio room with access to shared shower and WC facilities.
Flat 3
One-bedroom unit comprising bedroom and kitchen/lounge area with shared shower and WC facilities.
Flat 4
Studio room with shared shower and WC facilities.
Currently vacant following the relocation of the tenant to Flat 6.
Flat 5
One-bedroom flat with additional small room, kitchen/lounge and private shower room/WC.
Flat 6
Studio room with shared shower and WC facilities.
Tenure
Freehold, subject to the existing residential occupancies.
Rent Schedule
Flat 1 - 1 Bedroom Self-Contained Flat.
Flat 2 - Studio with Shared Facilities.
Flat 3 - 1 Bedroom Unit with Shared Facilities.
Flat 4 - Studio with Shared Facilities - Vacant.
Flat 5 - 1 Bedroom Flat with Additional Room.
Flat 6 - Studio with Shared Facilities.
Gross Rental Income: £30,356.04 per annum (when fully let).
Asking Price
£265,000 Freehold.
EPC Rating
The property has the following EPC ratings:
Flat 1 – D. Flat 2 – C. Flat 3 – C. Flat 4 – D. Flat 5 – D. Flat 6 – D.
Copies of EPC certificates are available upon request.
Council Tax
The landlord currently pays council tax on four of the units at approximately £1,560 per annum. Flat 1 and Flat 5 are separately assessed and are the responsibility of the occupiers.
Utilities
The building is connected to mains electricity, water and drainage, with no gas supply connected.
Heating is provided by a combination of night storage heaters and electric panel heaters.
Tenants have individual electricity meters connected directly to their supplier and manage their own accounts through a mobile application. The Landlord pays the water.
Viewing
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.
Mortgage calculator
Monthly repayment
£1,325 per month
Whole of market comparison
70+ lenders and 10,000+ products
How much could I borrow
In partnership with
The monthly repayments provided are estimates and should be used as a guide only. The actual amount you can borrow will depend on your personal financial situation and subject to a full application. For a more precise estimate, please use the Mojo mortgage calculator. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
.png){kind=logo}