Investment Property for sale in Paignton
A fantastic opportunity to acquire 6 self-contained apartment complex with full formal residential status. Located in the all year busy seaside town of Paignton, Devon. This semi-detached property occupies a large corner plot together with a penthouse apartment on the second floor. With gardens to three sides and a large garage / workshop. Currently generating an impressive income but internal modernisation is required. This investment opportunity is not to be missed and early viewings are highly recommended.
This property is located on Marldon Road occupying an elevated position with lovely views over Paignton towards the sea. Conveniently located taking advantage of easy access on to all main arterial roads and only a short drive to the Cathedral city of Exeter with its International airport. Also benefits from regular passing bus service and only a stone through to the seafront, town centre and parade of shops nearby.
LOWER GROUND FLOOR
A self-contained studio apartment with kitchen area and bathroom with shower, low level WC and wash hand basin.
GROUND FLOOR FLAT 1
A self-contained one-bedroom apartment with kitchen, lounge, bathroom with shower, low level WC and wash hand basin.
GROUND FLOOR FLAT 2
A self-contained two-bedroom apartment with kitchen, dining room, lounge and bathroom with bath, low level WC and wash hand basin.
FIRST FLOOR FLAT 3
A self-contained one-bedroom apartment with kitchen, lounge and bathroom with shower, low level WC and wash hand basin.
FIRST FLOOR FLAT 4
A self-contained two-bedroom apartment with kitchen, lounge, and bathroom with shower, low level WC and wash hand basin.
A self-contained one bedroom open-planned penthouse with kitchen, lounge and bathroom and with a lovely balcony to front.
To three sides are gardens together with substantial driveway with hard standing and a larger garage store / workshop
This investment is owner operated and is inclusive of all utilities. With a gross income of approx. £43,000 per annum but we the agents feel there is tremendous possible uplift by a simply upgrading the apartments so that all the letting units are exclusive of all utilities in their rental. All apartments are on AST agreements and with rental deposits paid. Also, there is a very large garage with pitched roof which could either be let-out or to be developed in to further accommodation subject to the necessary planning permissions.
We are advised that the property benefits from the following: mains electricity, mains gas, mains water supply, none of these services have been tested by the agents Ware Commercial.
Please make your own enquiries on the local Valuation Office Agency on the Valuation Website (VOA) at www.voa.gov.uk.
All viewings and enquiries are to be made through the agents Ware Commercial.
Misrepresentation Act 1967. The Particulars are not considered a formal offer, they are for information only and give a general idea of the property. They are not to be taken as forming any part of a resulting contract nor be relied upon as statements or representations of fact. Whilst every care is taken in their preparation, no liability can be accepted for their accuracy. Intending purchasers must satisfy themselves by personal inspection or otherwise as to the correctness of these particulars.