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There is huge potential to create individual leases and sell off each flat separately after purchase; this really is a wonderful income opportunity neatly tied up into one very functional building.
The accommodation briefly comprises the main residence which is a four bedroom house, a two bedroom ground floor annex, a ground floor studio and a first floor studio. All of which are finished to a good standard and are currently let on assured shorthold tenancies.
RENTAL INCOME FIGURES AS FOLLOWS FOR THE BUILDING:
* Main House ?1250 per month, plus council tax and utility bills = ?15,000 pa rent
* Ground Floor Studio ?500 per month, plus share of council tax and bills = ?6,000 pa rent
* Garden Flat (2 bed) ?700 per month, plus council tax and bills = ?8,400 pa rent
* Upper Studio ?500 per month, plus council tax and utility bills = ?6,000 pa rent.
Rent totals pa at ?35,400 fully let.
The landlord currently pays the rental agents 8% FULL MANAGEMENT (this has recently increased from 5% but is still below the standard 10-12.5% known in the area).
The landlord pays the utility bills, tenants pay him a Direct Debit for a share of them. The landlord chooses not to make any profit from the utilities and all units are metered so can address any over or under amount paid to each income stream. No outstanding debts utility wise either.
Insurance is paid yearly at just over ?400 per year with a VERY comprehensive policy who the landlord would recommend to a buyer.
Viewing is essential to appreciate and take in the full potential of this property.
Main House accommodation:
UPVC double glazed front door into porch - uPVC double glazed windows to the side, partially glazed wooden door to hallway-
Hallway: A wealth of period features including decorative cornin and archways, laminate floor, understairs storage cupboard, stairs rising to the first floor and doors to:
Lounge: 5.43m x 4.08m (17.81ft x 13.39ft) uPVC double glazed bay window to the front, attractive period features including decorative cornice and feature fireplace with decorative back and hearth, timber surround and inset living flame gas fire, radiator, tv point.
Kitchen: 4.18m x 3.98m (13.71ft x 13.05ft) Range of fitted base units comprising cupboards and drawers under, work surface over, integrated electric oven and grill combination, fitted ceramic hob with stainless steel hood and splash back, space for double width fridge freezer, plumbing and space for washing machine and additional appliance space. Inset stainless steel sink and drainer with mixer tap. Wall mounted units, tiled splashback, central island with cupboards under and work surface over, wall mounted boiler, glazed sash windows to the side. Radiator. Interconnecting door to the Ground Floor studio.
Cloakroom: Close coupled WC, fitted vanity unit with cupboard beneath. First Floor landing:Half landing with fitted storage cupboards, dado rails, doors to:
Bedroom 3: 3.96 m x 3.93m (12.99ft x 12.89ft) uPVC double glazed window to the side, picture rail, attractive period feature fireplace with decorative wrought iron back and surround.
Bathroom: White suite comprising corner bath with electric shower over and shower screen, pedestal wash hand basin with contemporary fitted mirror and light, low level WC, fully tiled walls, uPVC double glazed window to the side.
Main landing:Hatch to loft with sky lights, power and ample storage at head height. This would make an ideal additional bedroom (under planning consent P/2013/1193 ). Radiator doors to:
Bedroom 1: 4.67m x 4.09 (15.32ft x 13.41ft) Beautiful light and airy room with uPVC double glazed bay window to the front, decorative ceiling rose and coving, picture rails, feature original fireplace with decorative detail, wrought iron surround, radiator, tv point.
Bedroom 2: 3.97m x 2.49m (13.02ft x 8.17ft) Partially double glazed window to the side, feature original fireplace with decorative tiles, wrought iron back and surround, tv point, radiator.
Bedroom 4: 2.94m x 2.52m (9.64ft x 8.26ft) uPVC double glazed window to the side, radiator.
Additional income accommodation
Ground floor annex - Open plan living & sleeping area. Kitchen with fitted appliances. Shower room.
Ground floor flat- Hallway, lounge, two bedrooms, kitchen and a shower room
First floor studio - Open plan living and sleeping area. Kitchen with fitted appliances, Shower room.
All are finished to a good standard and are maintained in a good order.
Outside - The property is approached via a stone chipped driveway providing off road parking for several vehicles. The stone chipped driveway leads to the rear where there is a patio and decked area with an ornamental pond and concealed hot tub. At the foot of the driveway there is a large plot of land which has the potential to create an additional residence (subject to the necessary planning consents) alternatively the land could be converted back into garden space for the main dwelling.
Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
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Full details for 8 Bedroom Semi-Detached For Sale in Torquay
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Description
An opportunity to purchase a substantial Semi-detached Victorian style property with many original features providing an excellent investment opportunity with further building potential to the rear.There is huge potential to create individual leases and sell off each flat separately after purchase; this really is a wonderful income opportunity neatly tied up into one very functional building.
The accommodation briefly comprises the main residence which is a four bedroom house, a two bedroom ground floor annex, a ground floor studio and a first floor studio. All of which are finished to a good standard and are currently let on assured shorthold tenancies.
RENTAL INCOME FIGURES AS FOLLOWS FOR THE BUILDING:
* Main House ?1250 per month, plus council tax and utility bills = ?15,000 pa rent
* Ground Floor Studio ?500 per month, plus share of council tax and bills = ?6,000 pa rent
* Garden Flat (2 bed) ?700 per month, plus council tax and bills = ?8,400 pa rent
* Upper Studio ?500 per month, plus council tax and utility bills = ?6,000 pa rent.
Rent totals pa at ?35,400 fully let.
The landlord currently pays the rental agents 8% FULL MANAGEMENT (this has recently increased from 5% but is still below the standard 10-12.5% known in the area).
The landlord pays the utility bills, tenants pay him a Direct Debit for a share of them. The landlord chooses not to make any profit from the utilities and all units are metered so can address any over or under amount paid to each income stream. No outstanding debts utility wise either.
Insurance is paid yearly at just over ?400 per year with a VERY comprehensive policy who the landlord would recommend to a buyer.
Viewing is essential to appreciate and take in the full potential of this property.
Main House accommodation:
UPVC double glazed front door into porch - uPVC double glazed windows to the side, partially glazed wooden door to hallway-
Hallway: A wealth of period features including decorative cornin and archways, laminate floor, understairs storage cupboard, stairs rising to the first floor and doors to:
Lounge: 5.43m x 4.08m (17.81ft x 13.39ft) uPVC double glazed bay window to the front, attractive period features including decorative cornice and feature fireplace with decorative back and hearth, timber surround and inset living flame gas fire, radiator, tv point.
Kitchen: 4.18m x 3.98m (13.71ft x 13.05ft) Range of fitted base units comprising cupboards and drawers under, work surface over, integrated electric oven and grill combination, fitted ceramic hob with stainless steel hood and splash back, space for double width fridge freezer, plumbing and space for washing machine and additional appliance space. Inset stainless steel sink and drainer with mixer tap. Wall mounted units, tiled splashback, central island with cupboards under and work surface over, wall mounted boiler, glazed sash windows to the side. Radiator. Interconnecting door to the Ground Floor studio.
Cloakroom: Close coupled WC, fitted vanity unit with cupboard beneath. First Floor landing:Half landing with fitted storage cupboards, dado rails, doors to:
Bedroom 3: 3.96 m x 3.93m (12.99ft x 12.89ft) uPVC double glazed window to the side, picture rail, attractive period feature fireplace with decorative wrought iron back and surround.
Bathroom: White suite comprising corner bath with electric shower over and shower screen, pedestal wash hand basin with contemporary fitted mirror and light, low level WC, fully tiled walls, uPVC double glazed window to the side.
Main landing:Hatch to loft with sky lights, power and ample storage at head height. This would make an ideal additional bedroom (under planning consent P/2013/1193 ). Radiator doors to:
Bedroom 1: 4.67m x 4.09 (15.32ft x 13.41ft) Beautiful light and airy room with uPVC double glazed bay window to the front, decorative ceiling rose and coving, picture rails, feature original fireplace with decorative detail, wrought iron surround, radiator, tv point.
Bedroom 2: 3.97m x 2.49m (13.02ft x 8.17ft) Partially double glazed window to the side, feature original fireplace with decorative tiles, wrought iron back and surround, tv point, radiator.
Bedroom 4: 2.94m x 2.52m (9.64ft x 8.26ft) uPVC double glazed window to the side, radiator.
Additional income accommodation
Ground floor annex - Open plan living & sleeping area. Kitchen with fitted appliances. Shower room.
Ground floor flat- Hallway, lounge, two bedrooms, kitchen and a shower room
First floor studio - Open plan living and sleeping area. Kitchen with fitted appliances, Shower room.
All are finished to a good standard and are maintained in a good order.
Outside - The property is approached via a stone chipped driveway providing off road parking for several vehicles. The stone chipped driveway leads to the rear where there is a patio and decked area with an ornamental pond and concealed hot tub. At the foot of the driveway there is a large plot of land which has the potential to create an additional residence (subject to the necessary planning consents) alternatively the land could be converted back into garden space for the main dwelling.
Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
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