Studio flat for sale

20 Unit Fully Licensed HMO - Arranged as Two Semi-Detached Buildings. Gross Rental Income of £121,020 Per Annum.

Situated on Morgan Avenue, just a short walk from Torquay town centre, seafront, and local amenities. The property benefits from easy access to public transport links, with Torquay Train Station and main bus routes close by. A substantial investment property comprising two adjoining buildings, each arranged over four floors. Fully licensed for 30 occupants (and currently occupied by 24), the accommodation includes 12 studio units, 4 x 1 bed units and 4 self-contained flats. All units have their own kitchen facilities, with the 12 studios and 4 x 1 bed units sharing WCs and showers on the ground and first floors. The property is presented in good condition and has been established as a HMO for many years. The current owner has upgraded certain areas including the gas central heating, fuse boards and flat roofs, and has installed a solar panel system. The current configuration delivers an excellent return, with gross rental income of £121,020 per annum. The property offers immediate income potential alongside significant scope for capital appreciation through further improvements.

19 MORGAN AVENUE

LOWER GROUND FLOOR
Boiler Room & Landlord's Storage.

FLAT 20
Accessed via the rear of the property, with its own front door and courtyard garden.

LIVING ROOM - 9' 7'' x 16' 5'' (2.92m x 5.00m)

KITCHEN - 11' 5'' x 13' 6'' (3.48m x 4.11m) (max)

BEDROOM - 11' 2'' x 15' 2'' (3.40m x 4.62m)

BATHROOM

GROUND FLOOR

STUDIOS 11-14
With fitted kitchens.

WC/SHOWER ROOM

LAUNDRY ROOM

FIRST FLOOR

STUDIOS 15-18
With fitted kitchens.

WC

SHOWER ROOM

SECOND FLOOR

FLAT 19

LIVING ROOM - 13' 7'' x 23' 7'' (4.14m x 7.19m)

KITCHEN/DINING - 13' 1'' x 11' 1'' (3.99m x 3.38m)

BEDROOM - 7' 8'' x 15' 3'' (2.34m x 4.65m)

BATHROOM

21 MORGAN AVENUE

LOWER GROUND FLOOR

FLAT 10

LIVING ROOM - 12' 4'' x 16' 5'' (3.76m x 5.00m)

KITCHEN - 12' 2'' x 9' 0'' (3.72m x 2.75m) (max)

BEDROOM - 7' 3'' x 17' 5'' (2.20m x 5.31m)

BATHROOM

GROUND FLOOR

STUDIOS 1-4
With fitted kitchens.

WC/SHOWER ROOM

LAUNDRY ROOM

FIRST FLOOR

STUDIOS 5-8
With fitted kitchens.

WC & SHOWER ROOM

SECOND FLOOR

FLAT 9

LIVING ROOM - 13' 7'' x 12' 0'' (4.14m x 3.65m)

KITCHEN/DINING ROOM - 13' 1'' x 11' 1'' (3.99m x 3.38m)

BEDROOM

BEDROOM

BATHROOM

TENURE
Freehold, subject to the residential ASTs.

UTILITIES
The landlord pays for the gas, water and electricity. Electricity gets charged back to the tenants through sub meters, which the landlord reads and charges the tenants accordingly for.The landlord averages an additional £2,100 per annum from the solar panels and £3,600 from the laundry coin meters.

EPC RATINGS
19 Morgan Avenue - D.Flat 19, 19 Morgan Avenue - D. Flat 20, 19 Morgan Avenue - C. 21 Morgan Avenue - D. Flat 9, 21 Morgan Avenue - C. Flat 10, 21 Morgan Avenue - C.

COUNCIL TAX
19 Morgan Avenue - C.Flat 19, 19 Morgan Avenue - B.Flat 20, 19 Morgan Avenue - A. 21 Morgan Avenue - C. Flat 9, 21 Morgan Avenue - B. Flat 10, 21 Morgan Avenue - A.The landlord pays the council tax rates for 19 and 21 Morgan Avenue, and the individual flat tenants pay their own council tax.

LEGAL COSTS
Each party to bear their own legal costs.

RENT SCHEDULE
Current Gross Rental Income: £121,020 Per Annum. Flat Rent PCM1 - £450.2 - £450.3 - £400.4 - £475.5 - £400.6 - £450.7 - £450.8 - £550.9 - £750.10 - £740.11 - £450.12 - £450.13 - £400.14 - £475.15 - £400.16 - £450.17 - £450.18 - £535.19 - £630.20 - £730.

VIEWING
Viewing is highly recommended and can be arranged by prior appointment with the Agents, Bettesworths.

Council Tax Band: A
Tenure: Freehold