Studio flat for sale

Freehold Block of 9 Self-Contained Flats (6 x One Beds & 3 x Studios). Fully Let Residential Investment Producing £52,560pax Gross Rental Income.

Beverley Flats is prominently situated on Dartmouth Road, a main arterial route leading into Paignton town centre. The property is ideally positioned within walking distance of Paignton railway and bus stations, the town centre and Paignton seafront.The location provides excellent access for both local residents and commuters, making the flats consistently attractive to tenants. With amenities, leisure facilities, and transport links all close at hand, this property represents a secure and reliable residential investment opportunity in a high-demand rental area. The property comprises a semi-detached, four-storey block arranged as nine self-contained residential flats. The accommodation is a mixture of smart one-bedroom apartments and practical studio units, offering affordable rental accommodation in this well-connected location. The flats are spread across basement, ground, first and second floors. Each unit has its own electricity meter, with the landlord responsible for water and hot water costs. To the rear is a parking area for four vehicles. The property is fully let to a good tenant profile, with several long-term occupiers, producing a gross annual rental income of £52,560.

LOWER GROUND FLOOR

FLAT 9 (1-BED)

LOUNGE/KITCHEN - 16' 7'' x 11' 10'' (5.05m x 3.61m)

BEDROOM - 15' 10'' x 8' 6'' (4.82m x 2.60m)

BATHROOM - 6' 4'' x 5' 1'' (1.94m x 1.55m)

FLAT 10 (1-BED)

LOUNGE/KITCHEN - 16' 10'' x 12' 6'' (5.13m x 3.80m)

BEDROOM - 10' 6'' x 12' 9'' (3.20m x 3.88m)

BATHROOM - 4' 8'' x 4' 4'' (1.43m x 1.33m)

GROUND FLOOR

FLAT 7 (1-BED)

LOUNGE/KITCHEN - 14' 8'' x 13' 0'' (4.46m x 3.96m)

BEDROOM - 15' 4'' x 11' 3'' (4.68m x 3.44m)

BATHROOM - 4' 0'' x 6' 1'' (1.21m x 1.86m)

FLAT 8 (STUDIO)

LOUNGE/BEDROOM - 13' 5'' x 13' 3'' (4.08m x 4.04m)

KITCHEN

BATHROOM - 4' 7'' x 4' 7'' (1.40m x 1.40m)

FLAT 6 (STUDIO) - Gross Internal Measurement: 18' 10'' x 14' 6'' (5.74m x 4.43m)

FIRST FLOOR

FLAT 5 (STUDIO)

BEDROOM/KITCHEN - 8' 4'' x 16' 2'' (2.53m x 4.92m)

BATHROOM - 2' 7'' x 5' 11'' (0.80m x 1.80m)

FLAT 2 (1-BED)

LOUNGE/KITCHEN - 14' 8'' x 13' 0'' (4.46m x 3.96m)

BEDROOM - 15' 4'' x 11' 3'' (4.68m x 3.44m)

BATHROOM - 6' 1'' x 4' 0'' (1.86m x 1.21m)

FLAT 4 (STUDIO)

LOUNGE/BEDROOM - 13' 5'' x 14' 3'' (4.10m x 4.35m)

KITCHEN - 6' 8'' x 4' 8'' (2.04m x 1.42m)

BATHROOM

SECOND FLOOR

FLAT 1 (1-BED)

LOUNGE/KITCHEN - 11' 6'' x 10' 9'' (3.50m x 3.28m)

BEDROOM - 12' 6'' x 8' 1'' (3.82m x 2.47m)

SHOWER ROOM WITH SEPARATE WC - 5' 8'' x 2' 4'' (1.73m x 0.71m)

TENURE
The property is offered for sale freehold, subject to the existing residential tenancies.

UTILITIES
Each flat has its own electric sub meter, and tenants are responsible for the own usage. Gas central heating and water is supplied by the landlord.

SALE PRICE
£550,000 Freehold.

RENT SCHEDULE
Current Passing Rents (Fully Let - £52,560 p.a.)Flat 1 - £540 pcmFlat 2 - £500 pcmFlat 4 - £460 pcmFlat 5 - £385 pcmFlat 6 - £460 pcmFlat 7 - £500 pcmFlat 8 - £460 pcmFlat 9 - £575 pcmFlat 10 - £500 pcm

EPC
Flat 1, 4, 8 & 9 - D.Flat 2, 5, 6, 7 & 10 - C.

COUNCIL TAX
All flats are individually rated for Council Tax - Band A.

LEGAL COSTS
Each party to bear their own legal costs incurred in the transaction.

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

Council Tax Band: A
Tenure: Freehold