A Turnkey Five Apartment Investment Opportunity

A Turnkey Five-Apartment Investment Opportunity – Nothing Left to Chance
A truly unique opportunity to acquire an exceptional apartment complex, comprising 5 x well-maintained apartments, all benefiting from full residential use. Presented to an impressive standard throughout, the property also benefits from paved parking for approximately 6 – 7 vehicles. This impressive property offers an ideal acquisition for investors seeking a strong, established income-producing asset with further growth potential or simply a home with income. Each apartment has separately metered services and could be sold individually if desired. The property has been converted in full compliance with building regulations and is situated within an affluent, leafy, and highly desirable area of the ever-popular coastal town of Paignton, Devon.
 

Ideally located within a sought-after residential area, the property is conveniently positioned for Paignton town centre, Devon with its wide range of shops, amenities, and excellent transport links via rail and bus/coach services. Paignton Beach, the seafront, and local parks are all within close proximity.

The property is owner-operated and has been meticulously maintained, with particular attention paid to décor and overall presentation, resulting in an exceptionally high standard throughout. All apartments, including the owner’s accommodation, can generate a gross annual income in excess of £42,000. The premises are fully compliant with current regulations, with no expense spared in ensuring the property is maintained to a high standard. The agents believe that several of the apartments are currently under-rented, offering excellent potential to further increase the already attractive income. All rents are fully up to date, and detailed income figures will be made available following a formal viewing.

Accommodation Comprises (In Brief)

All apartments benefit from a kitchen, lounge/dining area, bedroom accommodation, and either an en-suite or separate shower/bathroom with WC and wash hand basin. The two ground-floor apartments each benefit from independent gas, electricity, and water supplies. The upper-floor apartments each have separate electricity and water supplies, with heating provided via wall-mounted electric panels.

Owner’s Accommodation

A spacious ground-floor garden apartment featuring a double bedroom, together with a large, well-appointed kitchen and dining room. A generously sized conservatory leads from the dining area and, in turn, opens onto a mature walled garden with both shared and private side access. A further door from the dining area provides access to a dry storage cellar. (This is currently occupied by the owner)

Flat E

A ground-floor double-bedroom apartment benefiting from a kitchen, lounge, and dining area, together with a bathroom comprising a bath with shower over, WC, and wash hand basin.

Flat D

A first-floor double-bedroom apartment with en-suite facilities, situated to the front of the property. The apartment benefits from an open-plan kitchen, dining, and lounge area, all presented to a high decorative standard.

Flat B

A first-floor single-bedroom apartment with en-suite facilities, located to the rear of the property. The apartment also benefits from a kitchen/dining/lounge area and is presented to an excellent decorative standard.

Flat C

A second-floor double-bedroom apartment benefiting from a well-appointed kitchen, lounge, and separate shower room with low-level WC, wash hand basin, and fully enclosed shower

Storeroom

Approximately 10’ x 7’, situated on the second floor.

A useful loft storeroom available for use for landlord only.

Laundry Room

Located on the first floor and equipped with a washing machine, tumble dryer, and cleaning equipment, including a vacuum cleaner.

Outside

The property is approached via a paved and immaculately presented, walled parking area providing space for approximately six to seven vehicles.

The two ground-floor apartments benefit from their own separate entrances, whilst the first and second-floor apartments are accessed via a communal stairway.

Council Tax

All apartments are assessed within Council Tax Band ‘A’.

All tenants are responsible for payment of their own council tax.

Services

All mains’ services, including electricity, gas, water, and drainage, are connected and separately metered where applicable. Please note that no testing of these services has been undertaken by the agents, Ware Commercial.

Tenure

Freehold

Viewings

All viewings and enquiries are strictly through the agents: Ware Commercial
Telephone: 01803 328880 or 01392 462266
Email: [email protected]