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01803 525100

Morgan Avenue, Torquay
Offers in excess of £350,000, 8 bedrooms, terrace

SSTC

Key features

  • Investment property
  • 7 self contained flats
  • Over £39,000pa
  • Energy Rating : D
  • Yield of 11%
  • Parking for 8 cars
  • Garden
  • Gas Central Heating

Property Description

INVESTMENT NEW TO MARKET: Call to view this investment property of seven flats with off street parking. Property is currently earning an annual income of £39,078 with potential to increase.

Large end terraced four storey investement property made into six flats and one bedsit. There is off street parking for 8 cars.

Yearly income of £39,078 with potential to increase.

Close to Torquay Town Centre, shops and bus routes

All flats and have fridge/freezer, gas cooker included. Tenants supply own washing machine.
There is gas central heating. Electric is paid by the tenants. Water and gas is paid by Landlord. Water is £147 pcm, gas is £105 pcm. The Boiler is three and half years old.

Flat 6: Basement: Large Lounge/Dining Room, 3 x Double Bedrooms one with En-suite, Family Bathroom. Double Glazing. Store Cupboard and Patio Garden. Earning £650 - 4 weekly.

Ground Floor: Flat 4 and 5

Flat 4: Lounge/Dining Room/Kitchen, Double Bedroom with build in wardrobe. Bathroom with shower. Double Glazing. Tenanted earning £420 - 4 weekly

Flat 5: Lounge/Dining Room/Kitchen, Double Bedroom, Bathroom with shower. Hallway. Double glazing. Tenanted earning £420 - 4 weekly

First Floor: 2 & 3 & 7

Flat 2: Second Floor: Lounge, Kitchen/Dining Room, Double Bedroom with dressing room or small bedroom. Bathroom with shower. Double glazing. Hallway. Tenanted earning £440 - 4 weekly

Flat 3: Flat 5, Lounge/Dining Room, Kitchen, Double Bedroom, Bathroom with shower Hallway. Double glazing. Tenanted earning £440 - 4 weekly

Flat 7: Bedsit, Single Bedroom, Lounge, Kitchen, Bathroom with bath.
Tenanted earning £216 - 4 weekly

Second Floor

Flat 1:
Kitchen, Lounge, Bedroom and Bathroom - Tenanted earing £420.00 - 4 weekly

Outside:
Rear of property: Car park with 8 parking spaces.
14'x10' Storeage shed and 3 Small Store Cupboards.

Income from rents currently: £39,078. Water and gas is paid by Landlord.

Flat 6: Could be split into 2 separate units with planning permission increasing rental income.

"Fantastic customer service. We have recently rented a property through Ridgewater Lettings the whole process went through very smoothly and quickly due to the staff being very efficient. Thank you for all your help we are really happy in our home"
Laura C.