Block of Apartments for Sale Norman Road, Paignton, TQ3 2BE

Key Features

Description

Occupying a prime and highly convenient position close to Paignton seafront and town centre, this well-presented investment property is arranged as a six-bedroom HMO, with all rooms currently let and producing an income of £3,300 per calendar month, representing an approximate yield of 11%.

The accommodation is thoughtfully arranged and offers generous communal space, with two reception rooms on the ground floor comprising a lounge and dining room. To the rear, there is a modern kitchen, complemented by an adjoining utility room, providing practical facilities for residents. In addition to the six letting rooms, the property also includes two studies, offering further flexibility within the existing layout.

Each bedroom benefits from its own en-suite facilities, while a communal shower room provides additional functionality. The property is presented to a very good standard throughout, making it a ready-made investment with established rental income from the outset.

There is also potential to enhance the existing return further, subject to any necessary consents and licensing requirements. This could be done by converting one of the reception rooms into an additional lettable unit or by reconfiguring the two studies to create further income-producing rooms.

Location is a key feature, with Paignton town centre, the harbour, Fairy Cove and Goodrington Sands all within walking distance. A wide range of shops, restaurants, leisure facilities, schools and the mainline railway station are also nearby, making this a superbly situated and attractive investment opportunity on the South Devon coast.

Tenure: Freehold

These particulars do not constitute any part of an offer or a contract. All statements contained in these particulars are made without responsibility on the part of Daniel Hobbin Estate Agents Limited. Where every attempt has been made to ensure the accuracy of the floorplan contained here, any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulations or other consents. Daniel Hobbin Estate Agents Limited have not tested any services, equipment or facilities. Any intending purchaser must satisfy himself/herself by inspection or otherwise as to the correctness of each of the statements contained in these particulars.