A bright, spacious, substantial semi detached house properly extended and converted into three separate units but producing four rental incomes, arranged over just two floors and all let and producing £32,040 per annum. Located only a short walk from either St Marychurch or Plainmoor in this sought after residential location, this property offers any buyer an immediate rental investment offering a gross yield of circa 6.89%. Further value of this property can be found in the four properties individual values as if any purchaser would like to then separate the units onto individual titles, an anticipated return after all four properties were sold on the open market would be circa £550,000. In addition to the building itself, there is a parcel of land at the rear of the property that may be suitable for development into one dwelling subject to planning permission. An ideal rental investment or perhaps home with income opportunity.
THE ACCOMMODATION WITH APPROXIMATE MEASUREMENTS:
Main House - Let and producing £1150 pcm.
White UPVC double glazed entrance doors into:
LARGE CONSERVATORY ENTRANCE
Deep understairs storage cupboard, doors to lounge, kitchen/diner and cloakroom.
178 x 133 Large bay with white UPVC double glazed window, feature fireplace with decorative surround, plinth and wooden mantelpiece, period features, radiator, TV aerial point, large bright room.
137 x 130 Range of modern wall and floor units, black granite effect work surfaces, stainless steel sink unit with mixer taps, built in electric oven and grill combination, electric hob, extractor hood over, space for American style fridge/freezer, space for washing machine, centre island unit with breakfast bar, wall mounted combination boiler, radiator, sash windows, ample power points.
Suite comprising low level WC and vanity wash hand basin with cupboards below.
FIRST FLOOR LANDING
153 x 134 Large bay with white UPVC double glazed window, period features with cast iron fireplace, radiator, TV aerial point, power points, large bright room.
130 x 81 White part UPVC double glazed window, cast iron fireplace, radiator, TV aerial point, power points
129 x 128 White UPVC double glazed window, cast iron fireplace, radiator, power points.
96 x 82 White UPVC double glazed window, radiator, power points.
Modern white suite comprising corner panelled bath with electric shower over, shower screen, pedestal wash hand basin, low level WC, fully cladded walls, radiator, white UPVC double glazed window in obscure glass.
Ground Floor Flat - Let and producing £670 pcm.
Comprising entrance lobby, good size lounge, modern kitchen with oven & hob, two double sized bedrooms and bath/WC. The property has been recently redecorated.
Ground Floor Annexe Flat - Let and producing £400 pcm.
Comprising entrance lobby, open plan studio room, separate kitchen with appliances and separate shower room/WC.
First Floor Studio Flat - Let and producing £450 pcm.
Comprising ground floor entrance, staircase rising to first floor, open plan studio room with kitchen at one end and then a separate shower room/WC.
DRIVEWAY & PARKING
Long driveway leading to initial front parking area for main house, then side drive leading to parking for the three further units.
At the rear of the property at the end of the driveway is a large plot of land with the potential to build a further detached dwelling subject to planning permission.
Agents Note: This residential investment opportunity is currently fully let and producing £32,040 per annum on four separate assured shorthold tenancies and Haarer & Motts are the managing agents for the building. Any interested purchaser could continue to run this as an investment or perhaps a home with income opportunity. There is of course the prospect to sell off the four units separately at which point we would expect the total re-sale values to reach circa £525,000 to £550,000. These figures do not include the plot of land which would add further significant value if planning permission were gained for a further residential unit.
PRICE Offers Around £450,000 - Freehold