Block of apartments for sale

Freehold Residential Investment Opportunity. Fully Let Producing £13,800 Per Annum (Potential to Increase).

The property is located on Melville Street, a popular residential street positioned just a short walk from Torquay’s town centre and Harbourside. This location is highly convenient for tenants, offering easy access to shops, restaurants, bars, the seafront and public transport links.

3, 4 & 5, Travis House represent an excellent opportunity to acquire a fully let, freehold residential investment. The property is arranged as three self-contained 1-bedroom units, with two flats and one house.

The freehold includes 3, 4 & 5, with Flats 1 & 2 Travis House being separately owned under long leasehold titles. The long leaseholders of Flats 1 & 2 contribute towards the building’s insurance and maintenance costs, helping to offset the landlord’s outgoings.

All three units are currently tenanted on Assured Shorthold Tenancies (ASTs). The building is free from gas supply with each flat having its own water and electricity connections.

TENURE
The property is offered for sale Freehold, subject to the existing Assured Shorthold Tenancies on each flat and the long leasehold interests on Flats 1 & 2.

RENT SCHEDULE
• Flat 3: £650 pcm.• Flat 4: £375 pcm. • Flat 5: £500 pcm. Current total confirmed income: £1,150 pcm.

SALE PRICE
An asking price of £200,000.

LEGAL COSTS
Each party will be responsible for their own legal costs incurred in the transaction.

COUNCIL TAX
All three flats are rated Council Tax Band A.

EPC RATINGS
Flat 3: Rating E.Flat 4: Awaited.Flat 5: Rating C.

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

Tenure: Freehold