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3 bedroom block of apartments for sale
Abbey, Torbay Road, Torquay TQ2
£350,000
Abbey, Torbay Road, Torquay TQ2
£350,000
Our Summary
- The property is earning an annual income of approximately £28,000 with potential to increase & offering a return of around 8%
- Approximate yearly income of around £28,000 with the potential to increase
Description
This investment property is a large, end-terraced four-storey building made up of three residential flats and one commercial premise, currently earning an annual income of around £28,000 with potential for increase. The property is located conveniently near shops on Abbey Road, leading to the town center and amenities. The residential flats are let to tenants at £450, £550, and £550 per month, respectively, and the commercial premise is currently let and operated as a restaurant, generating an additional income of £780 per month. The property offers off-street parking for up to 5-6 cars and has a large driveway with side access to the commercial premise. The tenure is freehold, and all figures quoted are exclusive of VAT.