>
5 bedroom detached house for sale
Polsham Park, Paignton
£590,000
Polsham Park, Paignton
£590,000
Our Summary
- An ideal home and income or investment purchase with potential to increase the yield
- Planning permission (now lapsed) was obtained in 2013 (P/2013/1274) for an extension to the rear to make two of the flats (29 and 29B) into 2 bedroom flats and make flat E bigger
Description
This substantial detached house is arranged as five self-contained apartments, currently let on assured shorthold tenancies, with the ground floor flat occupied by the owner and featuring a charming garden. The property offers parking for all apartments and is situated in a sought-after central location, close to Victoria Park and the town centre, with the seafront a similar distance away. Each apartment has a 999-year lease, separate meters for electricity and water, and individual council tax accounts, with some flats having their own gas boilers. The property has a strong rental income, with the total monthly rent being £3,240, equivalent to £38,880 per annum. The property also has potential for further development, with a lapsed planning permission from 2013 allowing for an extension to create larger apartments.