The Old Town Hall in Paignton, Torbay, is a former municipal building from 1870 that has been converted into a residential property. The building consists of 3 studio flats and 6 two-bedroom flats, all let on Assured Shorthold Tenancies (ASTs), generating an annual income of £66,000. The property is believed to be undervalued, with potential to increase the income to £73,800 per annum. The flats have independent utilities, gas combi boilers, and double-glazed windows. The sale includes the freehold of the building, as well as two of the flats' 125-year leases for mortgage purposes. This is an excellent investment opportunity for those looking to capitalize on the growing demand for rental properties in the area.