Paignton, TQ4 5DB | Investment Property for Sale | VES-TQ4-001

Opportunity to purchase a HMO in Paignton generating £52,980 rent pa and 10.1% gross yield

£525,000

HMO Detached House

VES-TQ4-001

INITIAL INVESTMENT

£150,750

Based on

deposit: £131,250

stamp duty: £17,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£52,980

GROSS YIELD

10.1%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

9 bedrooms

8 bathrooms

1 reception room

2,045

Fully Furnished

Property information

  • HMO licence for 9 people in 9 bedrooms
  • The property was recently fully refurbished
  • Spread over 3 floors
  • 7 bedrooms come with ensuite shower rooms
  • the other tenants share 1 bathroom
  • 2 shared kitchens
  • 1 dining room
  • 1 lounge
  • Rear garden
  • The property is managed by a third party
  • EPC rating D

Rental information

  • Room 1 - £480 pcm
  • Room 2 - £480 pcm
  • Room 3 - £480 pcm
  • Room 4 - £485 pcm
  • Room 5 - £425 pcm
  • Room 6 - £480 pcm
  • Room 7 - £600 pcm
  • Room 8 - £500 pcm
  • Room 9 - £485 pcm
  • Total rent pcm: £4,415
  • Total rent pa: £52,980

Running costs

The vendor provided us with the following running costs for this property:

  • Gas: £125 pcm
  • Electricity: £125 pcm
  • Council tax: £244 pcm
  • Water: £50 pcm
  • Wifi: £67 pcm
  • Cleaner: £220 pcm
  • Total cost pcm: £831
  • Total cost pa: £9,972

Location information

  • The property is located within the centre of Paignton
  • Paignton railway station is less than 5-minute's walk from the property
  • There are plenty of local amenities just on the doorstep and the beach is also a short walk away

Note

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Paignton, Devon

Paignton is a seaside town in Devon, South West England and lies around 25 miles north-east of Plymouth and 20 miles south of Exeter.

The A380 runs just to the west of Paignton connecting the area to the A38 and thus to the rest of the national road network.

Paignton railway station is located in the centre of town and is the terminus of the Riviera Line from Exeter, as well as the terminus for CrossCountry trains on the Paignton to Manchester Piccadilly line. Other Great Western Railway services go to Taunton, Bristol, Cardiff and London Paddington. The Dartmouth Steam Railway departs from the Queen’s Park Station which is adjacent to the main railway station.

There are plenty of opportunities for outdoor activities in Paignton and the beach offers a great variety, such as kayaking, water skiing, wakeboarding, coasteering, scuba diving and of course swimming. A number of boat trips and cruises are also available. Apart from the beach a visit to Paignton Pier with its amusement arcade, rides and crazy golf is a must-do. Other activities include a visit to Paignton Zoo, nearby Occombe Farm, Torbay Velopark, Paignton Geoplay Park, the Greenway Estate or Cockington Court.

Paignton town centre offers a variety of shops including known-brands and independent retailers. There is also a wide choice of restaurants, including some award-winners, bars and cafes, a number of which have sea views.

The local economy relies heavily on tourism and many jobs are connected to tourist attractions, retail and hospitality. There are some smaller industrial estates and superstores on the outskirts of Paignton.

Dendy Road,

Paignton,

Torbay,

England,

TQ4 5DB

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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