Phoenix House is a well located Residential Investment Property arranged as 16 Self-Contained Residential Apartments which are let on Assured Shorthold Tenancies producing fully let Gross Income of £81,252 Per Annum.
The property comprises an elegant Victorian Villa, which has been skillfully converted into 12 self-contained flats, plus a purpose-built block at the rear of 4 self-contained flats. All of the flats have their own separate mains services and individual Council Tax banding. The property has been well maintained under its present ownership. in recent years, refurbishment has included the upgrading of the windows with double glazing, re-roofing works and re-wiring works. Internally, the flats have the benefit of modern fitted kitchens and well-appointed shower room suites.
The property is situated in a convenient residential location, less than a mile from Torquay town centre, with its range of shops and amenities, and closer to the local shopping and other facilities of Plainmoor. There is a nearby bus service to the town centre and St Marychurch.
The property is held as an investment, and the individual flats are let on Assured Shorthold Tenancy Agreements, with monthly rents ranging from £368 per month, to £550 per month. The monthly Rent Roll is currently £6,878.73, equating to £82,544.76 per annum when fully let. The property is ideal for those looking for a well-established, good quality Buy-to-Let Investment producing worthwhile incomes and returns. Viewing is recommended and can be arranged by appointment with the Agents.