A recently refurbished Victorian House set up as a House in Multiple Occupation (HMO) Investment. The house has been remodelled to create a total of seven En-Suite Bedrooms, each independently wired to an electric card meter.
The property is Licensed as HMO by Torbay Council and complies with current Fire Safety and other standards. Operated as a small HMO, the current owners look to let six En-Suite Rooms, and charge a Rent of £110 per week, giving a Gross Potential Income (fully let) in excess of £34,000 per annum, with the Landlord being responsible for Council Tax, Insurance, heating and lighting of the common areas, and with the individual occupiers paying for electricity used for heat and light via independent card meters.
The property is well located and ideal for its current use, in a central area, close to Torquay town centre and other amenities. The recent refurbishment works have been extensively and subject to Building Regulations approval, and include new En-Suites for all rooms, refitting the Kitchen, rewiring and replumbing.
The property is ideal for those looking for a set up investment property with high income potential.