22 Mannamead Road
Mutley Plain
Plymouth
PL4 7AA
Bedford Park, North Hill, Plymouth
£350,000
5 Bedroom House - Terraced
- PRIME CENTRAL LOCATION
- INVESTMENT OPPORTUNITY
- POTENTIAL 10.5% RETURN
- FIVE SELF-CONTAINED FLATS
- DOUBLE GLAZING
- ELECTRIC HEATING
- VIEWING RECOMMENDED
- ENERGYRATING: BAND D
Five Self Contained Flats - Located within the heart of Plymouth, this substantial investment opportunity lies within proximity of the university and the city centre with its numerous shops, amenities and transport links. The property is arranged over three floors and comprises five flats of varying sizes, the majoirty of flats have an EPC rating of C, and the whole building offers a potential rental return of 10.4% based on the current asking price. Plymouth Homes advise an early viewing to fully appreciate the potential on offer within this substantial period home.
GROUND FLOOR
ENTRANCE
Entry is via a secure, communal entrance door opening into the communal vestibule and hallway.
COMMUNAL HALLWAY
With doors to flats 1 & 2 and stairs rising to the first-floor landing.
FLAT 1
Comprising hall, a large open plan living room incorporating the lounge, dining and kitchen areas, double bedroom, shower room and a small area of courtyard with artificial lawn.
FLAT 2
Comprising kitchen/dining room, open plan bedroom/living space, shower room and a small area of courtyard with artificial lawn.
FIRST FLOOR
COMMUNAL LANDING
With doors to flats 3 & 4.
FLAT 3
Studio/office space, comprising entrance hall, living room/bedroom area, wc, behind the entrance door is a recess which was previously used as a shower cubicle which is now behind the current MDF shelving storage and could be reinstated back to a shower. There is also access to a private roof garden.
FLAT 4
The largest of the four flats, with hall, a large open plan living room incorporating the lounge, kitchen and dining areas, bedroom, shower room.
SECOND FLOOR
COMMUNAL LANDING
With access to the roof terrace and flat 5.
FLAT 5
Comprising hall, open plan living room, bedroom, shower room.
ROOF TERRACE
4.06m x 3.16m (13'3" x 10'4")With partial views towards Plymouth Sound.
AGENT’S NOTE
The owner has indicated that the rents for each unit as are follows. Flats 1,2 and 5 achieved £650 PCM, flat 4 achieved £700 PCM and flat 3 £430 PCM. This would achieve a gross yield of £36,960 per year with a return of 10.5% based on the current asking price. Flats 1,2,3 and 4 are currently vacant and flat five is currently tenanted.
All the flats are Council Tax band A, and each has their own Energy Performance Certificate (EPC). The owner has also had planning permission granted conditionally for the amalgamation of flats 2 and 3 to create one ground/first floor maisonette (Class C3). Details can be seen on the council website using the reference 25/01240/FUL.
AGENT’S NOTE
These sales particulars are only in draft format and have yet to be approved by the seller. They are therefore subject to change.
Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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