Summary - 47 FLAT 1 DARTMOUTH ROAD PAIGNTON TQ4 5AE
1 bed 1 bath Block of Apartments
Immediate rental income with short-term upgrade potential.
Freehold block of nine flats (6 x 1-bed, 3 x studios)
A freehold block of nine self-contained flats in central Paignton, producing a stated gross rental income of £52,560 per annum. The block comprises six one-bed apartments and three studios across basement to second floor, each with separate electricity meters and the landlord responsible for water and hot water. A small rear courtyard provides four off-street parking spaces (not allocated). Given the asking price of £550,000, the investment shows an approximate gross yield of about 9.6% (gross income divided by price).
The building is a period, Victorian-era brick property (c.1900–1929) with character features such as bay windows, high ceilings and a first-floor balcony. Construction notes indicate timber-frame walls with no installed insulation (assumed) and original double glazing fitted before 2002. Heating is via a community mains-gas scheme; these communal systems and older glazing may need upgrading over time, which is typical for buildings of this age.
Key risks for an investor are explicit: the property sits in an area of very high crime and very high deprivation, and it is in a medium flood-risk zone. Internal layouts and many kitchens are described as compact and dated in some units, so cyclical refurbishment or targeted upgrades may be required to sustain rental levels and reduce void risk. The block is fully let to a mix of longer-term tenants, which supports immediate income generation, but future rent growth may be constrained by local market factors.
Overall this is a compact, income-producing town-centre block offering immediate cashflow and value-add potential through selective investment in heating, insulation and interior updates. It is best suited to investors who accept a hands-on asset in a challenging local socio-economic area and who budget for medium-term maintenance and compliance works.
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