Summary - 58 THE AVENUE NEWTON ABBOT TQ12 2BY
4 bed 1 bath Terraced
**Standout Features:**
- Victorian terraced house with period character and architectural details
- Currently generating £28,584 annual rental income through managed charity tenants
- Freehold property with a decent-sized garden and gated parking
- Strong rental yield of 12.7%
- Close to local amenities and excellent transport links
**Key Considerations:**
- Requires substantial modernization and renovation
- Located in an area with high crime rates and economic deprivation
- Unlicensed as a House in Multiple Occupation (HMO) – buyers should inquire about local regulations
The Avenue is a promising investment opportunity for savvy investors seeking a property in the vibrant community of Newton Abbot. This charming Victorian terraced house, featuring original brickwork and arched windows, currently accommodates three tenants under a charity's management, offering peace of mind through 24/7 support for tenant placement and maintenance. With a solid projected rental income and a remarkable 12.7% yield, this property presents a lucrative choice.
The interior comprises four bedrooms and two bathrooms, ideal for shared living. While it boasts a spacious layout and a desirable garden, the property does require significant modernization. With nearby schools rated 'Good' by Ofsted and local amenities just a short walk away, this location ensures high tenant demand. However, prospective buyers should remain mindful of the need for compliance with HMO licensing regulations amidst the backdrop of local crime and economic challenges. This opportunity won't last long; act now to secure your foothold in this growing rental market!
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