Summary - 3 HONESTONE STREET BIDEFORD EX39 2DL
1 bed 1 bath Terraced
**Standout Features:**
- Freehold investment property with multiple income streams
- Comprises 4 leasehold flats + 1 office/store
- Current gross yield of £2,740 per annum
- Potential for future rent increases with manageable ground rent structure
- Enclosed courtyard and easy access to local amenities
- Excellent mobile signal and fast broadband speeds
**Concerns:**
- Located in an area with high crime rates and significant deprivation
- General exterior wear on the property noted
Great opportunity for investors! This Freehold property features four leasehold flats, each on a 120-year lease, alongside a well-positioned office/store generating a steady income of £2,740 gross per year. With a manageable annual ground rent and potential for future increases, this could be a lucrative investment in an urban area with a range of amenities from schools to shops.
The enclosed courtyard provides a communal space for tenants, while the property’s convenient location, just a stone’s throw from local attractions and transport, adds to its appeal. While the area faces challenges like high crime and deprivation levels, the demand for rental properties remains strong in this town. Fast broadband and excellent mobile signal bolster its potential as a desirable rental option.
This investment property stands out for its potential, making it a must-see for savvy investors seeking growth in a constrained rental market!
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