8 Bed HMO, Torquay, TQ2 5LH, £425,000

8 Avenue Road, Torquay, Devon - 12 views - 5 months ago

HMO
ROI: 12%
59 m²
+27 photos

ValuationOvervalued

Sold Prices£140K - £715K
Sold Prices/m²£1.3K/m² - £4.9K/m²

 

 

Square Metres

59 m²
Price/m²£7.2K/m²

Value Estimate

£131,820

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£106,250

Stamp Duty & Legal Fees

£22,700

Total Cash In

£128,950

 

 

Cash Out

 

Room Rate

£559

Gross Rent

£4,472

Running Costs/mo

£3,145

Cashflow/mo

£1,327

Cashflow/yr

£15,927

ROI

12%

Gross Yield

13%

Local Sold Prices

50 sold prices from £140K to £715K, average is £290K. £1.3K/m² to £4.9K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£270K08/210.05 mi122, Avenue Road, Torquay, Torbay TQ2 5LQ4
£235K10/230.05 mi140, Avenue Road, Torquay, Torbay TQ2 5LQ4
£380K06/210.13 mi6, Barton Road, Torquay, Torbay TQ1 4DS4
£425K01/230.15 mi21, Crownhill Park, Torquay, Torbay TQ2 5LN4
£305K02/230.23 mi88, Avenue Road, Torquay, Torbay TQ2 5LF4
£490K04/230.28 miHigh View, Valley View Close, Torquay, Torbay TQ1 4DY4
£475K09/210.29 mi8, Bridge Road, Torquay, Torbay TQ2 5BA4
£252.5K03/210.29 mi29, Blindwylle Road, Torquay, Torbay TQ2 6AE4
£240K06/230.3 mi6, Fletcher Close, Torquay, Torbay TQ2 6DD4
£370K10/210.32 mi5, Parkhurst Road, Torquay, Torbay TQ1 4EW4
£205K07/210.33 mi39, St Efrides Road, Torquay, Torbay TQ2 5SG4
£227K11/220.34 mi117, Lymington Road, Torquay, Torbay TQ1 4BG4
£180K11/210.37 mi31, Tor Church Road, Torquay, Torbay TQ2 5UP4
£257.5K01/230.38 mi38, Upton Road, Torquay, Torbay TQ1 4AJ4
£170K07/210.39 mi151, Lymington Road, Torquay, Torbay TQ1 4BE4
£340.5K12/220.4 mi45, Lymington Road, Torquay, Torbay TQ1 4BG4
£249.5K11/210.41 mi30, Sherwell Lane, Torquay, Torbay TQ2 6BD4
£317.5K02/210.41 mi2, Sherwell Hill, Torquay, Torbay TQ2 6LT4
£140K12/200.42 mi25, Lower Thurlow Road, Torquay, Torbay TQ1 3EL4
£350K08/220.44 mi3, Thurlow Road, Torquay, Torbay TQ1 3DZ4
£440K02/230.46 mi4, Queensway Close, Torquay, Torbay TQ2 6DG4
£235K03/210.46 mi22, Marcombe Road, Torquay, Torbay TQ2 6LL4
£230K10/200.47 mi43, Sherwell Hill, Torquay, Torbay TQ2 6LX4
£400K08/210.48 miHarbour View, Ruckamore Road, Torquay, Torbay TQ2 6HF4
£437.5K01/230.48 miBickleigh, Ruckamore Road, Torquay, Torbay TQ2 6HF4
£271K12/230.49 mi33, Davis Avenue, Torquay, Torbay TQ2 6DU4
£275K08/230.49 mi86, The Reeves Road, Torquay, Torbay TQ2 6EG4
£505K03/230.51 miTrevessa, Ashfield Gardens, Torquay, Torbay TQ2 6HQ4
£320K07/230.51 mi48, Thurlow Road, Torquay, Torbay TQ1 3EG4
£250K06/230.51 mi64, Thurlow Road, Torquay, Torbay TQ1 3EG4
£195K05/210.53 mi12, Forest Road, Torquay, Torbay TQ1 4JR4
£220K01/230.53 mi22, Forest Road, Torquay, Torbay TQ1 4JR4
£270K06/210.53 mi13, Boundary Road, Torquay, Torbay TQ2 6LR4
£230K01/210.54 mi51, Forest Road, Torquay, Torbay TQ1 4JP4
£215K11/210.55 mi26, Wrights Lane, Torquay, Torbay TQ1 4HN4
£390K10/200.56 mi29, Shiphay Lane, Torquay, Torbay TQ2 7DU4
£375K05/210.58 mi38, Lloyd Avenue, Torquay, Torbay TQ2 7DH4
£317K11/200.6 mi15, Summerfield Road, Torquay, Torbay TQ2 7DL4
£342.5K02/210.6 mi43, Summerfield Road, Torquay, Torbay TQ2 7DL4
£315K03/210.62 mi63, Audley Avenue, Torquay, Torbay TQ2 7PD4
£450K08/210.62 mi19, Nut Bush Lane, Torquay, Torbay TQ2 6SA4
£545.5K02/230.62 mi14, Rathmore Road, Torquay, Torbay TQ2 6NY4
£180K06/210.63 mi9, Hill Park Road, Torquay, Torbay TQ1 4LD4
£180K06/210.63 mi9, Hill Park Road, Torquay, Torbay TQ1 4LD4
£440K01/230.63 mi34, Shiphay Park Road, Torquay, Torbay TQ2 7DJ4
£265K11/200.63 mi36, Shiphay Park Road, Torquay, Torbay TQ2 7DJ4
£375K11/210.64 mi36, Chatsworth Road, Torquay, Torbay TQ1 3BL4
£555K06/210.65 mi8, St Matthews Road, Torquay, Torbay TQ2 6JA4
£715K06/230.65 mi43, St Matthews Road, Torquay, Torbay TQ2 6JA4
£175K03/210.65 mi91, St Marychurch Road, Torquay, Torbay TQ1 3HG4

Local Area Statistics

Population in TQ2

34,088

Population in Torquay

65,319

Town centre distance

1.02 miles away

Nearest school

0.30 miles away

Nearest train station

0.11 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+30%

Sales demand

Buyer's market

Capital growth (5yrs)

+28%

Property History

Listed for £425,000

November 20, 2024

Floor Plans

Description

  • Bay Windows +
  • Close to local amenities and main bus routes +
  • Driveway Parking +
  • Enclosed Rear Garden +
  • Entrance Foyer & Large Landing +
  • ideal for multi-generational living +
  • 6 bedrooms with 6 en-suites +
  • Two ground floor bedrooms +

The property boasts a substantial living space with eight double bedrooms and seven bathrooms. The ground floor accommodates a spacious dining room, a cosy living room, a well-lit kitchen equipped with a kitchen island, two comfortable bedrooms and a bathroom. Ascend to the first floor to find five ensuite bedrooms featuring built-in wardrobes, along with utility and storage facilities. The second floor is home to a large ensuite bedroom with ample storage space.

Notable features of this property include off-road parking and an enclosed garden. The reception rooms are filled with natural light, courtesy of large windows. The kitchen is bright and inviting, perfect for family gatherings or casual dining. Six of the bedrooms have ensuite bathrooms, and the majority of the bedrooms provide built-in wardrobes for additional convenience. The eighth bedroom offers direct access to the garden, a unique feature that adds to the appeal of this property.

This property presents an excellent investment opportunity and would be ideal for families or multigenerational living. The potential for HMO provides additional appeal for investors. This is a distinctive chance to own a piece of the thriving local hospitality industry, or to create a large and welcoming family home.

Tenure: Freehold

Agent Details

Pegg Estates, Torquay

01803 221975

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪