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King Street, South Molton £180,000

  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street
  • King Street

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  • AUCTION
  • Potential Income of £14,760 per annum
  • RTI of 8.2%
  • 3 Occupied Flats ( Studio, 1 bed & 2 bed)
  • Communal Garden
  • Conveniently located close to town centre
  • Fire Regulations Approved

Auction Date 28th November. Excellent 8.2% ROI, INVESTMENT property, 3 flats, fully occupied, within the centre of South Molton with fantastic travel links to Barnstaple and the North Devon Link Road.

Description
https://www.pattinson.co.uk/property?id=408549

An opportunity to acquire the freehold of this residential investment comprising of 3 flats . (1 x Bedsit, 1 x 1 Bedroom Flat and 1 x 2 Bedroom Flat) set back from the main shopping street in the popular town of South Molton with a current income of £14,760 per annum offering 8.2% return of investment.

Flat 2 (First Floor 2 Bedroom Flat)
Currently rented out at £450 per calendar month (£5,400 per annum)
The 2 bedroom Flat is accessed from the ground floor. Stairs lead up to the hall of the flat on the first floor. The flat has a modern kitchen and bathroom and has been recently decorated throughout. The flat is heated by ceramic electric heaters and the electric hot water heaters.

Flat 3 (Ground Floor 1 Bedroom Flat)
Currently rented out at £430 per calendar month (£5160 per annum) A one bedroom ground floor flat comprising of a galley style kitchen, living room, bedroom and shower room. The flat is heated by ceramic electric heaters and the electric hot water heaters.

Flat 4 (Ground Floor Bedsit) 
Currently rented out at £350 per calendar month (£4200 per annum) Front door leads into a living area with an open plan modern fitted kitchen to the side of the living area. The shower room is situated through a door to the back of the living area. The shower room has a modern 3 piece shower suite. The flat is heated by ceramic electric heaters and the electric hot water heaters.

Shared Garden:
There is a garden area to the rear of the properties of which are shared by the 3 flats. There is also possibility to extend the property if suitable planning permission were granted.

NOTE: Photos are of the flats before tenants moved in.

Auctioneers Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.

Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures.

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.

Flat 2 Kitchen (13' 1'' x 9' 6'' (3.98m x 2.89m))
A modern fitted kitchen with a range of white base units. Stainless steel sink inserted into the grey laminate worktops. White tiled splash back boarder. Built in Extractor fan. Carpet tiled flooring. Double Glazing window to rear. Plumbing for washing machine.

Flat 2 Living Area (16' 9'' x 51' 1'' (5.10m x 15.56m))
A good sized living area neutrally decorated. Cream carpet. Electric panel wall mounted heater. Electric coal stone effect fireplace.

Flat 2, Bedroom 1 (16' 5'' x 11' 6'' (5.00m x 3.50m))
Double bedroom decorated neutrally. Cream carpets. Electric wall mounted radiator.

Flat 2, Bedroom 2 (6' 11'' x 6' 7'' (2.11m x 2.01m))
Decorated neutrally. Cream carpets. Wall mounted electric radiator.

Flat 3 Kitchen (12' 6'' x 5' 11'' (3.81m x 1.80m))
Recently refurbished modern fitted kitchen. A range of white wall and base units. Part white tiled splash backs. Stainless steel sink fitted into grey laminate worktops. Wood effect flooring.

Flat 3 Living Area (11' 2'' x 8' 10'' (3.40m x 2.69m))
Neutrally decorated. Wooden effect flooring. Wall mounted panel radiator.

Flat 3, Bedroom 1 (9' 2'' x 8' 10'' (2.79m x 2.69m))
Neutrally decorated, Cream carpets. Electric wall mounted radiator.

Flat 4 Living Area (13' 9'' x 13' 1'' (4.19m x 3.98m))
Entrance into the property. Part carpeted and part wooden affect flooring. Plumbing for washing machine.

Flat 4 Kitchen (8' 6'' x 6' 11'' (2.59m x 2.11m))
Modern fitted kitchen with white base units. Grey laminate effect worktops with part tiled white splash backs. Stainless steel sink. Wooden effect flooring.

Flat 4 Shower Room (9' 1'' x 5' 7'' (2.77m x 1.70m))
Modern Fitted Shower room

Communal Garden Area

Services
Council Tax Band - A
Electric Heating
Mains water and drainage

Measurements
All measurements are approximate. While we endeavour to make our particulars accurate and reliable, if there is any point which is of particular importance please contact us and we will be pleased to provide further information, particularly if you are travelling some distance to view.

Data Protection
Please note that all personal information provided by customers wishing to receive information and/or services from the estate agent will be processed by the estate agent and the "Property Sharing Experts" (Of which it is a member) for the purpose of providing services associated with the business of an estate agent but specifically excluding mailings or promotions by a third party. If you do not wish your personal information to be used for any of these purposes, please notify your estate agent.

Consumer Protection from Unfair Trading Regulation
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are not included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.


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EPC

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Floorplans (Click to Enlarge)

King Street
South Molton, Devon EX36 3BL
County: Devon
Sale Type: For Sale
Ref #: 30657460