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See how verdicts work1-bedroom flat · TR18 4NE
For saleListed 83 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
A rare opportunity to purchase this successful investment property, which is situated close to Penzance town and the seafront and is divided into seven self contained flats, giving a substantial income.
The property is arranged over three floors with courtyard to the rear and is situated in a prominent position within a conservation area of Penzance, within a short walk to Penlee Park, the sea and the Promenade.
Alexandra Place is a sought after area within Penzance and would recommend an early appointment to fully appreciate this wonderful investment opportunity.
All flats are currently let on assured periodic tenancies and are providing an income in excess of £45,000 per annum.
Property additional info Paved area to front with granite steps leading to wooden front door with skylight over into: Main hallway: Window to front, stairs rising with cupboard under, fire alarm box, doors to: Flat 1: 15' 6" x 14' 10" (4.72m x 4.52m) 34 square metres.
Inner hallway: Double glazed bay window to front, doors to: Kitchen: 10' 8" x 5' 5" (3.25m x 1.65m) Tiled floor, double glazed window to rear, base and wall units, rolltop worksurfaces and tiling over, single drainer stainless steel sink unit, plumbing for washing machine, integral oven and hob.
Shower room: Tiled floor, heated towel rail, extractor fan, pedestal wash hand basin, WC, fully tiled shower cubicle. EPC: Tbc Income: £550 pcm flat 2: 24 square metres.
Door to: Hallway: Further door to: Shower room: Cupboard to one wall, vanity wash hand basin, heated towel rail, WC, shower cubicle, extractor fan.
Door from hallway into: Living room/kitchen: 14' 6" x 13' 5" (4.42m x 4.09m) Double glazed bay window to front, kitchen units to one wall with integral oven, hob, extractor fan, one and a half bowl stainless steel sink unit.
EPC: E Income: £550 pcm. Stairs from ground floor hallway to: First floor landing: Stairs rising, cupboard under, double glazed windows to front, door into: Flat 3: 40 square metres.
Open plan living room/kitchen: 15' 9" x 13' 9" (4.80m x 4.19m) Double glazed bay window to front, base and wall units with worksurfaces and tiling over, one and a half bowl stainless steel sink unit, plumbing for washing machine, space for cooker.
Bedroom: 11' 11" x 9' 11" (3.63m x 3.02m) Wall mounted panelled heater, two double glazed windows to rear.
Shower room: WC, pedestal wash hand basin, heated towel rail, fully tiled shower cubicle, fitted cupboard, extractor fan. EPC: D Income: £650 pcm.
Flat 4: 32 square metres hallway: Cupboard to one wall, doors to: Living room/kitchen: 13' 5" x 11' 0" (4.09m x 3.35m) Base and wall units to one wall, cooker and hob, extractor over, single drainer stainless steel sink unit double glazed window to front with views over the football field.
Bedroom: 11' 8" x 9' 4" (3.56m x 2.84m) Double glazed window to rear with electric heater, door to: Shower room: Fully tiled shower cubicle, WC, pedestal wash hand basin, double glazed window to rear, extractor fan.
EPC: E Income: £595 pcm.
Second floor landing: Skylight to rear, two storages into eaves space, doors to: Flat 5: 26 square metres bedroom: 15' 1" x 7' 5" (4.60m x 2.26m) L shaped, electric panelled heater, double glazed window to front.
Kitchen: 6' 11" x 6' 8" (2.11m x 2.03m) Double glazed window to rear, wash hand basin, base units, electric cooker point, fan heater.
Shower room: Double glazed window to rear, pedestal wash hand basin, WC, fully tiled shower cubicle, heated towel rail, access to loft, water heater. EPC: E Income: £525 pcm.
Flat 6: 22 square metres bedroom: 16' 10" x 15' 0" (5.13m x 4.57m) L shaped, double glazed window to front, electric heater, door to: Kitchen: 6' 0" x 5' 8" (1.83m x 1.73m) Skylight to rear, base units with rolltop worksurfaces, electric cooker point.
Shower room: Skylight to rear, shower cubicle, pedestal wash hand basin, WC, heated towel rail. EPC: D Income: £500 pcm. Garden flat: 23 square metres.
Access to the rear of the property through a fully enclosed courtyard garden which is divided into two areas, double glazed door into: Kitchen: 10' 11" x 4' 11" (3.33m x 1.50m) Base and wall units, worksurfaces and tiling over, one and a half bowl stainless steel sink, electric oven, hob, tiled floor, electric radiator, double glazed window, door opens into: Living room: 18' 9" x 12' 6" (5.72m x 3.81m) Fireplace to one wall with electric fire, recess to either side of the fireplace, fitted cupboards, double glazed French doors onto the courtyard, door to: Shower room: Tiled floor, WC, wash hand basin, fully tiled shower cubicle, fan heater, extractor fan, shaver light and point.
EPC: Tbc Income: £510 pcm. Outside: The property has tiled area to the front, fully enclosed courtyard to the rear. Services: Mains water, electricity and drainage.
N.B: The current gross income is approximately £46,500 pa.
Directions: Via "What3Words" app: ///alarming.circus.ritual agents notes: We understand from Openreach website that Full Fibre Broadband is available to the property.
We tested the mobile phone signal for O2 which was good. The property is built of granite under a slate roof. Roof type: Slate tiles. Mobile signal/coverage: Good. Water source: Direct mains water.
Electricity source: National Grid. Sewerage arrangements: Standard UK domestic. Heating Supply: Central heating (electric). Broadband internet type: FTTP (fibre to the premises).
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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FAQ
About Treyarnon, Alexandra Place, PENZANCE
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