1-bedroom house · TQ4 5DU
Listing removedListed 350 days
Opportunity summary
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About
Description Situated in a convenient and level location, just on the edge of Paignton town centre, being close to a regular bus route and also having the benefit of good transport links to the town, with the bus/coach and railway station close at hand.
The property is also near to Paignton sea front, together with Goodrington Sands.
This purpose built retirement flat is situated in the McCarthy & Stone Development of "Cypress Court" and offers many facilities to residents over 60 years of age.
The development offers a communal lounge and laundry room, together with a scheme manager onsite and an emergency pull cord system. There is also a lift in the building.
The flat is situated on the second floor, and briefly comprises of an entrance hallway, lounge/dining room with door giving access to a balcony with decking and balustrading, having an open outlook.
The kitchen has integrated appliances, including a fridge, electric oven and ceramic hob. There is one double bedroom with a dual aspect, together with a bathroom/W.C.
The property is being sold with no onward chain and vacant possession. An internal viewing is recommended.
Council Tax Band: C (Torbay Council) Tenure: Leasehold (108 years) Ground Rent: Service Charge: Entrance Built in cupboard with electric meter and consumer unit, further built-in cupboard with slatted shelving and hot water tank.
Lounge/Dining Room Electric fire inset to fireplace, power points, TV aerial point, night storage heater, PVCu double glazed windows and doors out to balcony.
Doors into Kitchen Fitted kitchen with integrated oven and four ring ceramic hob and extractor over, integrated fridge, tilt and turn window, power points.
Double Bedroom Electric wall mounted heater, fitted wardrobes with mirrored sliding doors, tilt and turn window, power points.
Bathroom/W.C Panelled bath with shower over, wash hand basin, close coupled W.C, electric towel rail, electric wall heater. Tenure - Leasehold All Residents must be 60 years old and over.
Length of lease is 125 years from 2008. Service Charge: We have been informed that the maintenance service charge is approx £1533.85 half yearly.
Service Charge includes building insurance, general maintenance, window cleaning, water rates and gardening. Ground rent is £425 per annum. Management Company - First Port.
A Pet is allowed with prior permission from the Freeholder but cannot be replaced once it passes. The Parking is communal and unallocated. The 24 hour call System is currently provided by Apello.
Development facilities Residents Lounge, Guest Suite available, Laundry Room, Garden areas, communal Car Park, Visiting Development Manager and 24 Hour Emergency Call cover system.
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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About 42, Cypress Court, Paignton
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