Bideford, EX39 2DE

Located in the heart of town, just a short stroll from all amenities, this charming stone-fronted Grade II listed property offers an exceptional investment opportunity. Expertly converted 30 years ago, the building now houses 3 self-contained flats and a separate 2 Bedroom cottage, each offering significant rental potential.

Spanning 3 floors, the property is accessed via a Communal Hallway, featuring a spiral staircase. On the Ground Floor, you'll find a well-appointed 1 Bedroom flat. The first and second floors each host identical 2 Bedroom flats, with the top floor flat benefiting from additional roof lights and both enjoying partial river views.

Within the Communal Hallway, there is a secure storage area, currently used for bicycle storage, adding to the appeal for tenants. The flats are accessed by a covered walkway that leads to the rear of the building, where you'll discover the adjoining 2 Bedroom cottage. This cottage, which boasts a private courtyard, is currently vacant and offers an excellent opportunity for refurbishment to further increase its rental value.

The flats have a proven track record of successful letting, with long-term tenants in place, generating a current annual rental income of approximately £22,500. However, there is significant potential to increase this figure in line with current market rates, particularly after modernising the vacant cottage.

Realistically priced to attract an early sale, this property represents a superb investment with immediate income and potential for growth. Don’t miss out on this unique opportunity to enhance your property portfolio in a highly desirable location.

Agents Notes

Current Rent : Flat 1 £395pcm. Flat 2 £550pcm. Flat 3 £422.11pcm. Bond Cottage (currently vacant) £525pcm. The main water meter is situated in Flat 1. There are sub meters in the other properties and the current landlord invoices the tenants accordingly. Each property has its own gas boiler and radiator heating.