Outland Road, Devon PL2 14 bed detached house for sale

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Outland Road, Devon PL2 14 bed detached house for sale

Outland Road, Devon PL2
£800,000

Price History

Initial price £1,000,000
21/01/25 £900,000
21/02/25 £850,000
14/03/25 £800,000
Price Change -20.00%

Description

This property is a rare investment opportunity that offers immediate income generation and substantial potential for future growth. The property has 14 fully tenanted rooms and a separate semi-detached one-bedroom bungalow, generating a total annual income of £83,112 (8.31% yield) and rising to £88,608 (8.81% yield) when the advertised room is filled. The tenants are working professionals or semi-retired individuals, ensuring stability and reliable income. The property has value-added potential, with the detached bungalow offering scope for a retrospective planning application to establish it as a separate dwelling. Additionally, the property has private car parking, a generous garden, and further parking spaces, enhancing its desirability to current and future tenants. Strategically positioned for redevelopment, the property offers multiple avenues to maximize its value, including upgrading existing rooms, converting the space into self-contained flats, or redeveloping the site into a modern apartment block.