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Flat 6, 58 Denmark Villas, Hove BN3 3TJ Print E-mail

Flat 6, 58 Denmark Villas, Hove BN3 3TJ ONE BEDROOM FIRST FLOOR FLAT
£139,950 LEASEHOLD

A one bedroom, first floor flat within walking distance from Hove Station – ideal for commuters. This property benefits from a south facing lounge, a new kitchen and a new bathroom. An excellent rental property.
Initial outlay required: £37,133

Location: Denmark Villas is centrally situated, close to Hove railway station, an excellent range of shopping facilities and an abundance of fine restaurants and wine bars. Hove seafront and Sussex County Cricket Club are also within walking distance. Both the train and local bus services provide a quick route to the centre of Brighton and beyond.

Description: A recently refurbished one bedroom first floor flat within a converted period property in a sought after, central Hove location. Features include a south facing lounge, a new kitchen and a new bathroom. An ideal flat for commuters and a sound investment property.

Approximate Area: 300 square feet

lounge kitchen bathroom

Entrance: Communal entrance with stairs rising to the property on the first floor.

Lounge: 15’8 x 12’4 South facing large bay window with sash windows, recessed cupboard, night storage heater and new carpet.

Kitchen: 8’7 x 4’2 Newly installed units with single drainer sink unit, cupboards beneath, laminate work surface, electric oven and hob, extractor, eye level wall cupboards, useful recess, window.

Bedroom: 8’3 x 5' 3 South facing sash window, new carpet. South facing sash window, new carpet.

Bathroom: New white suite comprising panel bath, wash hand basin, low level WC and new Mira shower.

Outgoings:

Lease: 97 years remaining
Maintenance: £551 pa
Ground Rent: £150 pa

Recommended Update: Recently refurbished - no work required

A professional electrical survey may reveal work not covered by the update.

These details are produced in good faith but are set out as a guide only and do not constitute any form of contract nor any statement contained therein to be representation or warranty. Any intended purchasers must satisfy themselves by inspection or under advice of their solicitor particularly in context of any approved plans for other on site or nearby development.

FINANCIAL FORECAST: Flat 6, 58 Denmark Villas, Hove BN3 3TJ
Financial Forecast Guide

Asking Price £139,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £139,950  
Estimated Update nil no update required
Stamp Duty nil commencing @ 1% over £175k
TOTAL £139,950  
 
Estimated Rental Income
Rent per week £140  
Rent per month £607  
Rent per year £7,280  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,256 @ 15% plus VAT
Ground Rent £150 per annum
Maintenance Charge £550 per annum
TOTAL £1,956 per annum
 
Summary
Gross Rent Per Year £7,280  
Annual Operating Costs £1,956  
Nett Cash In Hand pa £5,324  
Nett Cash In Hand pm £444  
 
Mortgage - Assuming 75% Loan £104,963  
 
Total Cash Outlay £37,133  
 
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