Flat 16, 11-13 Albany Villas, Hove BN3 2RS

f16avsmall NEWLY REFURBISHED SECOND FLOOR ONE BEDROOM APARTMENT
£159,950 LEASEHOLD

A good sized newly refurbished one bedroom second floor east facing flat in an attractive well maintained double fronted period building in very popular area of Hove close to seafront and shops.

Initial outlay required: £52,330

SOLD

Location: Albany Villas runs North to South from Church road to the Kingsway. Hove seafront is a two minute walk from the property with its bathing beaches, lawns and promenades. Church Road has a multitude of shops, restaurants and other high street facilities and offers a fast and efficient bus service to all parts of the city. Hove station is about a 10 minute walk with its fast trains to London Victoria and Gatwick.

Description: An excellent example of a period property, double fronted over three floors. The flat is on the second floor and is east facing. It has been well modernised with a range of quality fittings in both the kitchen and bathroom. It should demand a good rent and has asset growth potential.

Approximate Area: 350 Sq ft

Entrance: Door into hallway, newly fitted carpet, built in cupboard housing electric meter, door entry phone system, doors leading to:

Lounge: 16'3 x 10'10 Spacious lounge with two large sash windows, also offering access to a fire escape. Newly neutrally decorated and wall papered feature wall, modern light fitting, telephone point and radiator.

Kitchen:7'1 x 5'5 Newly fitted white high gloss kitchen with a range of base and eye level units, built in Hotpoint gas hob, electric oven and stainless steel chimney extractor hood, built in Hotpoint washing machine and built in Hotpoint fridge with freezer compartment, single drainer sink with mixer tap, modern work surfaces with Porcelonsa mosaic tiled splashback, Valliant combination boiler and oak engineered wooden flooring.

Bedroom: 10'4 x 9'10 newly fitted carpet, large sash window, modern light fitting, radiator.

Bathroom:Newly fitted white quality suite with Bette steel bath with Hansgrohe mixer tap and shower attachment, fitted Darly glass shower screen, Porcelanosa part tiled walls, Duravit low level WC , Duravit wash hand basin with Hansgrohe chrome

Outside: Large storeroom accessed from front of the building which makes good use for storing bikes.

Outgoings:

Lease: 125 years from 1985 Leasehold
Maintenance: £1090 pa
Ground Rent: £100

Recommended Update: Blinds

A professional electrical survey may reveal work not covered by the update. It is recommended that an electrical survey is carried in additon to the valuation survey at a cost of GBP 180.00 (inclusive of VAT)

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 16, 11-13 Albany Villas, Hove BN3 2RS
Financial Forecast Guide

Asking Price	£159,950

Set Up Costs
Solicitors Fees	£645	incl VAT excl disbursements
Research Fee	£1,500

Purchase Costs
Assumed Purchase Price	£159.950
Estimated Update	£600	incl 10% supervision fee
Stamp Duty	£1,600	commencing @ 1% over £125k
TOTAL	£162,150

Estimated Rental Income
Rent per week	£184
Rent per month	£797
Rent per year	£9,568

Owner's Annual Operating Costs
Rental Agent's Fees	£1,650	@ 15% plus VAT
Ground Rent	£100	per annum
Maintenance Charge	£1090	per annum
TOTAL	£2,840	per annum

Summary
Gross Rent Per Year	£9,658
Annual Operating Costs	£2,840
Nett Cash In Hand pa	£6,727
Nett Cash In Hand pm	£561

Mortgage - Assuming 70% Loan	£111,965

Total Cash Outlay	£52,330

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