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Flat 5, Dolphin Court Hove BN3 2DN Print E-mail

dolphincourtsmall.jpgGROUND FLOOR PURPOSE BUILT STUDIO FLAT
£100,000 LEASEHOLD


A light, spacious West facing ground floor studio flat with separate kitchen.  Situated just off Hove seafront with easy access to all local amenities.  An excellent investment opportunity.
Initial outlay required: £44,145

SOLD

Location: This popular apartment block is situated just off Hove seafront.  There is easy access to all the local shopping facilities, restaurants, cafes and bars.  Hove mainline railway station is within walking distance and the local buses provide quick regular services to Brighton city centre and beyond.

Description: A light and airy spacious ground floor studio flat.  This purpose built property benefits from a West facing lounge and a separate kitchen.

Approximate Area: 250 square feet.   

Entrance: Communal hallway with secure entryphone system leading to personal entrance door and hallway with wood effect laminate flooring.

Studio Room:15' x 10'1  Wood effect laminate flooring, recently redecorated walls and woodwork.  Large West facing upvc double glazed window.  Radiator, TV point.  Door leading to separate kitchen.

Kitchen: 9'2 x 4'9  New kitchen required.

Bathroom: 7'8 x 5'6  New bathroom required.

Outgoings:

Lease: 87 years remaining
Maintenance: £1,300
Ground Rent: £100

Recommended Update: New kitchen, new bathroom, 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 5 DOLPHIN COURT HOVE BN3 2DN
Financial Forecast Guide

Asking Price £100,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £100,000  
Estimated Update £12,000 incl 10% supervision fee
Stamp Duty nil commencing @ 1% over £125k
TOTAL £112,000  
 
Estimated Rental Income
Rent per week £125  
Rent per month £542  
Rent per year £6,500  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,121 @ 15% plus VAT
Ground Rent £100 per annum
Maintenance Charge £1,300 per annum
TOTAL £2,521 per annum
 
Summary
Gross Rent Per Year £6,500  
Annual Operating Costs £2,521  
Nett Cash In Hand pa £3,979  
Nett Cash In Hand pm £332  
 
Mortgage - Assuming 70% Loan £70,000  
 
Total Cash Outlay £44,145  
 
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