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21a Vallance Gardens Hove Print E-mail

valancegdnssmall.jpgTWO BEDROOM SELF CONTAINED MAISONETTE
£199,950

SOLD

A two double bedroom maisonette situated in a very popular road.  The property is situated close to the local shops and restaurants and is just a short walk from Hove seafront.
Initial outlay required: £75,130

Location: A popular, central but quiet location.  The centre of Hove with its excellent shopping facilities, cosmopolitan bars and restaurants is within walking distance.  Sussex County Cricket Club and the delightful seafront are also close by.  The local buses provide regular services throughout Brighton and Hove and there are fast, regular rail services from Hove Station.

Description: A well proportioned two bedroom maisonette which requires some updating.  This property is in a very convenient location and further benefits from a communal garden.

Approximate Area: 600 square feet

 

Entrance:  Own private front door leading to hallway with radiator, under stairs storage cupboard and window.

Lounge: 13'1 x 13'8  Radiator, door to communal gardens.

Kitchen:  13'4 x 10'5  New kitchen required.

WC  White suite comprising low level wc, wash hand basin, radiator, obscured window.

Bedroom One: 9'9 x 13'7  Built-in storage cupboard, radiator, windows.

Bedroom Two: 7'9 x 10'6  Storage cupboard with shelf and hanging rail, radiator, window.

Bathroom: White suite comprising low level wc, bath, wash hand basin, radiator, window, extractor fan.  New shower required.

Outside: Communal garden

Outgoings:

Lease:  99 years from 1990
Maintenance:  £500 per annum
Ground Rent:  £200 per annum

Recommended Update: New kitchen, redecoration, new carpets, new blinds, new shower and tiling in the bathroom.

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: 21A VALLANCE GARDENS HOVE
Financial Forecast Guide

Asking Price £199,950  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £199,950  
Estimated Update £11,000 incl 10% supervision fee
Stamp Duty £2,000 commencing @ 1% over £175k
TOTAL £212,950  
 
Estimated Rental Income
Rent per week £210  
Rent per month £910  
Rent per year £10,920  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,884 @ 15% plus VAT
Ground Rent £200 per annum
Maintenance Charge £500 per annum
TOTAL £2,584 per annum
 
Summary
Gross Rent Per Year £10,920  
Annual Operating Costs £2,584  
Nett Cash In Hand pa £8,336  
Nett Cash In Hand pm £695  
 
Mortgage - Assuming 70% Loan £139,965  
 
Total Cash Outlay £75,130  
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