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Flat 6, 8 Stanford Ave, Brighton, BN1 6AA Print E-mail

8 stanford avenue-small.jpgTWO BEDROOM FIRST FLOOR PURPOSE BUILT FLAT
£180,000

A truly spacious two bedroom flat in a purpose built extension on an older building opposite Preston Park.  The first floor flat occupies the whole floor with a good wide hallway, large bright lounge, very good sized kitchen & bathroom, two double bedrooms, gas central heating and allocated off street parking - a huge plus in a city where parking is expensive.
Initial outlay required: £56,514

SOLD

Location: Adjacent to Preston Park with its sporting opportunities, gardens & fine lawns.   Easy walking distance of main shopping at Preston Circus & London Road. Excellent fast & frequent local bus service to city centre, station and sea front.

Description:  A spacious two double bedroom first floor flat, gas central heating (new boiler in 2007. ) Low maintenance and long lease make it ideal for letting.

Approximate Area: 680 square feet

Entrance: Communal entrance with stairs and lift to first floor.  Personal entrance leading to hallway with radiator, entryphone system and recess cupboard.

Lounge: 16'7 x 13'4 into bay window, radiator, hatch to kitchen, TV and telephone points. 

Kitchen: 9'10 x 10'2  Matching range of wall and base units, a double stainless steel sink drainer, space and plumbing for washing machine, space for fridge freezer, free standing gas cooker.   Wall mounted gas central heating boiler (new in 2007) vinyl flooring, service hatch to lounge.

Bedroom One: 13'7 x 10'4   Radiator.

Bedroom Two: 10'10 x 8'4  Built in wardrobe, radiator.

Bathroom: Panel bath, pedestal wash hand basin, low level wc, radiator,

Outside: Allocated car parking in Bay 6

Outgoings:

Lease: 125 years from 1987 (101 years left)

Maintenance: £1,000 per annum
Ground Rent: £55 per annum 

Recommended Update: Redecoration, blinds, carpets, new kitchen, new bathroom when tenant leaves (£14,000) *

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 6, 8 STANFORD AVENUE, BRIGHTON BN1 6AA
Financial Forecast Guide

Asking Price £180,000  
 
Set Up Costs
Solicitors Fees £650 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £175,000  
Estimated Update * incl 10% supervision fee
Stamp Duty £1,750 commencing @ 1% over £175k
TOTAL £176, 750  
 
Estimated Rental Income
Rent per week £196  
Rent per month £849  
Rent per year £10,192  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,796 @ 15% plus VAT
Ground Rent £55 per annum
Maintenance Charge £1,000 per annum
TOTAL £2,851 per annum
 
Summary
Gross Rent Per Year £10,192  
Annual Operating Costs £2,851  
Nett Cash In Hand pa £7,340  
Nett Cash In Hand pm £611  
 
Mortgage- Assuming 70% Loan £122,500  
 
Total Cash Outlay £56,514  
 
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