18 Devonshire Court, The Drive, Hove, BN3 2DL

TWO BEDROOM FIRST FLOOR PURPOSE BUILT FLAT
£199,950 Leasehold

Modernized two double bedroom flat, minimum update required, ready for immediate rental close to Hove Station. Communal heating & hot water. Ideal rental property.
Initial outlay required: £65,630

SOLD

Location: On the junction with The Drive and Wilbury Crescent. Within an easy 10 minute stroll to Hove Station with its fast and frequent trains to London & Gatwick & the West coast line. A bus stop outside makes the city centre just ten minutes away. The Drive leads straight to Hove seafront with its bathing beaches, lawns and promenades.

Description: A large spacious modernised two bedroom purpose built flat in a sixties style block. Benefits from modern double glazing, communal central heating and hot water.

Approximate Area: 650 sq ft

Entrance:Built-in cupboard with shelf and storage above. Built-in airing cupboard with slatted shelves and storage above. Coved and textured ceilings with spotlights. Security entryphone. Telephone point. Doors giving access to all rooms.

Lounge:18' x 11'6 UPVC double glazed windows to front with a westerly aspect. Attractive feature leaded light Porthole style window to side. Fitted blinds. Radiator below. Coved and textured ceiling. Wall light points on dimmer switch. Television point.

Kitchen:10'5 x 7' Stainless steel single drainer sink unit with chrome mixer tap set in marble effect rolled edge worktops. Cupboards under. Space and plumbing for washing machine (included) Range of wall cupboards. UPVC doubled glazed window above sink with views to the rear. Cooker Adjoining worktops with base cupboards and drawers beneath, Space for large fridge/freezer. Cover and textured ceiling with spotlights.

Bedroom: 12'4 x 11'7, UPVC double glazed windows to side, Fitted blinds, radiator below, telephone point, Wall of floor to ceiling freestanding deep wardrobes with hanging rails and shelving being part smoke-glass fronted doors. Covered and textured ceiling, Dimmer switch.

Bedroom:14'4 x 10'8 UPVC double glazed window to front with westerly aspect. Fitted blinds, Radiator blow. ISDN point. Coved and textured ceiling.

Bathroom: Modern white suite comprising panelled bath with chrome mixer tap and shower attachment. Shower curtain and rail. Chrome handgrips. Tiled walls, Dual flush WC. Pedestal wash basin. Part wood panelled walls. Coved and textured ceiling. UPVC double glazed frosted glass window to rear. Chrome heated towel rail. Fitted wall shelves.

Outgoings:

Lease: 72 years remaining from 125 year lease - Recommend that vendor updates lease as part of agreement
Maintenance: £2,000
Ground Rent: £included in maintenance

Recommended Update: Blinds, Appliances, some decoration

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: 18 Devonshire Court, The Drive, Hove, BN3 6GT
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	£1,500	incl 10% supervision fee
Stamp Duty	£2,000	commencing @ 1% over £175k
TOTAL	£203,450

Estimated Rental Income
Rent per week	£196
Rent per month	£850
Rent per year	£10,200

Owner's Annual Operating Costs
Rental Agent's Fees	£1,760	@ 15% plus VAT
Ground Rent	£0	per annum
Maintenance Charge	£2,000	per annum
TOTAL	£3,760	per annum

Summary
Gross Rent Per Year	£10,200
Annual Operating Costs	£3,760
Nett Cash In Hand pa	£6,440
Nett Cash In Hand pm	£536

Mortgage - Assuming 70% Loan	£139,965

Total Cash Outlay	£65,630

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