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Flat 3, 22 Seafield Road, Hove BN3 2TP Print E-mail

22seafield-small.jpgLARGE CONVERTED FIRST FLOOR THREE BEDROOM APARTMENT
£210,000 New 125 year Lease

A good sized, gas central heated, three double bedroom apartment in need of some modernisation, close to Hove's seafront with shopping and excellent bus services just a short walk. 
Initial outlay required: £82,245

SOLD

Location:  Seafield Road runs south from Church Road to the Kingsway.  The area has excellent local shopping facilities and a superb fast frequent bus route to the city centre.  Hove's seafront with its lawns, promenades, bathing beaches is less than 5 minutes stroll.  Both Brighton & Hove mainline stations are within easy reach making London about an hour from the front door.

Description:  A good sized three double bedroom gas central heated converted apartment with great potential in need of modernisation.  Presently let on a shorthold tenancy. The apartment would benefit from modernisation.

Approximate Area: 800 sq feet

Entrance:

Lounge: 22'5 x 11'5  Recessed double cupboards with original doors, radiator, opening to Kitchen

Kitchen: 10' x 7'9 A range of fitted kitchen units, roll edged work surface with inset stainless steel single drainer and sink, inset ceramic hob, with electric oven below and extractor above,  space for appliances with plumbing.

Bedroom: 17'4 x 12' Built in wardrobe, radiator, triple bay window

Bedroom: 10'2 x 9'9 Built in wardrobe, radiator, sash window

Bedroom:9'6 x 6' Coved ceiling, radiator, sash window

Bathroom: White suite, comprising panelled bath with electric shower over, pedestal wash hand basin, built in airing cupboard housing hot water cylinder, slatted shelving above.

Inner Hallway with doorway to separate low level wc & oval wash hand basin.

 

Outgoings:

Lease: new 125 lease
Maintenance: £1,000
Ground Rent: £100

Recommended Update: New Kitchen,. New Bathroom, Carpets, redecoration & blinds

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: address-here
Financial Forecast Guide

Asking Price £210,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £210,000  
Estimated Update £15,000 incl 10% supervision fee
Stamp Duty

£2,100

 commencing @ 1% over £125k
TOTAL £227,100  
 
Estimated Rental Income
Rent per week £202  
Rent per month £875  
Rent per year £10,504  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,851 @ 15% plus VAT
Ground Rent £100 per annum
Maintenance Charge £1,000 per annum
TOTAL £2,951 per annum
 
Summary
Gross Rent Per Year £10,504  
Annual Operating Costs £2,951  
Nett Cash In Hand pa £7,553  
Nett Cash In Hand pm £629  
 
Mortgage - Assuming 70% Loan £147,000  
 
Total Cash Outlay £82,245  
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