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10 Furze Hill Court, Hove BN3 1PG

3furzehillcourtsmall.jpgONE BEDROOM PURPOSE BUILT FLAT
£144,950 SHARE OF FREEHOLD

A one bedroom first floor purpose built apartment with balcony and large communal garden.  An excellent investment opportunity - not to be missed!
Initial outlay required:  £85,095

SOLD

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Flat 1 Palmeira House Hove

1palmeirahousesmall.jpgTWO BEDROOM PURPOSE BUILT FLAT
£195,000 LEASEHOLD

An immaculately presented, purpose built apartment with two double bedrooms.  Situated in a sought after central location this property is an investment opportunity not to be missed.
Initial outlay required: £62,595

SOLD 


 

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Flat 5, 10 Palmeira Avenue Print E-mail

10palmeirasmall.jpgTWO BEDROOM CONVERTED FLAT
£225,000 LEASEHOLD

A third floor converted flat situated in a great location.  The modern kitchen and bathroom were installed in 2009 and the property further benefits from gas central heating.  An ideal investment.
Initial outlay required: £72,895

SOLD

Location: A highly desirable location, moments from the delightful gardens of Palmeira Square and a short walk to both the sea and Sussex County Cricket Ground.  There is very easy access to the local bars, restaurants and shops.  The local buses provide frequent services to the city centre and beyond.

Description: A delightful third floor, two bedroom converted flat.  This well proportioned period property benefits from a modern kitchen and bathroom and gas central heating.

Approximate Area: 550 square feet

Entrance: Impressive entrance with communal front door and stairs rising to third floor.  Door to Flat 5 leading to entrance hallway with door entry phone system, single panel radiator and cupboard with space and plumbing for washing machine.

Lounge:  21' x 13'9  Incorporating open plan kitchen.  Two sash windows to front with views towards Palmeira Square and the sea.  Single panel radiator, neutral carpet, coved ceiling and picture rail.

Kitchen: Comprising range of eye level and base level units with work surfaces and tiled splash back.  Integrated fridge freezer and dishwasher, inset stainless steel sink and mixer tap, stainless steel gas hob and oven with extractor over.

Bedroom:  13'4 x 12'2  Sash window to rear, single panel radiator, neutral carpet, picture rail and cupboard housing boiler.

Bedroom: 17'7 x 6'11  Sash window to front, single panel radiator, neutral carpet and picture rail.

Bathroom:  8'10 x 4'6  White suite comprising of panelled bath with mixer tap and shower attachment, wash hand basin with mixer tap and low level wc.  Part tiled walls, tiled floor and wall mounted chrome tiled radiator.

Outgoings:

Lease: 124 years remaining
Maintenance: £400 pa
Ground Rent: £100 pa

Recommended Update: New washing machine and some minor 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: FLAT 5, 10 PALMEIRA AVENUE, HOVE BN3 3GB
Financial Forecast Guide

Asking Price £225,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £225,000  
Estimated Update £1,000 incl 10% supervision fee
Stamp Duty £2,250 commencing @ 1% over £125k
TOTAL £228,250  
 
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 £100 per annum
Maintenance Charge £400 per annum
TOTAL £2,384 per annum
 
Summary
Gross Rent Per Year £10,920  
Annual Operating Costs £2,384  
Nett Cash In Hand pa £8,536  
Nett Cash In Hand pm £711  
 
Mortgage - Assuming 70% Loan £157,500  
 
Total Cash Outlay £72,895  
 
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