ONE BEDROOM PURPOSE BUILT 4TH FLOOR FLAT
£150,00O SHARE OF FREEHOLD
A good sized one bedroom flat in a superb location with brilliant views towards the sea. Benefits include share of freehold, low maintenance, and parking. Once modernised this property will rent every day of the week - a super investment!
Initial outlay required: £67,095 includes modernisation costs
Location: Furze Hill House is in easy walking distance of Brighton Station and the main shopping area of Western Road. It backs onto St Annes Wells Gardens - one of the most beautiful parks in Brighton & Hove. An ideal central location with access to all parts of the city and yet with the quiet of the park and excellent views over the tops of buildings to the sea.
Description: A good size, fourth floor South facing one bedroom flat in need of modernisation. Two lifts serve the fourth floor.
Approximate Area: 425 square feet
Entrance Hallway: Long hallway serving all rooms.
Lounge: 18'0 x 10'4 A dual aspect room, with sliding patio doors onto balcony. Open access to:
Kitchen: 8'4 x 6'9 South facing window, in need of complete modernisation.
Bedroom: 13'4 x 9'0 South facing, built in storage cupboard
Bathroom: In need of modernisation.
Balcony: South facing balcony with fabulous rooftop and sea views across Hove.
Outgoings:
Lease: Share of Freehold
Maintenance: £430 pa
Ground Rent: Nil
Recommended Update: New Kitchen, New Bathroom, decoration, carpets, double glazed windows, blinds, storage heaters.
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: 44 FURZE HILL HOUSE FURZE HILL HOVE BN3 1PU
Financial Forecast Guide
| Asking Price | £150,000 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | incl VAT excl disbursements |
| Research Fee | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £145,000 | |
| Estimated Update | £20,000 | incl 10% supervision fee |
| Stamp Duty | £1,450 | |
| TOTAL | £163,050 | |
| Estimated Rental Income | ||
| Rent per week | £170 | |
| Rent per month | £737 | |
| Rent per year | £8,840 | |
| Owner's Annual Operating Costs | ||
| Rental Agent's Fees | £1,525 | @ 15% plus VAT |
| Ground Rent | £0 | per annum |
| Maintenance Charge | £430 | per annum |
| TOTAL | £1,955 | per annum |
| Summary | ||
| Gross Rent Per Year | £8,840 | |
| Annual Operating Costs | £1,955 | |
| Nett Cash In Hand pa | £6,885 | |
| Nett Cash In Hand pm | £574 | |
| Mortgage - Assuming 70% Loan | £101,500 | |
| Total Cash Outlay | £67,095 | |