TWO BEDROOM GROUND FLOOR PURPOSE BUILT FLAT
£175,000 LEASEHOLD
Good sized purposed built two bedroom flat a short walk from the floral clock in Palmeira Square. Fast and frequent bus service to the city centre and a couple of minutes walk to the beach. An ideal rental property.
Initial outlay required: £59,795
Location: Ideally situated in a residential yet convenient area of Hove, moments from Sussex County Cricket Ground. Amber Court is just a short walk from both a wide selection of shops and restaurants and the lawns, promenade and bathing beaches of Hove seafront. Hove Station is within walking distance with regular bus services to the city centre and beyond.
Description: A West facing, purpose built ground floor flat. This good size property has two double bedrooms and benefits from gas central heating.
Approximate Area: 600 sq ft
Entrance: Entryphone, radiator, wall cupboard.
Lounge: 16'7 x 14'1 West facing, Large picture window, radiator, TV aerial point.
Kitchen: 11'7 x 7'7 Range of modern base units comprising cupboards and drawers with matching wall units in beech effect, grey roll edge worktop with inset stainless steel sink and single drainer with mixer tap, inset white gas hob with matching white electric oven below and extractor above. Space and plumbing for washing machine & fridge. Part tiled walls. Radiator Wood effect vinyl flooring.
Bedroom One: 11'7 x 13'10 Full height mirrored wardrobes, double glazed window, radiator.
Bedroom Two: 8'10 8'6 Double glazed windows, radiator.
Bathroom: Modern white bathroom room suite comprising bath with shower over (water heated by combi boiler), pedestal wash basin with mirror over and light, low level wc, radiator.
Outgoings:
Lease: 125 years from September 1971
Maintenance: £736 per annum
Ground Rent: £30 per annum
Recommended Update: Redecoration and new carpets
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: 3 AMBER COURT SALISBURY ROAD HOVE BN3 3AA
Financial Forecast Guide
| Asking Price | £175,000 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | incl VAT excl disbursements |
| Research Fee | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £175,000 | |
| Estimated Update | £3,400 | incl 10% supervision fee |
| Stamp Duty | £1,750 | commencing @ 1% over £175k |
| TOTAL | £180,150 | |
| Estimated Rental Income | ||
| Rent per week | £193 | |
| Rent per month | £840 | |
| Rent per year | £10,080 | |
| Owner's Annual Operating Costs | ||
| Rental Agent's Fees | £1,776 | @ 15% plus VAT |
| Ground Rent | £30 | per annum |
| Maintenance Charge | £737 | per annum |
| TOTAL | £2,543 | per annum |
| Summary | ||
| Gross Rent Per Year | £10,080 | |
| Annual Operating Costs | £2,543 | |
| Nett Cash In Hand pa | £7,536 | |
| Nett Cash In Hand pm | £628 | |
| Mortgage - Assuming 70% Loan | £122,500 | |
| Total Cash Outlay | £59,795 | |