ONE BEDROOM GROUND FLOOR FLAT WITH GARDEN
£149,950 SHARE OF FREEHOLD
A one bedroom ground floor flat with West facing rear garden situated in an extremely sought after location close to Hove seafront. An ideal property for rental - a sound investment.
Initial outlay required: £46,633
SOLD
Location: Very popular residential location close to Hove seafront and within walking distance of the local shops, bars and restaurants. Hove's mainline railway station provides fast, frequent links to London and local bus services provide quick regular services to Brighton and beyond.
Description: A one bedroom ground floor converted flat forming part of an older style period building. This property benefits from gas central heating and a share of the freehold.
Approximate Area: 400 square feet
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Entrance: Communal pathway leading to own private gate and glazed front door.
Lounge: 11'6 x 11'6 Westerly facing square bay window to rear overlooking garden. Two double radiators. Neutral carpet. TV aerial and telephone points.
Kitchen: 11'7 x 5' Range of modern eye and base level units. Roll edged work surfaces with inset stainless steel unit, drainer and mixer taps. Built in gas hob and electric oven with extractor hood over. Space and plumbing for washing machine, space for fridge. Tiled splashbacks. Frosted window to side, serving hatch to lounge. Double radiator, stripped floorboards.
Bedroom: 12'7 x 12'5 Sash window to rear. Double radiator. Storage cupboard housing gas boiler with shelving below. Neutral carpet.
Bathroom: New bathroom required.
Outside: Approximate area 330 square feet. Westerly aspect garden with patio area. Shaped pathway leading through a gravelled area with stocked shrub border. Small timber shed. Outside light.
Outgoings:
Lease: Share of Freehold
Maintenance: £800 tbc
Ground Rent: £000
Recommended Update: Redecoration, new blinds, new kitchen appliances, new gas hob, some tiling required in kitchen, new bathroom.
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 2, 80 LANGDALE ROAD HOVE BN3 4HP
Financial Forecast Guide
| Asking Price | £149,950 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | incl VAT excl disbursements |
| Research Fee | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £149,950 | |
| Estimated Update | £7,000 | incl 10% supervision fee |
| Stamp Duty | nil | commencing @ 1% over £175k |
| TOTAL | £156,950 | |
| Estimated Rental Income | ||
| Rent per week | £156 | |
| Rent per month | £676 | |
| Rent per year | £8,112 | |
| Owner's Annual Operating Costs | ||
| Rental Agent's Fees | £1,399 | @ 15% plus VAT |
| Ground Rent | £000 | per annum |
| Maintenance Charge | £800 | per annum - tbc |
| TOTAL | £2,199 | per annum |
| Summary | ||
| Gross Rent Per Year | £8,112 | |
| Annual Operating Costs | £2,199 | |
| Nett Cash In Hand pa | £5,913 | |
| Nett Cash In Hand pm | £493 | |
| Mortgage - Assuming 75% Loan | £112,463 | |
| Total Cash Outlay | £46,633 | |