66A Osborne Villas, Hove BN3 2RB

LOWER GROUND FLOOR ONE BEDROOM FLAT IN TERRACEosbornev-small.jpg
£135,000 WITH SHARE OF FREEHOLD

A rarely available one bed lower ground flat in period terrace in the heart of Hove.


Initial outlay required: £44,995

SOLD

Location: Obsorne Villas runs South off Church Road.  Hove seafront is a short walk with its bathing beaches, promenades and lawns.  A large varirty of shops and restaurants can be found in Church Road and nearby George Street.  A fast and frequent bus service runs along Church Road accessing all parts of the City.  Hove station is in easy walking distance with its fast trainns to London and the West.   Properties in Osbourne Villas don't often become available.

Description: A surprising light lower ground floor one bedroom flat which benefits from modern gas central heating in a terraced house cicra 1890.

Approximate Area: 400 sq ft

Entrance: Steps down to own front door leading to corridor 

Lounge:  13'6 x 12'4 West facing bay window, radiator, shelving either side of chimney breast.

Bedroom:  10' x 11'6 East facing window, radiator. 

Kitchen:  11'9 x 7'9 Door to Patio, door to bathroom.  Base and wall mounted kitchen units, with inset stainless steel sink and drainer, built in electric hob, cooker and extractor, space for fridge freezer, space and plumbing for washing machine.  Part tiled, New Valiant gas boiler, radiator. 

Bathroom & Separate WC: White suite comprising panelled bath, pedestal was hand basin, electric shower, white tiling with small window.  Separate low level WC off bathroom with radiator, side window.

Outside:  Small patio

Outgoings:

Lease: Share of Freehold
Maintenance: £400 approx
Ground Rent: Nil

Update required:  Appliances & extractor to bathroom.

Recommended Update: New kitchen

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: 66A Osborne Villas, Hove, BN3 2RB
Financial Forecast Guide

Asking Price £135,000  
 
Set Up Costs
Solicitors Fees £645 incl VAT excl disbursements
Research Fee £1,500  
 
Purchase Costs
Assumed Purchase Price £135,000  
Estimated Update £1,000 incl 10% supervision fee
Stamp Duty 1,350 commencing @ 1% over £125k
TOTAL £137,350  
 
Estimated Rental Income
Rent per week £155  
Rent per month £675  Actual
Rent per year £8,100  
 
Owner's Annual Operating Costs
Rental Agent's Fees £1,420 @ 15% plus VAT
Ground Rent £000 per annum
Maintenance Charge £400 per annum
TOTAL £1,820 per annum
 
Summary
Gross Rent Per Year £8,100  
Annual Operating Costs £1,820  
Nett Cash In Hand pa £6,280  
Nett Cash In Hand pm £523  
 
Mortgage - Assuming 70% Loan £94,500  
 
Total Cash Outlay £44,995