TWO BEDROOM SELF CONTAINED MAISONETTE
£199,950
A two double bedroom maisonette situated in a very popular road. The property is situated close to the local shops and restaurants and is just a short walk from Hove seafront.
Initial outlay required: £75,130
Location: A popular, central but quiet location. The centre of Hove with its excellent shopping facilities, cosmopolitan bars and restaurants is within walking distance. Sussex County Cricket Club and the delightful seafront are also close by. The local buses provide regular services throughout Brighton and Hove and there are fast, regular rail services from Hove Station.
Description: A well proportioned two bedroom maisonette which requires some updating. This property is in a very convenient location and further benefits from a communal garden.
Approximate Area: 600 square feet
Entrance: Own private front door leading to hallway with radiator, under stairs storage cupboard and window.
Lounge: 13'1 x 13'8 Radiator, door to communal gardens.
Kitchen: 13'4 x 10'5 New kitchen required.
WC White suite comprising low level wc, wash hand basin, radiator, obscured window.
Bedroom One: 9'9 x 13'7 Built-in storage cupboard, radiator, windows.
Bedroom Two: 7'9 x 10'6 Storage cupboard with shelf and hanging rail, radiator, window.
Bathroom: White suite comprising low level wc, bath, wash hand basin, radiator, window, extractor fan. New shower required.
Outside: Communal garden
Outgoings:
Lease: 99 years from 1990
Maintenance: £500 per annum
Ground Rent: £200 per annum
Recommended Update: New kitchen, redecoration, new carpets, new blinds, new shower and tiling in the 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: 21A VALLANCE GARDENS HOVE
Financial Forecast Guide
| Asking Price | £199,950 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | incl VAT excl disbursements |
| Research Fee | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £199,950 | |
| Estimated Update | £11,000 | incl 10% supervision fee |
| Stamp Duty | £2,000 | commencing @ 1% over £175k |
| TOTAL | £212,950 | |
| 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 | £200 | per annum |
| Maintenance Charge | £500 | per annum |
| TOTAL | £2,584 | per annum |
| Summary | ||
| Gross Rent Per Year | £10,920 | |
| Annual Operating Costs | £2,584 | |
| Nett Cash In Hand pa | £8,336 | |
| Nett Cash In Hand pm | £695 | |
| Mortgage - Assuming 70% Loan | £139,965 | |
| Total Cash Outlay | £75,130 | |