ONE BEDROOM PURPOSE BUILT FLAT
£144,950 SHARE OF FREEHOLD
A one bedroom first floor purpose built apartment with balcony and large communal garden. An excellent investment opportunity - not to be missed!
Initial outlay required: £85,095
SOLD
Location: Furze Hill is a great location - close to Hove seafront, the very beautiful St Anne's Well Gardens and Sussex County Cricket Ground. The property is also ideally situated for easy access to the many bars, cafes, restaurants and shops in the city of Brighton & Hove. Both Brighton and Hove's mainline railway stations with fast, frequent links to London Victoria and Gatwick Airport are within easy reach.
Description: A one double bedroom apartment on the garden level of a much sought after purpose built block. Benefits include a resident caretaker and well maintained communal gardens. Refurbishment will transform this property into an ideal rental flat.
Approximate Area: 400 square feet
Entrance: Communal entrance with stairs and lifts to garden first floor. Personal entrance hall with storage cupboard.
Lounge: 14'10 x 10'4 Double glazed window with single glazed door to balcony. Dark carpet, electric fire.
Kitchen: Range of modern base units with eye level wall cupboards above. Laminate worksurface with single drainer sink unit. Built in electric oven and hob with extractor over. Space for fridge, space and plumbing for washing machine. Double glazed window. Serving hatch to lounge.
Bedroom: 13' x 8'7 Double glazed window with single glazed door to balcony. Two double fitted wardrobes, wall mounted electric heater, dark carpet.
Bathroom: Modern white suite comprising panelled bath with electric shower over, wash hand basin and low level wc. Part tiled. Double glazed window.
Outside: Well maintained communal gardens with southerly aspect.
Outgoings:
Lease: Share of Freehold
Maintenance: £1,800 per annum
Ground Rent: n/a
Recommended Update: New appliances and blinds.
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: 10 FURZE HILL COURT, HOVE BN3 1PG
Financial Forecast Guide
| Asking Price | £144,950 | |
| Set Up Costs | ||
| Solicitors Fees | £645 | incl VAT excl disbursements |
| Research Fee | £1,500 | |
| Purchase Costs | ||
| Assumed Purchase Price | £144,950 | |
| Estimated Update | £1,500 | incl 10% supervision fee |
| Stamp Duty | 1,450 | commencing @ 1% over £125k |
| TOTAL | £147,900 | |
| Estimated Rental Income | ||
| Rent per week | £150 | |
| Rent per month | £650 | |
| Rent per year | £7,800 | |
| Owner's Annual Operating Costs | ||
| Rental Agent's Fees | £1,346 | @ 15% plus VAT |
| Ground Rent | n/a | per annum |
| Maintenance Charge | £1,800 | per annum |
| TOTAL | £3,146 | per annum |
| Summary | ||
| Gross Rent Per Year | £7,800 | |
| Annual Operating Costs | £3,146 | |
| Nett Cash In Hand pa | £4,656 | |
| Nett Cash In Hand pm | £388 | |
| Mortgage - Assuming 70% Loan | £64,950 | |
| Total Cash Outlay | £85,095 | |