RDA Estates

"experts in residential property investment"

32 Dolphin Court, Hove Street, Hove, East Sussex, BN3 2DN

A top floor studio flat in a purpose built block in a very popular residential area. An excellent investment.

£ 149,000.00
Initial outlay required: £ 55,765
Category: Leasehold
Property Type: Studios
Beds: 1
Baths: 1.00
Status: Sold
Double Glazing,Gas Fired Central Heating,Sea Views,Shower,Balcony

Hove Street is a prime residential area in Hove, a short walk to the sea front, and located just around the corner from Church Road, with it's wealth of cafes, bars, restaurants and shops. A fast frequent bus service puts the city centre minutes away and easy access to mainline stations.

Shopping Area,Town Centre,Train Station,Coffee Shop,Beach,Park,School,Restaurants

Property Details:
Entrance: Security door entry phone system and built in cupboards.
Studio Room: 15'9" x 13' Built in storage cupboards, TV point, radiator, double glazed window and double glazed door leading with westerly aspect.
Kitchen: 9' x 4'9" Base and wall mounted units, roll top worksurface, stainless steel single drainer sink unit, four ring electric hob, electric oven under and extractor hood over, washing machine, further appliance space, part-tiled walls, double glazed west facing window, built in storage cupboard.
Bathroom: 7' x 5'6" White suite comprising panelled bath with mixer taps and shower attachment, low level w.c., pedestal wash hand basin, part tiled walls, heated towel rail radiator.
Outside: Balcony 12'5" x 3'9" With far reaching views over the sea towards Worthing.
Lease: 150 Years Remaining

A Financial Forecast highlighting costs and projected income is included for each property. This data enables clients to make informed decisions before proceeding with a purchase. Please see below for Financial Forecast Guide.

Asking Price £149,950  
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  
Purchase Costs
Assumed Purchase Price £149,950  
Estimated Update            £0 incl 10% supervision fee
Stamp Duty     £1,500 commencing @ 1% over £125k
TOTAL £151,450  
Estimated Rental Income
Rent per week        £144  
Rent per month        £625  
Rent per year     £7,500  
Owner's Annual Operating Costs
Rental Agent's Fees     £1,293 @ 15% plus VAT
Ground Rent            £0 per annum
Maintenance Charge     £1,500 per annum
TOTAL     £2,793 per annum
Gross Rent Per Year     £7,500  
Annual Operating Costs     £2,793  
Nett Cash In Hand pa     £4,706  
Nett Cash In Hand pm        £392  
Mortgage - Assuming 70% Loan £104,965  
Total Cash Outlay   £49,265  

The price of the property as advertised.

These are costs associated with the purchase of the property.

The Solicitors Fees are the costs for undertaking the legal work. This fee does not include the disbursements. The RDA Research Fee of £2,000 covers our expenses in relation to sourcing and identifying the property as an ideal investment in terms of asset growth and rental potential. It also includes our assistance with the purchase process. RDA monitors and progress chases property purchases and assists with all/any matters arising on behalf of our clients.

The fee is payable in two parts. £1,000 is due upon a client’s decision to purchase. This initial payment is not refundable but can be carried forward to an alternative purchase should the sale fall through. The balance of £1,000 is payable upon exchange of contracts of sale. When a mortgage is required the cost of the lender's arrangement fee and survey also need to be factored in.

These are the direct costs of purchasing the property. Assumed Purchase Price is the price which RDA anticipates being able to negotiate on behalf of the client. Estimated Update is based on RDA's recommendations for refurbishment. Stamp Duty Land Tax is the tax payable to the UK Government when you buy property.

Rental Agent's Fees are deducted monthly by the rental agent. Ground Rent is an annual fee charged by the Freeholder of a Leasehold property.

Maintenance Charges are a share of the costs of the maintenance of the building and the building insurance but do not include occasional internal maintenance costs.

An overview of the annual income and expenditure.

Calculated as 30% of the Assumed Purchase Price plus Estimated Update, Stamp Duty and Set Up Costs.

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