RDA Estates

"experts in residential property investment"

1 Valverde House, Eaton Gardens, Hove, East Sussex, East Sussex, BN3 3TU

This two bedroom spacious property occupies part of the lower ground floor of this excellently located purpose built block on a highly sought after road. Valverde House is close to central Hove, Brighton's town centre, Hove mainline railway station, Brighton beach and local amenities are just a two minute walk away.

£ 250,000.00
Category: Leasehold
Property Type: Two bedrooms or more
Beds: 2
Baths: 1.00
Status: For Sale
Outline:

This two bedroom spacious property occupies part of the lower ground floor of this excellently located purpose built block on a highly sought after road. Valverde House is close to central Hove, Brighton's town centre, Hove mainline railway station, Brighton beach and local amenities are just a two minute walk away.


Facilities:
Double Glazing,Shower

Location:

This flat is situated on a quiet, beautiful, residential road that is only a few minutes walk away from all local amenities.

Hove mainline railway station is just a 5 minutes walk away with direct and fast trains to Gatwick airport and London.

Brighton's town centre is within a half an hour walk away alternatively, there are plenty of local bus stops with frequent busses running in and out of town.

Brighton's beautiful beach is 10 minutes stroll away.

There are two large parks nearby - St Ann's Wells Gardens and Hove Park.

Sussex County Cricket Ground is just around the corner which hosts events all year round.


Nearby:
Shopping Area,Train Station,Coffee Shop,Beach,Park,School,Restaurants,Sussex County Cricket Ground

Property Details:
Hallway:

Doors to both double bedrooms, the lounge and kitchen. 2 x built in store cupboards, door entryphone, doors to bathroom & separate WC, fitted immersion heater in one of the cupboards

Lounge:

14'6 x 11'11 - West-facing window, twin double-glazed double doors overlooking and opening onto garden area, night storage heater

Kitchen:

11'1 x 6'2 - Fitted kitchen with wall and base units comprising cupboards, drawers and work surfaces, stainless steel sink unit with cupboard underneath, fitted washing machine and fridge, 4 ring electric hob unit with matching low level oven, part tiles walls, window over garden

 

Bedroom 1:

11'2 x 9'7 - West-facing window, night storage heater

Bedroom 2:

10'6 x 7'1 - West-facing window, night storage heater

Bathroom:

6'11 x 6'0 - White suite comprising wood panelled bath with hand shower attachment, pedestal wash hand basin, part tiled walls with dado, extractor fan

Separate WC:

Low level W.C, extractor fan, artexed ceiling

Outside:

Access through the double doors in the lounge to small garden area

Lease:

999 Years from 1964



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 £250,000 offers over 
 
Set Up Costs
Solicitors Fees        £780 incl VAT excl disbursements
Research Fee     £2,000  excl. VAT
 
Purchase Costs
Assumed Purchase Price £250,000  
Estimated Update   £20,000 incl 10% supervision fee
Stamp Duty   £7,500 commencing @ 3% 
TOTAL £277,500  
 
Estimated Rental Income
Rent per week   £265.38  
Rent per month     £1,150  
Rent per year   £13,800  
 
Owner's Annual Operating Costs
Rental Agent's Fees   £2,380.50 @ 15% plus VAT
Ground Rent      £150.00 per annum
Maintenance Charge      £50 per annum
TOTAL   £2,580.50 per annum
 
Summary
Gross Rent Per Year      £13,800  
Annual Operating Costs   £2,580.50  
Nett Cash In Hand pa  £11,219.50  
Nett Cash In Hand pm     £934.96  
 
Mortgage - Assuming 70% Loan £175,000  
 
Total Cash Outlay   £105,280  

ASKING PRICE
The price of the property as advertised.

SET UP COSTS
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.

PURCHASE COSTS
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.

OWNER'S ANNUAL OPERATING COSTS
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.

SUMMARY
An overview of the annual income and expenditure.

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

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