This property is no longer on the market
2 bedroom house
Key information
Property description & features
- SOLD PRIOR TO AUCTION
- Freehold Residential Investment
- 3 Self Contained Flats
- Driveway to Garage
- Front & Rear Gardens
- Potential Rental Income of 44,400
- Break Up Potential of Circa 20 Percent
- 5.6 Percent Yield
- Also Suit Home and Income
- Substantial Investment
Guide Price £795,000
Freehold Residential Investment
Semi detached villa style property providing for an ideal residential investment and or home and income comprising of 3 self contained flats (with the ground floor 2 bedroom flat offered with vacant possession), driveway and garage. It may be possible (SPP) to adapt the loft space into either a extension to one of the existing flats or the creation of a brand new unit. We mention the potential for a home an income due to the fact the ground floor flat would make a really very nice home with the benefit of the income from the other two flats and as we allude to, the possibility of further development within the loft area.
The flats are all bright & spacious although each are, in our opinion, underlet whilst another consideration should be given to the renting the garage separately as another way of increasing the rental income.
The accommodation comprises of:
Vacant 2 bedroom ground floor flat with front and south facing rear garden with its very own private entrance, driveway and garage in good order throughout with spacious accommodation. Offered with vacant possession and in our opinion has potential for a rental value of approximately £1,900 per month.
1 bedroom front floor flat offering extremely good size accommodation currently underlet at £750 pcm which has, in our opinion, an estimated rental value of £950 pcm.
Studio rear first floor flat again offering good size accommodation in excellent condition currently underlet at £800 pcm which has, in our opinion, an estimated rental value of £850 pcm.
In our opinion, estimated total rental income should be in the region of £3,700 pcm, £44,400 per annum
The location of the property is within one of Hove's finest locations close to Hove Park and Hove Mainline Railway Station and also close to the city centre.
The property not only offers a yield of 5.6% but also a very significant break up value of circa 20%
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