London, RM204AW Tenure: Leasehold Location: London, Type of Property: Flat Guide Price: £ 124,950

Description

Single bedroom top floor apartment, with access to the loft.
Currently has 70 years remaining on on the lease, we have been informed that extend the lease by a further 99 years, would cost circa £14K-£18K.

The current tenants have been there for over 10 years and the current landlord has not increased rent to reflect market rental rates.
We understand the property can easily command £9,000 - £9,600 on an annually basis.

The property is close Lakeside retail park, and station and all other good transport links.

Similar like for likes and recently sold:

188, Parsonage Road, Grays, Thurrock RM20 4AW. 1 bed, flat. Sold £149,000 in 2019
224, Parsonage Road, Grays, Thurrock RM20 4AW. 1 bed, flat. Sold £153,000 in 2018

Property Details

Tenure: Leasehold

Location: London,

Type of Property: Flat


Financial Information

Rental Income: £ 3,554

Net Rental Income: £ 3,554 pa

Net Rental Yield: 3 %

Return For Investment: 11 %

Gross Yield: 5 %

Contact Information

Name: Dilip Rajani

Number: 07886816779

Email: dilip@hamiltonsbusinessconsultants.uk


Mortgage Illustration

Guide Price: £ 124,950

Agent Fee: 1%

Deposit Required: £ 31,550

Mortgage Amount: £ 94,650

Mortgage Payments: £ 256 pm

Based on 75% Loan To Value (LTV).
Mortgage Product:Interest Only @3.25%