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£350,000
Bedrooms
Bathrooms
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We are delighted to offer this excellent investment opportunity a block of three individual, self-contained one-bedroom flats located in the ever-popular Western Park area. Currently generating 18,600 per annum, this well-presented property on Glenfield Road is ideally situated within easy reach of supermarkets, bars, and local amenities.
Each flat benefits from its own private entrance, modern fitted kitchen, lounge, bathroom, and double bedroom. All three units are let on individual Assured Shorthold Tenancies (ASTs), providing a strong and reliable rental income.
Access to all three flats is via a shared communal entrance hallway, with additional access available from the communal rear garden.
Flat 1- GROUND FLOOR (56 sq m)
This well-proportioned flat comprises a lounge, kitchen, double bedroom, and bathroom.
Upon entering, you are welcomed into a spacious living area, neutrally decorated with stylish laminate flooring. Leading down the hallway, the first room is a generously sized double bedroom offering ample space for storage and furnishings. Continuing along the hallway, one direction provides access to the communal garden, while the other leads to the kitchen. The fitted kitchen offers plentiful storage and space for a small dining area. The bathroom, accessed via the kitchen, includes a shower over bath, WC, and wash basin.
Flat 2- FIRST FLOOR (64 sq m)
This flat features a lounge, kitchen, double bedroom, and bathroom.
The entrance opens into a welcoming hallway, with the lounge situated at the front of the property. The lounge is bright and spacious, with neutral dcor and fitted carpet. Further along the hallway is a well-sized double bedroom with room for furnishings and personal belongings. The adjacent bathroom includes a shower over bath, WC, and wash basin. At the end of the hallway, the fitted kitchen offers generous storage and dining space, and benefits from direct access to the garden via a stairway.
Flat 3 SECOND FLOOR (42 sq m)
This top-floor flat comprises an open-plan kitchen/living area, double bedroom, and bathroom.
Accessed via a staircase, the flat opens into a bright and airy open-plan lounge/kitchen, which is neutrally decorated and includes a well-appointed fitted kitchen with ample storage and room for furnishings. The double bedroom is spacious and also offers direct access to the communal garden via a private stairway. The bathroom includes a shower over bath, WC, and wash basin.
EPC rating: C. Council tax band: A, Tenure: Freehold,Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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