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£500,000
An investment opportunity in a waterside village comprising of four x 1 bedroom apartments with parking. Three of the apartments are current let on Assured Shorthold Tenancies.
Apartment 1 is currently let on an Assured Shorthold Tenancy at a rent of 725 per calendar month until 29th August 2025.
Apartment 2 is currently let on an Assured Shorthold Tenancy at a rent of 725 per calendar month until 8th June 2026.
Apartment 3 is currently vacant.
Apartment 4 is currently let on an Assured Shorthold Tenancy at 700 per calendar month until the 18th September 2025.
We are currently assessing the renewal options with the current tenants and further information will be available on request.
The apartments are all in reasonable condition.
Outside
The apartments each benefit from one parking space.
Location
The apartments are in situated in the popular village of Rowhedge, a short distance from the river and opposite the Co-Operative foodstore.
Colchester city centre is a short drive away.
Directions
Please use postcode CO5 7EU for SatNav.
Important Information
Council Tax Band A (for each apartment)
EPC Ratings
Apartment 1 - Rating D
Apartment 2 - Rating E
Apartment 3 - Rating D
Apartment 4 - Rating E
Services - We understand that mains water, drainage and electricity are connected to the property.
Tenure - Freehold
Our ref - COL250468
Agents Note
Photographs shown are of Apartment 4 and were taken prior to occupation by the current tenant.
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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