2 bedroom apartment for sale

£295,000

2

Bedrooms

1

Bathrooms

Floorplan

Ground floor apartment enjoying stunning sea views within a conversion of a Victorian property with private rear courtyard, private parking and delightful communal gardens.

Washington House, with origins believed to date back to 1850, commands a prominent, elevated position on Castle Hill with uninterrupted sea views. The grounds are surrounded by a stone wall and include a lovely communal lawned area to the front. The building itself is very well maintained and presented throughout and the apartment benefits from uPVC double glazed windows and gas fired central heating.

Central to Seaton, the property is situated in the heart of the town, a stones throw from the beach and seafront, and a short walk to the local shops.

Flat 1 has the benefit of an enclosed private courtyard with shed and rear access alongside pedestrian access to the front of the building.

A communal entrance hall leads to the private front door to number 1 alongside a private, lockable cupboard which houses the consumer unit, electric meter and coat hooks.
On entering, doors lead to all rooms from the spacious hallway along with three good sized storage cupboards. Immediately on your right is a large living/dining room which takes full advantage of the views from a large window to the front from a raised area at one end, which is perfect for dining with a view. There is a central fireplace with an inset gas log effect stove.

The kitchen is fully fitted with a range of matching wood effect base and wall units, tiled splashback, laminate worktops and sink. There is a freestanding electric cooker, space/plumbing for one undercounter appliance and space for a fridge freezer. A door leads out from the kitchen to the rear courtyard area.

There are two bedrooms with the master bedroom having large, fitted storage cupboards, one of which houses the gas central heating boiler. The bathroom is fully tiled with laminate flooring and a white suite comprising bath, wash hand basin over vanity unit and WC. The apartment must be viewed internally to appreciate the superb view which is enjoyed from its elevated position.

Outside :
Washington House benefits from communal grounds include a large lawned area to the front surrounded by well-stocked flower borders. A footpath leads up from Castle Hill to the property and there is a decked seating area to take in the fantastic views across to Beer Cliffs. Number 1 benefits from its own enclosed private courtyard with stone wall surround and large shed with raised patio area. A wooden gate provides pedestrian access to the rear of the property.

Tenure :
We are advised that the property is 1/6th share of the freehold with a 999-year lease which commenced 1981. We are advised that there is a monthly charge of 150 which covers buildings and garden maintenance, window & communal area cleaning as well as buildings insurance.

Services: We are advised that all mains services are connected.

Council Tax: We are advised that this property is in council tax band C. East Devon District Council.

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Mortgage Calculator

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 )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 246075

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

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Cumulative Rental Profit

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Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 7375
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

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.

Annual Costs

£ 24825
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

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£
  %

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.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

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  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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