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£350,000
Bedrooms
Bathrooms
A very well presented two-bedroom ground floor apartment with stunning sea and coastal views situated in an elevated position in the heart of Seaton.
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.
Since purchasing the property around nine years ago, the current vendor has made improvements throughout with redecoration internally including a new bathroom and kitchen complete with appliances. The property has also had new windows and a new kitchen door, a new gas central heating boiler and replacement to most radiators, installation of underfloor heating in the bathroom, tiled flooring and walls to the bathroom and new carpets.
Linking back to its Victorian roots, the property has plentiful character including high ceilings, decorative architraves and picture railings.
A communal entrance hall leads to the private front door to number 2 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. The living room is a spacious room with central feature fireplace with electric inset fire and a fitted window seat with window above showcasing the delightful sea, coastal and seafront views beyond.
The kitchen is contemporary and fully fitted with a range of matching base and wall units, matching granite worktops and splashback and sink. There is a built-in electric oven, Neff ceramic hob, extractor fan, integrated undercounter fridge and integrated washing machine, alongside a separate cupboard housing the gas central heating boiler. A door leads outside to the side of Washington house.
The property benefits from two bedrooms- bedroom 1 is a sizeable double with fitted wardrobes and bedroom 2 is a smaller single room currently utilised as a dining room.
There is a modern shower room which is fully tiled with walk in shower, concealed cistern WC and vanity unit with wash hand basin.
Outside: Washington House benefits from attractive front communal gardens with sweeping lawns and a decked seating area with outstanding sea and coastal views. A gate opens from Castle Hill with a pathway leading up through the gardens to the entrance and parking area. There is allocated parking for one vehicle. There is a communal drying area and storage shed 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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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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