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£520,000 OIRO
Bedrooms
Bathrooms
Reception
ATTENTION INVESTORS!! This modern block apartments is a superb long term investment and is the perfect addition to a property portfolio. With four lovely two bedroom apartments with tenants in situ, underground garages and located in a very popular area, this property generates approximately 33600 in gross annual rental income with the potential for it to be increased.
As soon as you pull up outsidethis impressive large block of apartments, you will be impressed. It has been built to a high quality standard and is set on a generous size plot set over three levels. At basement level there are garages and on the ground and first floor there are two apartments on each floor. All of the apartments are modern, very spacious and are in lovely condition. They have two bedrooms, a lounge and a kitchen and are incredibly popular with people wanting to rent in the local area and currently all have tenantsin situ. The ground floor apartments have the added benefit of outdoor space with private gardens.
This is a freehold property.
EPCratings for apartments are either B or C
Council tax - A
Tenantsin situcurrently generating an approximate annual gross rental income of 33,600 (with the potential for this to increase).
It is very rare that apartment blocks in this area come to the market for sale and when they do there is a huge amount of interest in them. Call to arrange a viewing as soon as possible to avoid missing out on it.
Please contact Kingswood.
Fulwood Office:
01772 717181
77 Watling Street Road, Fulwood, Preston, PR2 8EA
[email protected]
www.kingswoodproperties.co.uk
Disclaimer:
These particulars, whilst believed to be correct, do not form any part of an offer or contract. Intending purchasers should not rely on them as statements or representation of fact. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements quoted are approximate. Although these particulars are thought to be materially correct their accuracy cannot be guaranteed and they do not form part of any contract.
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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