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£100,000
Bedrooms
Bathrooms
Reception
ATTENTION INVESTORS!!! A great investment opportunity has come to the market which is producing great rental income. A stunning two double bedroom apartment within the Light Buildings complex. The apartment is situated on the ground floor with a balcony. Call now to avoid disappointment.
An opportunity to purchase thisground floor City Centertwobedroom apartment in the heart of Preston.The property offers open plan living and benefits from intercom entry system and electric heating.The property is well presented throughoutand ready to move in. The property will appeal to a range of home buyers including first time buyers, young couple and investors.
The accommodation comprises entry hallway with a store cupboard, spacious lounge, dining area,kitchen, two spacious double bedrooms and bathroom with shower over the bath.In addition the property benefits from a balcony. The balcony is accessed via patio doors from the lounge.This is agreat property. Viewing is highly recommended.
The property is situated in the heart of Preston City Centre, close to local amenities and transport facilities. Literally a stone throw away from Uclan and walking distance to city centre.
The rental income which is being achieved on this property is 11,400 per annum. The property has a tenant in situand can be sold on a vacant possession.
This is a leasehold property.
Lease remaining: 110 Years approx
Service charge: 2,000.00 per annumapprox
Ground rent: 250.00 per annumapprox
Council tax band: B
EPCrating: C
Please contact Kingswoodon:
City Office: 01772 886555
11 LuneStreet, Preston, PR1 2NL
FulwoodOffice: 01772 717181
77 WatlingStreet 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.
Entrance Hallway
Entrance door, Ceiling light points, Smoke alarm, Electric wall heater and carpet
Lounge/Kitchen 3.91 x 7.25 m (1210 x 239 ft)
UPVC double glazed double doors leading to balcony, Electric wall heater, TV point, Ceiling light point, Wall and base units in kitchen area, Lino flooring, Smoke alarm, Electric hob and oven, Intercom system, Cooker hood, Ceiling light point.
Bedroom One 2.54 x 3.81 m (84 x 126 ft)
Double glazed window, Carpet, Electric wall heater and Ceiling light point.
Bedroom Two 3.40 x 3.30 m (112 x 1010 ft)
Double glazed window, Carpet, Ceiling light point and Electric wall heater.
Bathroom 2.80 x 3.30 m (92 x 1010 ft)
Double glazed window, Low level W/C, Sink basin, Towel heater, Bath tub with over head shower, Tiled walls and floor.
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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