3 bedroom apartment for sale

£410,000

3

Bedrooms

1

Bathrooms

Floorplan

Stepney Court is a popular modern purpose-built block within a few minutes from Brighton Station in the New England Quarter. This area is hugely popular with professionals keen to take advantage of Brighton Station with access to Brighton to London train services, superb bus links and the city centre. Situated near the local amenities with a wide range of cafes, shops to include Sainsburys and bars on popular London road and North lanes of Brighton.

The apartment which has had one owner is situated on the first floor with access from the ground floor communal area by either a lift or stairs in this well-maintained block with access via a secure entry phone system.The apartment offers spacious living with a L shaped hallway giving access to all rooms. The main feature of the property is a light and airy large open plan modern Kitchen and living area with access to a south westerly balcony. The property has 3 bedrooms with 2 double rooms and 1 single room, storage cupboard, fully fitted bathroom suite and a separate WC. Outside the property you have access to a courtyard with access to a elevated communal roof terrace with seating area and partly covered with views overlooking Brighton. Viewings are highly recommended.

Resident permit parking on streets nearby only. Potential buyers need to contact Brighton Council regarding availability and costs. No parking on site available.

The owner informs us that property has over 130 years left on the lease and service charges of 370 per month which includes water. Please note that any information provided by the owner can be verified with your solicitor. Rental potential at 1650 to 1700pcm with a rental yield of between 4.8% to 5%.

PROPERTY DETAILS Communal entrance accessed by entry phone system and opening to either stairs or lift to first floor.

L-shaped Entrance Hallway - electric wall mounted radiator, entry phone system, wooden flooring, 2 fitted cupboards with one housing plumbing for washing machine. Access to all rooms in apartment

Open plan Kitchen/ Living area - Spacious room with double glazed windows and door leading to south westerly balcony, radiator, space for table and chairs. Wooden flooring. Spotlights

Fitted Kitchen area - Range of wall and floor mounted units with rolled edged worksurfaces and tiled walls and floor. Space for electric oven with fitted electric extractor fan over, space for fridge/freezer.

Bathroom - Fully tiled fitted bathroom comprising of panelled bath with storage area built in below bath, electric shower over, fitted sink in cupboard unit, electric shower rail, wall mounted electric Dimplex heater, fitted mirrored cupboards. Frosted window to side.

Separate WC - Comprising of WC, sink with fitted cupboards and full tiled.

Bedroom 1 - Spacious double room with wall mounted electric radiator , wooden flooring and double glazed window to front.

Bedroom 2 - Spacious double room with wall mounted electric radiator, wooden flooring and double glazed window

Bedroom 3 - Single bedroom with wall mounted electric radiator, wooden flooring and double glazed window.

Outside

The property is approached by a inner courtyard with access to the communal entrance and also access to the communal garden terrace which is elevated with seating area and partly covered. Views across Brighton.

Identification checks Should a purchaser have an offer accepted on a property marketed by Martin & Co, they will need to undertake an identification check. This is done to meet our obligation under Anti Money Laundering Regulations (AML) and is a legal requirement. We use an online service to verify your identity provided by HIPLA. The cost of these checks is 50 inc. VAT per purchase which is paid in advance, directly to HIPLA. This charge is non-refundable under any circumstances.

Features
  • Freehold

Nearest Stations:

0.3 miles
London Road Brighton
0.47 miles
Brighton
1.11 miles
Moulsecoomb
1.32 miles
Preston Park
1.67 miles
Hove

Map location is not available for this property.

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

£ 340950

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

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
    £ 10250
  • 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

£ 33450
  • 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

Adjust these figures

  %
  %
£
  %

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

Adjust these figures

  %

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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