3 bedroom apartment for sale

£235,000

3

Bedrooms

Floorplan

Located on Hollins Road, Harrogate, this well-presented first-floor apartment, listed for sale with no onward chain offers a fantastic opportunity for a variety of buyers, from first-time buyers to investors, downsizers, and families alike. Boasting three generous double bedrooms, this property provides ample living space in a sought-after location, less than a mile from the bustling Harrogate town centre.

The local area offers a wealth of amenities, including mature woodlands, parks, and a leisure centre, as well as the highly regarded Coppice Valley Primary School. The popular Kings Road, with its array of independent shops, restaurants, and cafs, is within walking distance, adding to the appeal of this fantastic location.

With large windows throughout, the apartment enjoys a light and airy ambiance. The neutral dcor and modern grey carpets offer a blank canvas.

Entering the apartment via its private entrance there is a small internal hallway, with stairs to the first floor.

The generously sized living room offers ample space to both socialise, dine and unwind at the end of the day.

The separate kitchen offers a range of wall & base units, freestanding cooker, undercounter white goods and washing machine. The kitchen houses the recently fitted gas combi boiler.

With three well proportioned, double - bedrooms, the apartment has lots of flexible space on offer.

The house bathroom has been fitted with a modern, white three-piece suite, shower over bath vanity unit and benefits from a central heating radiator.

Externally the apartment benefits from a single garage, offering options for parking or storage. There is further on street, parking to the front of the property.

Please note the photographs within this listing were taking ahead of the current tenancy, which expires in March 2025.

We understand the property is of leasehold tenure, with 999 years remaining of a 999 year lease starting in January 2025. We have been advised that a 50% share of the Freehold comes with the purchase of the apartment. The current arrangements stipulate that any maintenance costs are to be split 50/50 with the ground floor apartment.

There are no restrictions regarding letting the property on an Assured Short Hold basis. We estimate the rental income to be in the region of 995 PCM.

Council tax band :C

The property is serviced by mains electricity, gas and water services.

Broadband availability: Fibre to the premises, with estimated speeds of 1600Mbps

Mobile phone coverage: O2, Vodafone, Three & EE

Satellite & Cable TV Availability: SKY, BT & VIRGIN

Flood Risk: Rivers & Seas - No Risk Surface water- Very Low

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

£ 184825

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
    £ 5875
  • 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

£ 8575
  • 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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