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£1,600,000
Bedrooms
Bathrooms
FREEHOLD 1,400,000.00
ALL FLATS FULLY FURNISHED WITH TENANTS
A GREAT INVESTMENT,DUE TO THE CURRENT CLIMATE, HAS BEEN REDUCED SUBSTANTIALLY
- Double Glazed
- Gas Central Heating
- Fully furnished
- All tenanted
- 14 Self contained flats & 1 Commercial Unit
- Established residential/commercialarea of Luton, Beds
- Luton mainline Railway within 1 mile
- 1 miles off Junction 10 of M1 Motorway
- walking distance to Luton mall and Bury Park
Ultimate Connexions is pleased to present house converted into 14 self contained flats. Within minutes of M1 Junction 10, and within walking distance of Luton Town Centre, which provide all local amenities.
The flats are of moderate size and character, with carpeted and wood flooring. All of the flats have their own bathrooms, which are generally of good size and currently have electric showers.
All flats are currently rented to long-term tenants.
Current rental rates for the flats are between : 450.00 and 1200pcm
Total rental per month:- 9095.00 Per Month / Yearly income of 109,140.00PA .
Rental figures stated are current rents being achieved on this block of flats now.
SALE TERMS
FOR SALE: 1,400,000.00
TENURE: Freehold
EPC RATING
59 Castle Street 6 x Studio Flats and 3 x 1 Bedroom Flat
Flat 1 - EPC ? rating 31.5sqm (1bed) rented at 500pcm
Flat 2 - EPC C rating 23.5sqm (studio) rented 525pcm
Flat 3 - EPC E rating 21sqm (studio) rented at 525pcm
Flat 4 - EPC D rating 32.5sqm (1bed) rented at 450pcm
Flat 5 - EPC D rating 14sqm (studio) rented at 500pcm
Flat 6 - EPC D rating 25sqm (studio) rented at 495pcm
Flat 7 - EPC C rating 34.5sqm (1 Bed) rented at 555pcm
Flat 8 - EPC D rating 18sqm (studio) rented at 495pcm
Flat 9 - EPC D rating 20.5sqm (studio) rented at 495pcm
61 Castle Street 1 x commercial shop 2 x Studio Flats 2 x 2 bedroom flats, 1 x 3 bedroom flat
Commercial Unit
Rateable Value: 3900.00
Base Rate 200.00
Shop rent: 525pcm 23sqm
Flat 1 - EPC C rating 23.5sqm (studio) rented at 500pcm
Flat 2 - EPC D rating 46.27sqm (2 bed) rented at 900pcm
Flat 4 - EPC C rating 46.27sqm (2 bed) rented at 900pcm
Flat 7 - EPC C rating 85.55sqm (3 bed) rented at 1200pcm
Basement Flat - EPC D rating 27sqm - (studio) rented at 550pcm
Map location is not available for this property.
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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