Latest Valuation
£62,500
Yield
11.9%
Selling Agent
Sourced Uxbridge

36% BMV – Buy and Hold or Refinance Flat in Birkenhead

1 bedroom apartment in a popular location
Guide Price
£40,000

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Key Features

  • 36% BMV
  • Hands-Off

The Property

This profitable investment opportunity consists of a 1 bedroom apartment, located in a popular location of Birkenhead. The flat is within a gated development with off-road parking.

This 1 bedroom flat is currently let for £385 pcm on an unfurnished basis. The property, in brief, benefits from a spacious lounge area a modern fitted kitchen, one large double bedroom and a bathroom with a white three-piece suite.

Ground rent is £200 per annum. Service charge is £895 per annum. 100 years on lease.

Our suggested plan would be to buy this property BMV and hold or refinance against GDV and either hold for yield or sell for profit.

Planning Information

N/A

The Plan

Our suggested plan would be to buy this property BMV and hold or refinance against GDV and either hold for yield or sell for profit.

The Financials:

GDV: £62,500
Purchase price: £40,000
Legals: £1,000
SDLT £1,200
Sourcing fee: £3,000
Renovation: £0

TOTAL COST / CASH BUYER £45,200

In the current climate, ideally for cash buyers only.

Cashflow:
Gross rental per annum: £5,400 pa / £450 per month

Yield and ROCE: 11.9%

The Location

Located close to local amenities and is close to excellent primary and secondary schools.

Local amenities:
Rock Ferry 0.5 miles
Green Lane 1 miles
Bedford Drive Primary School 0.2 miles
Prenton High School for Girls 0.3 miles

Average estimated value for a house in CH42

£66,990

14% last 5 years postcode house price growth.