3 bed Flat For Sale £485,000
Property Reference number : 755034
3 bedrooms, living room, kitchen, 2 bathrooms (1 of which is en suite), and a canal side balcony shared between the en-suite bedroom and the living room. Off street parking and concierge.
Located in Limehouse Basin, residents of this apartment enjoy an idyllic and tranquil local area with river walks along the Thames 5 min away. At the same time, the bank area of the city and Canary Wharf, both major employment hubs, are less than 20 min commute door-to-door via the Docklands Light Railway.
The property is currently fully tenanted (2-month notice).
The property can also be taken over fully tenanted and fully managed. Ideal for an investor who does not wish to be involved in the day to day. All aspects of the property are currently managed on a budget allocated from the rent collected.
Gross income on current tenancy agreements is £44,640 pa and a gross yield of 9.2%. All operating expenses (including management) total £18,970 pa which leaves £25,670 net income and 5.3% net yield pa. Recommend upgrades and renovation carried out for around £9000 would increase annual net income by around £4,140 and net yield to 6.1%.
Operating expenses (Annually)
Household bills and upkeep; £5640
Management fees; £7020
Turnover costs; £240
Maintenance; £750
Inventory and decor; £350
Service charge; £4400
Ground rent; £450
HMO License; £120
Leashold; 975 years remaining
Council tax band F; £2196/year
Council Tax: F
Current Annual Ground Rent: £450.00
Current Annual Service Charge: £4,400.00
Current Length Of Lease Remaining: 975 Years
Warning: Never transfer funds to a property owner before viewing the property in person. If in doubt contact the marketing agent or the Citizens Advice Bureau.
Gdpr: Submitting a viewing request for the above property means you are giving us permission to pass your contact details to the vendor or landlord for further communication related to viewing arrangement, or more information related to the above property. If you disagree, please write to us within the message field so we do not forward your details to the vendor or landlord or their managing company.
Viewing Disclaimer: Cocoon endeavour to ensure the sales particulars of properties advertised are fair, accurate and reliable, however they are not exhaustive and viewing in person is highly recommended. If there is any point which is of particular importance to you, please contact Cocoon and we will be pleased to check the position for you, especially if you are contemplating traveling some distance to view the property.
Property Reference number : 755034
3 bedrooms, living room, kitchen, 2 bathrooms (1 of which is en suite), and a canal side balcony shared between the en-suite bedroom and the living room. Off street parking and concierge.
Located in Limehouse Basin, residents of this apartment enjoy an idyllic and tranquil local area with river walks along the Thames 5 min away. At the same time, the bank area of the city and Canary Wharf, both major employment hubs, are less than 20 min commute door-to-door via the Docklands Light Railway.
The property is currently fully tenanted (2-month notice).
The property can also be taken over fully tenanted and fully managed. Ideal for an investor who does not wish to be involved in the day to day. All aspects of the property are currently managed on a budget allocated from the rent collected.
Gross income on current tenancy agreements is £44,640 pa and a gross yield of 9.2%. All operating expenses (including management) total £18,970 pa which leaves £25,670 net income and 5.3% net yield pa. Recommend upgrades and renovation carried out for around £9000 would increase annual net income by around £4,140 and net yield to 6.1%.
Operating expenses (Annually)
Household bills and upkeep; £5640
Management fees; £7020
Turnover costs; £240
Maintenance; £750
Inventory and decor; £350
Service charge; £4400
Ground rent; £450
HMO License; £120
Leashold; 975 years remaining
Council tax band F; £2196/year
Council Tax: F
Current Annual Ground Rent: £450.00
Current Annual Service Charge: £4,400.00
Current Length Of Lease Remaining: 975 Years
Warning: Never transfer funds to a property owner before viewing the property in person. If in doubt contact the marketing agent or the Citizens Advice Bureau.
Gdpr: Submitting a viewing request for the above property means you are giving us permission to pass your contact details to the vendor or landlord for further communication related to viewing arrangement, or more information related to the above property. If you disagree, please write to us within the message field so we do not forward your details to the vendor or landlord or their managing company.
Viewing Disclaimer: Cocoon endeavour to ensure the sales particulars of properties advertised are fair, accurate and reliable, however they are not exhaustive and viewing in person is highly recommended. If there is any point which is of particular importance to you, please contact Cocoon and we will be pleased to check the position for you, especially if you are contemplating traveling some distance to view the property.
Property Reference number : 755034
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