House For Sale £610,000
Buy as a family house or as an investment (To rent with current tenant) or development (Plans to convert to 3 flats) - This property offers the buyer several options.
The house is currently set up as a 4 bedroom 2 bathroom home which is let out and achieving £2795pcm (that's £33,540pa) giving a yield of 4.7% based on the advertised sales price.
Notice would need to be served in line with the terms of the current tenancy agreement should the buyer require the tenants to vacate.
The property also has planning permission granted to convert to 3 good sized flats - On the ground floor a 3 bedroom, 2 bathroom flat with rear terrace - On the first floor a 2 bedroom, 2 bathroom flat with a balcony - and on the top floor a 1 bedroom flat with a balcony.
Development options - Should the buyer be interested in the development aspect then here are some numbers which may be of interest.
Example: Purchase price £700,000, Conversion costs to 3 flats approx. £350,000, so that's approx. £1,050,000. The GDV is thought to be in the region of £1,400.000 - potential profit approx. £350,000.
Maintained in good decorative order and nicely presented throughout, this family house has southerly aspect views over Norbury Park.
Streatham Common and The Rockery are not far away. Norbury station is close by as are a good selection of shops and schools.
Council Tax Band: E
Tenure: Freehold
The house is currently set up as a 4 bedroom 2 bathroom home which is let out and achieving £2795pcm (that's £33,540pa) giving a yield of 4.7% based on the advertised sales price.
Notice would need to be served in line with the terms of the current tenancy agreement should the buyer require the tenants to vacate.
The property also has planning permission granted to convert to 3 good sized flats - On the ground floor a 3 bedroom, 2 bathroom flat with rear terrace - On the first floor a 2 bedroom, 2 bathroom flat with a balcony - and on the top floor a 1 bedroom flat with a balcony.
Development options - Should the buyer be interested in the development aspect then here are some numbers which may be of interest.
Example: Purchase price £700,000, Conversion costs to 3 flats approx. £350,000, so that's approx. £1,050,000. The GDV is thought to be in the region of £1,400.000 - potential profit approx. £350,000.
Maintained in good decorative order and nicely presented throughout, this family house has southerly aspect views over Norbury Park.
Streatham Common and The Rockery are not far away. Norbury station is close by as are a good selection of shops and schools.
Council Tax Band: E
Tenure: Freehold
