16 Althea Street, Fulham, London

Description

Vacant self-contained ground floor flat comprising a bedroom, reception room, kitchen and bathroom. Features include a rear garden and a new 250-year lease.

Accommodation

Ground floor: bedroom, reception room, kitchen and bathroom.

Location

The property is situated on the north east side of Althea Street, to the south east of its junction with Stephendale Road. Shops and amenities are located along Fulham Road to the north west. Parsons Green Underground Station (District Line) is approximately 1 mile to the north west. York Road (A3205) is to the south east. South Park is to the west.

Tenure / Property Information

Investment Analysis

The most relevant evidence is 6A Althea Street, a leasehold flat sold for £440,000 in October 2024. The other Althea Street sales are materially older and/or higher priced, so they provide limited current valuation support. A base GDV of £440,000 is used cautiously as an indicative reference only. The auction guide, condition, service charge, lease terms beyond the stated new lease and transaction charges are unavailable.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR candidate subject to inspection, legal review and a purchase price that remains attractive after all costs. Do not bid without the guide, special conditions, fees, service-charge information and verified rental appraisal.

Works Required

No specific defects or required works are evidenced. Allowance cannot be estimated without inspection. Confirm the condition of the kitchen, bathroom, finishes, services, windows, garden and compliance items before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative £440,000 GDV would be approximately £330,000. Cash left in cannot be calculated because the guide price, refurbishment budget and buyer or administrative costs are unavailable. The new 250-year lease at peppercorn ground rent is potentially supportive, but lease and title terms should be verified.

Buy-to-Let Analysis

Advertised asking rents for one-bedroom properties in the wider Fulham/SW6 evidence range from £2,250 to £2,690 pcm, equivalent to £27,000 to £32,280 annually. Against the indicative £440,000 GDV this implies approximately 6.14% to 7.34% gross, before costs and voids. Achieved rent, service charge, tax and the purchase price are not evidenced, so the return on acquisition cost cannot be established.

Flip Analysis

A flip assessment cannot be completed reliably because there is no auction guide, refurbishment budget, acquisition-cost information or supported selling allowance. The £440,000 base GDV is based principally on one recent same-street sale and should not be treated as a formal resale valuation.

Investor Risks & Due Diligence

• Auction guide price is unavailable, preventing a maximum-bid and acquisition-cost calculation.

• No condition survey or refurbishment cost evidence is provided.

• Rental figures are advertised asking rents rather than achieved rents and are not confirmed for this specific flat.

• Buyer premium, administration charges and other seller or third-party fees are unspecified.

• Service charge, insurance, council tax, EPC, parking and heating information are unavailable.

• The GDV relies principally on one recent comparable and is not a formal valuation.

• Special Conditions of Sale and addendum may contain additional obligations or costs.

Recommendation

Potential BTL or BRRR candidate subject to inspection, legal review and a purchase price that remains attractive after all costs. Do not bid without the guide, special conditions, fees, service-charge information and verified rental appraisal.

Strategy Rating

Analysis Confidence

There is one recent same-street sale, three asking-rent references and clear tenure and occupancy information, but the guide price, condition, works, fees, service charge, EPC and several legal and property details are missing.