19 Carter Street, Sandown, Isle of Wight

Description

Three-storey freehold former guest house currently arranged as four flats, with potential for further sub-division of the ground floor, a generous plot and car parking. The property is situated a short distance from the centre of Sandown, shopping amenities, the sandy beach and seafront. It was converted from a guest house to provide a large ground floor flat, two first-floor flats and a second-floor flat. The ground floor apartment may have scope for subdivision, subject to obtaining all required consents. Prospective purchasers may also consider other uses or site redevelopment.

Accommodation

Ground floor: entrance lobby, entrance hall, living room, kitchen, bathroom with W.C., three further rooms, cloakroom with W.C., conservatory and additional store room. First floor: two studio flats, each with entrance hall, bedroom/living room, kitchen and shower room with W.C. Second floor: entrance hall, living room, kitchen, shower room and bedroom.

Location

A short distance from the centre of Sandown with shopping amenities, sandy beach and seafront nearby.

Tenure / Property Information

Investment Analysis

The £220,000+ guide is the only supplied pricing evidence. No completed sales, formal valuation, auctioneer GDV or suitable achieved rental evidence has been provided, so GDV, market value, yield and maximum bid cannot be reliably estimated. The property comprises four flats, but occupancy and income details are incomplete. Buyer premium, administration fees and other purchase costs are also unspecified.

Investment Snapshot

Strategy Recommendation

Treat as a due-diligence-led multi-unit acquisition only. Do not rely on the guide price, subdivision potential or projected rental income until the tenancy, occupancy, legal configuration, condition, consents and full purchase costs are verified.

Works Required

Confirm the legal status and configuration of all four flats, inspect the property, verify services and fire-safety arrangements, and address any identified defects. Consider only the potential ground-floor subdivision after obtaining all required consents. Review the second-floor flat’s EPC F rating and assess whether improvement works are required. No costed works can be supported from the evidence.

Rental & Market Context

Potential BRRR Position

BRRR viability cannot be calculated without a supported GDV, rent schedule, refurbishment budget, finance costs or confirmed purchase fees. The property may offer multiple-unit income potential, but the top-floor tenancy, other occupancy, configuration, EPC F rating and any required consents must first be verified.

Buy-to-Let Analysis

A BTL assessment cannot be completed because passing rent is not supplied, the occupancy of three flats is unstated and the only rental evidence is a £1,050 pcm advertised asking rent for a house in Apse Heath, which is not sufficient evidence for these four flats in Sandown. The top-floor tenancy terms and current rent should be verified. Council Tax is stated as Band A for each flat.

Flip Analysis

A flip analysis is unsupported because there are no completed comparable sales, formal GDV, quantified works, resale costs or buyer costs. Potential subdivision, alternative use and redevelopment are described only as possibilities and require investigation and consents.

Investor Risks & Due Diligence

• Occupancy of the three flats other than the top-floor flat is not stated.

• The top-floor tenancy is identified but its passing rent, deposit, arrears and other terms are not supplied.

• Ground-floor subdivision is only potential and is subject to all required consents.

• Alternative uses and site redevelopment are unconfirmed and require consents.

• The second-floor flat has an EPC rating of F.

• Buyer premium, administration charges and other non-optional purchase costs are unspecified.

• No condition report, refurbishment budget, completed comparable sales or formal GDV is supplied.

• The rental evidence is an advertised asking rent for a house in Apse Heath and does not establish achievable rents for these flats in Sandown.

Recommendation

Treat as a due-diligence-led multi-unit acquisition only. Do not rely on the guide price, subdivision potential or projected rental income until the tenancy, occupancy, legal configuration, condition, consents and full purchase costs are verified.

Strategy Rating

Analysis Confidence

The evidence confirms the broad building arrangement, tenure and one tenancy, but omits achieved rents, rents for the flats, occupancy details, sold comparables, condition costs, GDV, buyer fees and key legal and compliance information.