212 Albany Road, Roath, Cardiff, CF24 3RY

Description

An opportunity to purchase a traditional bay fronted semi-detached house which has been converted into 2 spacious two-bedroom apartments. The apartments benefit from off road parking, gas central heating and double-glazed fenestration. Minor upgrading is required, and they could also be re-configured to suit. The properties are suitable for letting, or alternatively, the title could be split and sold separately, with the possibility of converting the property back to one single dwelling, subject to all usual consents. The adjoining semi-detached property, 214 Albany Road, is also being sold and is converted into 2 apartments.

Accommodation

Ground Floor Communal Hallway to both apartments. Ground Floor Apartment: hallway, two bedrooms, lounge, kitchen, shower room. First Floor Apartment: stairs to first floor, landing, lounge open plan to kitchen, two bedrooms, bathroom, separate W.C.

Location

Located in a popular location, close to local shops, eateries, boutiques, schools and other amenities. Within walking distance are Waterloo Gardens and Roath Park, along with Cardiff Metropolitan University Cyncoed Campus and Cardiff City Centre, all within easy reach.

Tenure / Property Information

Investment Analysis

The £275,000 guide is not supported by a current completed-sale valuation in the supplied evidence. The only comparable is 208 Albany Road, with historical sales of £173,000 and £47,000 for a flat/maisonette in 2007 and 1997; these are not reliable current evidence for this freehold property converted into two apartments. Current GDV, refurbishment cost and separate-sale values cannot be established from the evidence supplied. The 1.5% administration charge would be £4,125 at the £275,000 guide, before any other unspecified costs.

Investment Snapshot

Strategy Recommendation

Do not proceed on the guide price alone. Obtain current valuations for both apartments, a detailed building and compliance inspection, and legal confirmation of the existing conversion before considering a tightly limited bid. Subject to that evidence, letting appears more straightforward than relying on title splitting or reconfiguration.

Works Required

Minor upgrading is stated to be required, but the evidence does not specify the works or their cost. Confirm the condition of both apartments, communal areas, kitchens, bathrooms, heating, glazing, electrics and any required compliance works before bidding. Any reconfiguration, title split or conversion back to one dwelling would require confirmation of all usual consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost, supported rent and total acquisition costs are unavailable. Refinancing at 75% of GDV cannot be quantified. Confirm the legal status and compliance of the two-apartment conversion, together with lending acceptability, before relying on this strategy.

Buy-to-Let Analysis

The property is described as suitable for letting, but the rental evidence is insufficiently specific to establish a supported rent for two separate two-bedroom apartments. The £2,200 pcm listing is for a four-bed property and the £1,800 pcm listing does not provide enough detail to confirm comparability. A reliable gross yield cannot therefore be calculated.

Flip Analysis

A flip assessment cannot be completed because there is no current GDV, separate apartment valuation, detailed works schedule or supported selling-cost allowance. Historic same-road flat sales are too old to establish resale value. The possibility of title splitting or reverting to one dwelling also requires confirmation of the necessary consents.

Investor Risks & Due Diligence

• The existing two-apartment conversion and any proposed reconfiguration or title split may require planning, building-regulation or other consents.

• No detailed condition report or quantified refurbishment allowance is supplied despite minor upgrading being required.

• The rental evidence is not directly matched to two separate two-bedroom apartments, so rental income and yield are uncertain.

• The only supplied comparable sales are historic 1997 and 2007 flat/maisonette transactions and may not reflect current value.

• Additional buyer, seller-cost reimbursement, legal, transfer and other fees are unspecified.

• EPC rating D may affect letting, financing or future improvement requirements.

Recommendation

Do not proceed on the guide price alone. Obtain current valuations for both apartments, a detailed building and compliance inspection, and legal confirmation of the existing conversion before considering a tightly limited bid. Subject to that evidence, letting appears more straightforward than relying on title splitting or reconfiguration.

Strategy Rating

Analysis Confidence

The property description and tenure are clear, but there is no current GDV evidence, no quantified works allowance, no directly comparable rent for the two apartments, no auctioneer rent estimate and no complete fee schedule.