214 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, benefiting from gas central heating and double-glazed fenestration. The properties are suitable for letting, or alternatively, the title could be split and sold separately, with also the possibility of converting the property back to one single dwelling, subject to all usual consents. The adjoining semi-detached property at no. 212 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/diner, kitchen and bathroom. First Floor Apartment: stairs to first floor, landing, lounge, kitchen/diner, two bedrooms and bathroom. Outside: front forecourt with garden to the rear.

Location

Popular location close to local shops, eateries, boutiques, schools and other amenities. Waterloo Gardens and Roath Park, Cardiff Metropolitan University Cyncoed Campus and Cardiff City Centre are within easy reach.

Tenure / Property Information

Investment Analysis

The £275,000 guide is not supported by a current completed-sale comparable. The only supplied sales for 208 Albany Road total £220,000, but they date from 1997 and 2007 and relate to flat/maisonette transactions, so they are not reliable evidence of current value for this freehold property containing two apartments. Current GDV, refurbishment cost and a prudent maximum bid cannot be established from the evidence supplied.

Investment Snapshot

Strategy Recommendation

Conditional buy-to-let consideration only after legal-pack, survey, conversion-compliance and rent verification. Do not rely on a split-sale or conversion-back strategy without confirmed consents, costs and current valuations.

Works Required

No specific refurbishment defects or works are evidenced. Before bidding, verify the condition of both apartments, gas and electrical documentation, EPC compliance, fire-safety arrangements, conversion/planning status, title structure and any required remedial works through the legal pack and survey.

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 no current GDV, supported refurbishment budget or reliable refinance valuation is supplied. The 75% GDV refinance amount and cash left in are therefore unavailable. The two-apartment configuration, title position and legal compliance should be confirmed before considering this strategy.

Buy-to-Let Analysis

The supplied Albany Road listing indicates an advertised asking rent of £1,800 pcm, producing £21,600 annually and an indicative gross yield of 7.85% against the £275,000 guide. The listing is not expressly confirmed as this property or as the combined two-apartment accommodation, and the yield excludes finance, management, maintenance, voids, insurance, tax and auction costs. Passing rent is not evidenced.

Flip Analysis

A flip surplus cannot be calculated because there is no current resale GDV, refurbishment allowance or supported selling-cost allowance. The option to split the title and sell separately, or convert back to one dwelling, is subject to consents and is not evidenced as currently available.

Investor Risks & Due Diligence

• The £1,800 pcm figure is an advertised asking rent and is not confirmed as applying to this property or as achieved rent.

• The two-apartment conversion, title structure and any required planning, building-regulation or fire-safety consents are unverified.

• Buyer premium and other legal, search, transfer and seller-cost reimbursements may be payable but are not quantified.

• No condition survey or refurbishment budget is supplied.

• The 1997 and 2007 comparable sales are historic flat/maisonette transactions and do not establish current value.

• Void, management, maintenance, insurance, finance and taxation costs are excluded from the indicative gross yield.

Recommendation

Conditional buy-to-let consideration only after legal-pack, survey, conversion-compliance and rent verification. Do not rely on a split-sale or conversion-back strategy without confirmed consents, costs and current valuations.

Strategy Rating

Analysis Confidence

The property description, tenure, guide price, one advertised rent and auction charges are supplied, but there is no current comparable evidence, confirmed passing rent, GDV, condition report, refurbishment budget or completed conversion/title information.