301 North Road West, Plymouth, Devon PL1 5DJ

Description

A vacant property arranged as three one-bedroom flats, in a popular rental area of Plymouth. Each flat requires renovation throughout and comprises a living room, kitchen, double bedroom and bathroom. The property is located close to the city centre, train station and university. A great rental purchase opportunity.

Accommodation

Three one-bedroom flats; each flat comprises a living room, kitchen, double bedroom and bathroom.

Location

Located close to the city centre, train station and university in Plymouth, in a popular rental area.

Tenure / Property Information

Investment Analysis

Nearby completed sales range from £155,000 to £240,000, but these are terraced-house comparables and are not sufficiently specific to a property arranged as three renovated one-bedroom flats. A reliable GDV cannot therefore be established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Obtain legal, planning and building-status confirmation for the three flats, plus detailed refurbishment costs and rental evidence, before bidding. Do not underwrite on the supplied figures alone.

Works Required

Renovation throughout each of the three flats, including the living rooms, kitchens, bedrooms and bathrooms. The required scope and costs are not quantified in the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The three-flat configuration and stated renovation requirement may suit a refurbishment-led refinance, but GDV, works cost and achievable rents are unsupported. BRRR viability cannot be quantified.

Buy-to-Let Analysis

The property is vacant and described as being in a popular rental area, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. BTL yield and rental coverage cannot be established.

Flip Analysis

A flip assessment cannot be reliably calculated because the comparable sales are not specific to the three-flat arrangement and no refurbishment or selling-cost allowance is supplied.

Investor Risks & Due Diligence

• Renovation is required throughout all three flats.

• No sufficiently specific rental evidence or passing rent is supplied.

• Available sold comparables are terraced houses rather than clearly comparable three-flat properties.

• Additional disbursements and other legal-pack costs may be payable.

• The financial impact of the three-flat configuration cannot be assessed without further evidence.

Recommendation

Obtain legal, planning and building-status confirmation for the three flats, plus detailed refurbishment costs and rental evidence, before bidding. Do not underwrite on the supplied figures alone.

Strategy Rating

Analysis Confidence

The evidence confirms the configuration, vacancy and renovation requirement, but lacks specific GDV comparables, rental evidence, refurbishment costs and complete purchaser costs.