Flat 1, 67 Elthorne Avenue, Hanwell, London

Description

Vacant long leasehold self-contained ground floor flat with a reception room, two bedrooms, kitchen, bathroom and rear garden. GIA approximately 59.17 sq m (637 sq ft).

Accommodation

Reception Room, Two Bedrooms, Kitchen, Bathroom; rear garden; GIA approximately 59.17 sq m (637 sq ft)

Location

Located on the northern side of Elthorne Avenue. The shops and amenities of Northfield Avenue are to the east. Boston Manor underground station (Piccadilly line) is approximately 0.8 miles to the south. The M4 motorway is to the south and Elthorne Park is to the south west.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Elthorne Avenue range from £525,000 to £565,000 for leasehold flats, but the sales date from 2020–2022 and no comparable sizes, bedroom counts or condition details are provided. A provisional GDV range of £525,000–£565,000 is therefore used, with £546,200 as the base reference, subject to substantial uncertainty and current-market verification.

Investment Snapshot

Strategy Recommendation

Treat as a conditional value opportunity rather than an income-led BTL. Obtain a survey, current comparable evidence, rent appraisal and full auction-cost schedule before bidding; do not rely on the provisional GDV or the single rental listing.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspect the flat, kitchen, bathroom, services, finishes and rear garden before bidding and undertake only works confirmed as necessary.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional base GDV, 75% refinancing would be approximately £409,650. However, refurbishment costs, purchase costs, finance costs and actual achievable rent are unavailable, so total project cost and cash left in cannot be calculated reliably. The strategy should not proceed without inspection, costings and finance confirmation.

Buy-to-Let Analysis

Using the single advertised asking rent of £500 pcm, annual rent is £6,000 and gross yield on the £232,000 guide is approximately 2.59%. This is weak for a BTL purchase, and the rent evidence is limited to one asking listing rather than achieved rent. Net yield cannot be established because finance, service charge, insurance, maintenance, management and other costs are not supplied.

Flip Analysis

The supplied historic Elthorne Avenue sales indicate potential resale values between £525,000 and £565,000, but they are not sufficiently detailed or current to establish a reliable GDV. No refurbishment allowance, buyer costs, finance costs or selling allowance is supplied, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Historic comparable sales may not represent the current value of this 59.17 sq m flat.

• Only one advertised asking rent of £500 pcm is supplied; achieved rent and letting demand are unverified.

• No condition report or refurbishment cost evidence is provided.

• Buyer premium, admin charge and other potential seller or third-party fees are unspecified.

• Service charge, insurance, council tax and other leasehold costs are not supplied.

• The guide is stated as £232,000+ and the eventual auction purchase price is uncertain.

Recommendation

Treat as a conditional value opportunity rather than an income-led BTL. Obtain a survey, current comparable evidence, rent appraisal and full auction-cost schedule before bidding; do not rely on the provisional GDV or the single rental listing.

Strategy Rating

Analysis Confidence

There are several completed sales on the same avenue and one advertised rent, but the sales are historic and lack comparable detail. Condition, EPC, council tax, service charge, buyer/admin fees, refurbishment costs and current achieved rent are not supplied.