Flat 24, 341A London Road, Mitcham, Surrey, CR4 4BE

Description

A Third Floor One Bedroom Flat. The property comprises a third floor one bedroom flat situated within a purpose built building arranged over ground and four upper floors.

Accommodation

Third Floor: Open Plan Reception/Kitchen; Bedroom; Bathroom

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Morden Hall Park are within easy reach. Transport links are provided by Tooting rail station.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-address leasehold flat sale at £216,000 on 14 April 2026. A nearby comparable at 337 London Road sold for £210,000, supporting an evidence-led value range of approximately £210,000–£216,000. The higher £275,000–£350,000 sales at 341D lack bedroom, size and specification details and are not relied upon. The £160,000 guide is below the supported comparable range, but total acquisition cost remains uncertain because search, seller, legal and transfer fees are unspecified.

Investment Snapshot

Strategy Recommendation

Potentially suitable as a buy-to-let at a disciplined price, subject to confirming achieved rent, service charge, ground rent, lease terms, legal pack and all auction costs. Do not rely on the apparent GDV margin for a flip without full cost evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any minor making-good only if confirmed, with leasehold and legal documentation reviewed before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £216,000 base GDV, 75% refinance is approximately £162,000. A meaningful cash-left-in calculation cannot be completed because refurbishment costs and several acquisition costs are unknown. The 113-year unexpired lease is a positive point, but leasehold liabilities and lender acceptability remain unverified.

Buy-to-Let Analysis

Using the advertised asking-rent evidence of £650–£750 pcm, gross yield on the £160,000 guide is approximately 4.88%–5.63%, before service charge, ground rent, management, voids, maintenance, finance and taxation. The rents are asking rents rather than achieved rents, and no service-charge or ground-rent information is supplied. BTL may be viable at or near guide subject to legal and leasehold due diligence.

Flip Analysis

The base GDV is estimated at £216,000 against the £160,000 guide, leaving apparent gross headroom before the known £3,500 buyer premium and administration charge. However, refurbishment, selling, legal, finance and other auction costs are not evidenced, so a reliable flip surplus or maximum bid cannot be established.

Investor Risks & Due Diligence

• Unknown search, seller, legal, transfer and other auction-related costs

• No service-charge or ground-rent information for the leasehold flat

• Rental evidence is advertised asking rent rather than achieved rent

• No confirmed condition or refurbishment assessment

• Comparable sales have limited specification detail and may not be directly equivalent

• No confirmed parking, heating, council-tax or occupancy information

Recommendation

Potentially suitable as a buy-to-let at a disciplined price, subject to confirming achieved rent, service charge, ground rent, lease terms, legal pack and all auction costs. Do not rely on the apparent GDV margin for a flip without full cost evidence.

Strategy Rating

Analysis Confidence

There is a strong same-address sale and two rental asking-rent indicators, but property size, condition, service charge, ground rent, council tax, achieved rent and several auction costs are not supplied.