Flat 6, 46 Dartmouth Park Hill, Tufnell Park, London

Description

Vacant long leasehold self-contained second-floor flat with a reception room, three bedrooms, kitchen/diner, bathroom and WC. GIA approximately 94.65 sq m (1,019 sq ft).

Accommodation

Reception room, three bedrooms, kitchen/diner, bathroom and WC; GIA approximately 94.65 sq m (1,019 sq ft)

Location

Located on the north east side of Dartmouth Park Hill. The shops and amenities of Tufnell Park are to the south. Tufnell Park underground station (Northern line) is approximately 0.2 miles south. The A1 is located to the north east and Hampstead Heath to the west.

Tenure / Property Information

Investment Analysis

The supplied Land Registry comparables on the same road range from £350,000 to £422,000, with the latest evidence dated May 2022. However, the comparable sizes, bedroom counts, condition and floor positions are not provided, and there is no recent completed-sale evidence. A reliable current GDV cannot therefore be established from the supplied evidence. The £3,350 pcm figure is an advertised asking rent, not an achieved rent.

Investment Snapshot

Strategy Recommendation

Treat as a potential BTL only subject to confirming the achievable rent, service charges, condition and all auction costs. Do not bid on a flip or BRRR basis without current valuation evidence and a verified works budget.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a survey and confirm the condition of the kitchen, bathroom, WC, finishes, services and common parts before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is not supportable because no reliable current GDV, refurbishment budget, service-charge information or purchase-cost schedule is supplied. The new 990-year lease at a peppercorn ground rent is favourable in principle, but refinancing value and cash released cannot be calculated without a defensible GDV.

Buy-to-Let Analysis

The advertised asking rent of £3,350 pcm equates to £40,200 annually and an indicative gross yield of 11.86% against the £339,000 guide. This is not an achieved rent, and service charges, insurance, letting costs, finance, taxes and seller or third-party charges are unknown, so net yield and total-cost yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated because current resale value, refurbishment cost, selling costs and purchase-related charges are not sufficiently evidenced. The historic comparables provide context only and are not adequate for a current resale valuation.

Investor Risks & Due Diligence

• The rental evidence is a single advertised asking rent and may not reflect achieved rent.

• Comparable sales are dated 2020-2022 and lack size, bedroom and condition details.

• No condition or refurbishment information is supplied.

• Buyer premium, admin charge and other possible seller or third-party charges are unknown.

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

• No EPC, parking or heating information is supplied.

Recommendation

Treat as a potential BTL only subject to confirming the achievable rent, service charges, condition and all auction costs. Do not bid on a flip or BRRR basis without current valuation evidence and a verified works budget.

Strategy Rating

Analysis Confidence

The property description, tenure, lease term, guide and one advertised rent are supplied, but there is no condition report, EPC, service-charge data, buyer/admin fee schedule, current comparable evidence or detailed comparable-property information.