Flat 61 and parking space 61, 39 Effra Parade, Brixton, London, SW2 1PG

Description

Long leasehold second floor purpose-built self-contained flat together with parking space 61. Full vacant possession.

Accommodation

Second floor: one bedroom, reception room, kitchen, bathroom/WC and hall. Outside: parking space number 61. Gross Internal Area: approximately 45 sq m (486 sq ft).

Location

Situated on Effra Parade between its junctions with Railton Road and Dalberg Road. Public transport links include Brixton Mainline Rail Station and Underground Station on the Victoria Line, together with local bus services. Road links include the A23 and South Circular Road (A205). Shopping amenities, cafes, bars and restaurants are available in Brixton Town Centre, including Brixton Village and Market Row. Brockwell Park and Ruskin Park are nearby.

Tenure / Property Information

Investment Analysis

Five completed sales are supplied for the same address, ranging from £286,001 to £423,000. The median is £315,000 and the mean is approximately £331,300, although the evidence does not identify the individual flats, sizes, condition or whether parking was included. A cautious base GDV of £315,000 is therefore used, with £286,001 as the low scenario and £423,000 as the high scenario. The £423,000 sale may not be directly comparable and should not be relied upon without title and sale-detail verification.

Investment Snapshot

Strategy Recommendation

Value-led acquisition only if legal due diligence confirms the comparable sales relate to similar flats with parking and the property has no material lease or service-charge issues. The apparent BRRR/refinance margin is stronger than the low supported rental yield, but should not be relied upon until valuation and finance terms are confirmed.

Works Required

No refurbishment defects or required works are evidenced. Allow for inspection, legal review, and any routine maintenance or compliance items identified before exchange, but no works budget can be quantified from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known £1,800 fee, the base acquisition cost is £211,800 before any works, finance, tax or other seller charges. A 75% refinance against the £315,000 base GDV would be £236,250, implying approximately £24,450 more than the stated acquisition cost before finance and transaction costs. This is a paper estimate dependent on the flat-specific valuation, lender terms, lease and service-charge information; no refurbishment uplift is evidenced.

Buy-to-Let Analysis

Using the single advertised asking rent of £600 pcm, annual gross rent is £7,200. This equates to approximately 3.43% on the £210,000 guide and 3.40% on the guide plus the known £1,800 documentation fee. The rental evidence is a single asking listing for a one-bedroom property and is not confirmed as an achieved rent or an exact match, so net yield cannot be established. Ground rent, service charge, finance, tax and other costs are also not supplied.

Flip Analysis

Against the £315,000 base GDV, the gross difference before selling costs, finance, tax and works is £103,200 using the guide and known £1,800 fee. No supported selling allowance or refurbishment cost is available, so a true flip surplus cannot be established. The comparable sales are at the same address but lack flat-specific detail, making resale value uncertain.

Investor Risks & Due Diligence

• Comparable sales do not identify the relevant flat, size, condition or parking inclusion.

• Only one advertised asking rent is supplied; achieved rent and net operating costs are unknown.

• Service charge is not supplied and could materially affect ownership and yield.

• Seller fees may be payable on completion but are not quantified.

• No refurbishment or condition evidence is supplied.

• Lease title, management information and any restrictions should be reviewed before bidding.

• Refinance depends on a lender valuation and terms that are not supplied.

Recommendation

Value-led acquisition only if legal due diligence confirms the comparable sales relate to similar flats with parking and the property has no material lease or service-charge issues. The apparent BRRR/refinance margin is stronger than the low supported rental yield, but should not be relied upon until valuation and finance terms are confirmed.

Strategy Rating

Analysis Confidence

There are five recent completed sales at the same address and basic lease, occupancy and fee information, but the sales are not flat-specific, refurbishment condition is unknown, service charge and seller fees are undisclosed, and rental evidence consists of one advertised asking rent that may not be an exact match.