Flat 8, 23-25 St Andrews Road, Southsea, Hamphsire, PO5 1EP

Description

A Vacant Second Floor One Bedroom Flat. The property comprises a second floor one bedroom flat situated within a detached converted house arranged over ground and two upper floors.

Accommodation

Second Floor: Reception Room, Kitchen, Bedroom, Bathroom. G.I.A. approximately 39 sq m (419 sq ft).

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Southsea Common and Southsea Beach are within easy reach. Transport links are provided by Fratton rail station.

Tenure / Property Information

Investment Analysis

Comparable sales range from £65,000 to £225,000, but bedroom count, size, condition and transaction comparability are not supplied. A reliable GDV range cannot therefore be established. The £850 pcm figure is an advertised asking rent, not achieved rent.

Investment Snapshot

Strategy Recommendation

Potential buy-to-let at guide price, subject to rent validation, inspection, legal-pack review and confirmation of service charges and other costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspect the flat and obtain legal-pack information before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because GDV, refurbishment cost, service charges and finance costs are unavailable. The approximately 150-year lease is a positive factor, subject to legal review.

Buy-to-Let Analysis

At the £80,000 guide, the advertised £850 pcm rent equates to a 12.75% gross yield before fees, finance, service charges, maintenance, voids and tax. This is based only on asking rent and requires validation.

Flip Analysis

A flip surplus cannot be calculated reliably because the comparable sales vary materially and no works budget or selling-cost allowance is supplied.

Investor Risks & Due Diligence

• Comparable sale prices vary materially and lack specification details.

• The £850 pcm rent is an advertised asking rent rather than achieved rent.

• Condition and refurbishment requirements are unknown.

• Service charges, ground rent, EPC and council tax information are unavailable.

• Additional legal-pack disbursements and other purchaser charges may apply.

Recommendation

Potential buy-to-let at guide price, subject to rent validation, inspection, legal-pack review and confirmation of service charges and other costs.

Strategy Rating

Analysis Confidence

Address-specific sales and rental evidence are supplied, but comparable specifications, condition, costs, EPC and legal-pack details are incomplete.