Flat B, 9 Oxford Road, Hornsey, London, N4 3HA

Description

A Vacant Second Floor One Bedroom Flat in Need of Refurbishment, with Potential to Convert into a Two Bedroom Property (Subject to Obtaining All Relevant Consents). The property comprises a second floor one bedroom flat situated within a mid terrace house arranged over ground and two upper floors.

Accommodation

Second Floor: Reception Room, Kitchen, Bedroom, Bathroom

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Finsbury Park are within easy reach. Transport links are provided by Arsenal underground station (Piccadilly line) and Harringay rail station.

Tenure / Property Information

Investment Analysis

The supplied sales evidence is insufficient to establish a reliable GDV: the comparables lack bedroom, size and condition details, and range from £385,000 to £870,000. The £260,000+ guide cannot be treated as market value.

Investment Snapshot

Strategy Recommendation

Proceed only subject to survey, legal-pack review and a refurbishment quotation. The existing one-bedroom layout is more defensible than relying on an unconsented two-bedroom conversion.

Works Required

Refurbish the existing one-bedroom flat, subject to survey and the legal pack. Any conversion to two bedrooms requires all relevant consents; no specific works scope or cost is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because refurbishment costs, a reliable GDV and total acquisition costs are unsupported. The new 990-year lease is positive, but refinance value remains unestablished.

Buy-to-Let Analysis

Advertised one-bedroom rents of £2,175–£2,350 pcm imply gross yields of approximately 10.04%–10.85% against the £260,000 guide, before refurbishment, finance, leasehold and operating costs. These are asking rents, not achieved rents.

Flip Analysis

A flip surplus cannot be calculated. The available comparables are not sufficiently detailed to support GDV, while refurbishment costs and selling costs are unknown.

Investor Risks & Due Diligence

• Refurbishment is required, but no scope or cost is supplied.

• Two-bedroom conversion is only potential and requires relevant consents.

• Rental figures are advertised asking rents rather than achieved rents.

• Special-condition fees, legal costs, searches, transfer fees and disbursements may apply.

• Comparable sales lack size, bedroom and condition details, limiting valuation reliability.

Recommendation

Proceed only subject to survey, legal-pack review and a refurbishment quotation. The existing one-bedroom layout is more defensible than relying on an unconsented two-bedroom conversion.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, guide, admin charge and asking-rent evidence are supplied, but condition costs, floor area, lease terms beyond duration, GDV evidence and total fees are incomplete.