Ground Floor Flat, 393 High Road Leytonstone, London, E11 4JT

Description

A Vacant Ground Floor One Bedroom Flat in Need of Modernisation. The property comprises a ground floor one bedroom flat situated within a mid terrace building arranged over ground and first floors.

Accommodation

Ground 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 Langthorpe Park are within easy reach. Transport links are provided by Leyton underground station (Central line) and Stratford rail station.

Tenure / Property Information

Investment Analysis

Sold evidence on the same road ranges from £200,000 to £305,000, with the most recent cited sale at £248,999 and other 2021–2024 sales between £247,500 and £250,000. Given the subject is a vacant one-bedroom flat requiring modernisation, £250,000 is used as a provisional base GDV. The range is broad because size, specification and condition of the comparables are not supplied.

Investment Snapshot

Strategy Recommendation

Conditional BTL or BRRR only after surveying the required modernisation, reviewing the legal pack and confirming achievable rent and all lease-related costs. Do not set a maximum bid until works and total costs are known.

Works Required

Modernisation of the reception room, kitchen, bedroom and bathroom as supported by the description. The scope, specification and cost cannot be quantified without a survey or further details.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £250,000 base GDV, 75% refinance is approximately £187,500. A BRRR assessment cannot establish cash left in because refurbishment costs, full acquisition costs, legal-pack disbursements and finance costs are unavailable. The new 990-year lease is supportive, subject to legal review.

Buy-to-Let Analysis

Rental listings provide advertised asking rents of £1,300–£1,700 pcm, not achieved rents. This implies a gross yield of approximately 8.2%–10.7% on the £190,000 guide, with an indicative midpoint of 9.5%, before refurbishment, finance, service charge, management, voids and other costs. Net yield cannot be established.

Flip Analysis

A provisional £250,000 resale value is indicated by the comparable evidence, but flip profit cannot be calculated because refurbishment costs, selling costs and any applicable disbursements are not supplied. The £200,000–£305,000 comparable range creates significant valuation uncertainty.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but no survey, specification or refurbishment budget is supplied.

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

• Comparable sale prices vary materially from £200,000 to £305,000 and comparable sizes and specifications are not provided.

• Buyer premium, legal costs, service charge, ground rent and possible legal-pack disbursements are not quantified.

• EPC, council tax, parking and heating information are not supplied.

• The lease and any associated obligations require legal-pack review despite the stated new 990-year term.

Recommendation

Conditional BTL or BRRR only after surveying the required modernisation, reviewing the legal pack and confirming achievable rent and all lease-related costs. Do not set a maximum bid until works and total costs are known.

Strategy Rating

Analysis Confidence

There is useful same-road sold evidence and rental asking evidence, but property size, condition detail, refurbishment costs, EPC, service charges, lease costs, disbursements and achieved rent are unavailable.