3 Bed Terraced House, Refurb/BRRR, Louth, LN11 9ER, £185,000

7A Upgate, Louth, Lincolnshire, LN11 9ER - 33 views - 2 years ago

BTL
Refurb/BRRR
~172 m²
+16 photos

ValuationFair Value

Sold Prices£100K - £440K
Sold Prices/m²£1.2K/m² - £3.3K/m²

 

 

Square Metres

~172.43 m²
Price/m²£1.1K/m²

Value Estimate

£185,000

 

 

End Value (After Refurb)

£340,585

Uplift in Value

+84%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£6,750

Refurb Costs

£69,902

Bridging Loan Interest

£4,856

Total Cash In

£129,508

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£340,585

Agent Fees (1%)

£3,406

Bridging Loan

£138,750

Bridging Loan Interest

£4,856

Flip Profit

£68,921

Local Sold Prices

50 sold prices from £100K to £440K, average is £187K. £1.2K/m² to £3.3K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£110K06/210.02 mi5, Upgate, Louth, Lincolnshire LN11 9ER3
£440K04/230.08 mi32, Bridge Street, Louth, Lincolnshire LN11 0DP3
£165K11/200.09 miMyrtle Cottage, Spout Yard, Louth, Lincolnshire LN11 0LW3
£104.2K12/200.1 mi26, Gospelgate, Louth, Lincolnshire LN11 9JX3
£370K06/230.12 mi25, Gospelgate, Louth, Lincolnshire LN11 9JZ3
£239.9K01/210.15 mi21, Broadbank, Louth, Lincolnshire LN11 0EQ3
£239K06/210.15 miMallards Mead, Northgate, Louth, Lincolnshire LN11 0LT3
£205K05/230.17 mi29, Union Street, Louth, Lincolnshire LN11 0ES3
£240K03/240.17 mi19, Edward Street, Louth, Lincolnshire LN11 9LA3
£220K12/200.17 mi5, Edward Street, Louth, Lincolnshire LN11 9LA3
£145.5K02/230.18 mi6, Grimsby Road, Louth, Lincolnshire LN11 0DX3
£145K09/210.19 mi57, Broadbank, Louth, Lincolnshire LN11 0EW3
£220K11/200.19 mi56, Broadbank, Louth, Lincolnshire LN11 0EW3
£150K03/210.19 mi58, Broadbank, Louth, Lincolnshire LN11 0EW3
£190K06/210.19 mi41, Lee Street, Louth, Lincolnshire LN11 9HJ3
£170K12/200.19 mi22, Lee Street, Louth, Lincolnshire LN11 9HJ3
£127K12/220.2 mi52, Kidgate, Louth, Lincolnshire LN11 9BU3
£195K05/210.2 mi19, South Street, Louth, Lincolnshire LN11 9JS3
£225K02/230.2 mi14, Cedar Close, Louth, Lincolnshire LN11 0EH3
£138K08/210.2 mi4, Eve Street, Louth, Lincolnshire LN11 0JL3
£218K06/210.21 mi54b, Aswell Street, Louth, Lincolnshire LN11 9HP3
£150K10/200.25 mi71, Queen Street, Louth, Lincolnshire LN11 9BJ3
£165K04/230.27 mi40, Queen Street, Louth, Lincolnshire LN11 9BL3
£257.5K01/210.28 mi2, Quarryside, Louth, Lincolnshire LN11 9JE3
£165K03/210.28 mi1, Quarryside, Louth, Lincolnshire LN11 9JE3
£181K03/240.28 mi79, Upgate, Louth, Lincolnshire LN11 9HF3
£132K08/230.29 mi46, James Street, Louth, Lincolnshire LN11 0JW3
£125K10/220.29 mi58b, James Street, Louth, Lincolnshire LN11 0JW3
£182.5K12/230.33 mi26, St Michaels Road, Louth, Lincolnshire LN11 9DA3
£418K07/230.35 mi11, Blue Stone Rise, Louth, Lincolnshire LN11 9XZ3
£260K06/230.36 mi29, Ramsgate, Louth, Lincolnshire LN11 0NB3
£202K10/220.36 mi19, Ramsgate, Louth, Lincolnshire LN11 0NB3
£247.5K03/210.37 mi4, Linda Crescent, Louth, Lincolnshire LN11 9LQ3
£149K11/210.4 mi24, Newmarket, Louth, Lincolnshire LN11 9EQ3
£145K03/210.4 mi10, Alexandra Road, Louth, Lincolnshire LN11 0ND3
£195K11/200.41 mi117, High Holme Road, Louth, Lincolnshire LN11 0HD3
£124.5K03/210.41 mi79, High Holme Road, Louth, Lincolnshire LN11 0HD3
£194K05/210.42 mi23, Sandringham Drive, Louth, Lincolnshire LN11 0JE3
£184K09/210.42 mi10, Allison Road, Louth, Lincolnshire LN11 0GL3
£220K11/230.42 mi10, Allison Road, Louth, Lincolnshire LN11 0GL3
£179K08/210.44 mi7, Newbridge Hill, Louth, Lincolnshire LN11 0NQ3
£245K05/210.45 miCemetery Lodge, Upgate, Louth, Lincolnshire LN11 9QW3
£146K10/210.45 mi146, High Holme Road, Louth, Lincolnshire LN11 0HE3
£180K03/210.45 mi110, High Holme Road, Louth, Lincolnshire LN11 0HE3
£227.5K08/210.46 mi190, Eastgate, Louth, Lincolnshire LN11 9AG3
£180K02/240.46 mi230, Eastgate, Louth, Lincolnshire LN11 9AG3
£100K01/230.48 mi12, Longleat Drive, Louth, Lincolnshire LN11 0YW3
£275K12/200.5 mi66, Grimsby Road, Louth, Lincolnshire LN11 0DZ3
£200K12/200.5 mi78, Grimsby Road, Louth, Lincolnshire LN11 0DZ3
£227K03/210.52 mi35, Mount Pleasant, Louth, Lincolnshire LN11 9DW3

Local Rents

12 rents from £750/mo to £1.1K/mo, average is £850/mo.

RentDateDistanceAddressBeds 
£75005/240.07 miNichol Hill, Louth, LN113
£85005/240.12 miGospelgate, Louth3
£79505/240.12 miGospelgate, Louth3
£1,00006/240.31 miSt. Marys Lane, Louth3
£1,10005/240.32 miHorncastle Road, Louth3
£75005/240.35 miRamsgate, Louth3
£1,10005/240.43 miHigh Holme Road, Louth3
£75005/240.44 miPriory Road, Louth3
£79505/240.57 miArundel Drive, Louth. LN11 0HZ3
£85005/240.6 miChatsworth Drive, Louth3
£87505/240.61 miOld Chapel Mews, Louth, LN113
£85005/240.62 miSeymour Avenue, Louth3

Local Area Statistics

Population in LN11

28,179

Population in Louth

28,197

Town centre distance

0.20 miles away

Nearest school

0.20 miles away

Nearest train station

13.55 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+12%

Sales demand

Buyer's market

Capital growth (5yrs)

+9%

Property History

Listed for £185,000

May 17, 2023

Sold for £85,000

2002

Floor Plans

Description

  • Freehold Investment Property +
  • 2 One Bed Flats & 1 Two Bed Flat +
  • Located in the centre of Louth +
  • Fully Occupied +
  • Attractive End Terrace Period Townhouse +
  • 1610 SqFt (approx) in Total +
  • Grade II Listed Building +
  • Outside Courtyard +
  • Currently Managed by Stevens Property Management +

ATTENTION INVESTORS
Buy to let investment opportunity, freehold block of 3 flats.
A charming, end of terrace period townhouse situated opposite St James' Church in the centre of Louth. This grade II listed, three storey building is in need of some modernisation and presently comprises two 1 bedroom flats and a third 2 bedroom flat, all of which are currently occupied. The property is Freehold and predominantly of solid brick construction with a rendered facade and single glazed windows under a tiled roof. The building benefits from a smoke alarm system and emergency lighting in the common areas as well as a buzzer system to each flat from street level. Each flat has a separate gas boiler and is supplied with mains water, electricity and drainage.

Location - Louth - The property stands in the heart of Louth’s central Conservation Area, characterised by a number of attractive period buildings.
The historic market town of Louth; fondly known as the 'Capital of the Wolds' and beautifully positioned in an Area of Outstanding Natural Beauty is approximately 15 miles from the coast, 16 miles from Grimsby and 30 miles from Lincoln.
It has a wealth of local services and amenities to offer. Popular points of interest include the 'people's park' of Hubbard Hills and Westgate Fields, the last remaining Lincolnshire Cattle Market and the spectacular St James' Church, boasting the tallest medieval parish church spire of approx 287 feet /87.6 m. Other features include Louth Golf Course and Kenwick Park Golf Course, Louth Tennis Centre, London Road Sports Pavilion, Riverhead Theatre, Playhouse Cinema, Louth Museum, Kenwick Park Gym and Spa and Meridian Leisure Centre. As well as excellent local schools including King Edward's VI Grammar School, a doctors surgery and a hospital. Louth is particularly well known for its vast array of independent shops, butchers and delicatessens, thrice weekly markets and the New Market Indoor Hall all offering outstanding local produce as well as three supermarkets; Morrisons, Co-Op and Aldi.

Communal Area - The property is entered from street level either by a front door off Upgate or via a side door off Eastgate, accessed along a walled pathway. There is a rear courtyard area
which is gated from the side pathway which presently is used to house the refuse bins for the property.
The common area is fitted with linoleum flooring on the ground level with access to flat 7A and the stairs leading to the first (flat 7B) and second floor (flat 7C) are carpeted
There are also 2 cupboards on the ground floor housing meters and an emergency lighting and smoke alarm system.

Ground Floor, Flat A -

Reception Room - 4.54m x 4.06m - Entered directly from the common areas this spacious room is carpeted and has views through 2 wooden windows onto Upgate towards the Church. There is a radiator and space for seating and a dining table if required. A door to:

Inner Hallway - With doors to the kitchen, bedroom and shower room.

Kitchen - 2.46m x 2.21m - With a range of wall and base cupboards, roll top work tops and tiled splash backs, stainless steel sink and drainer and mixer tap, timber framed single glazed windows to rear, wall mounted gas fired boiler, tiled flooring and radiator.

Shower Room - 1.97m x 2.02m - Close coupled W.C, pedestal sink and single taps, corner shower cubicle with an electric shower and glass shower screens. Tiled flooring and walls, radiator.

Bedroom - 2.85m x 3.95m - With a timber framed single window, radiator.

First Floor, Flat B -

Lounge - 3.83m x 4.72m - With two timber framed single glazed sash windows to the front, radiator, door to:

Inner Hallway - With doors to the kitchen, bedroom and shower room.

Kitchen - 1.39m x 4.87m - With a range of fitted base cupboards, roll top worktops and tiled splashbacks. Integrated electric oven, ceramic hob and extractor hood over, lino flooring, radiator.

Bedroom - 4.03m x 2.54m - With a timber framed single window, radiator.

Shower Room - 1.60m x 1.94m - Close coupled w.c, pedestal sink and single taps, corner shower cubicle with an electric shower and glass shower screens. Tiled flooring and walls, radiator.

Second Floor Flat, Flat C -

Hallway - Leading to all rooms.

Reception Room - 3.91m x 4.82m - With two timber framed single glazed sash windows to the front and radiator.

Kitchen - 1.61m x 3.23m - With a range of fitted wall and base cupboards, roll top worktops and tiled splashbacks. Inset stainless steel sink and drainer with a mixer tap. Integrated electric oven, ceramic hob and extractor hood over, lino flooring, radiator.

Bedroom One - 3.91m x 2.26m - With a timber framed single window, radiator.

Shower Room - 1.60m x 1.17m - With a suspended sink with a mixer tap, corner shower cubicle with electric shower and glass shower screens, obscured uPVC double glazed window, tiled walls and flooring.

W.C - 0.89m x 1.46m - With a close coupled w.c, radiator, timber framed single glazed window, tiled floor.

Study/Bedroom Two - 2.49m x 1.75m - With a timber framed single glazed window. radiator.

Outside - There is a courtyard to the rear of the building which provides ideal space for wheelie bins/separate outside storage areas for tenants.

Agent Notes - The property is a Grade II Listed Building.

Services - Mains gas, water, electric and drainage are understood to be connected. As agents we do not test or inspect any of the services or service installations and any interested parties should rely on their own survey.

Tenure - The property is believed to be freehold and we await solicitors confirmation.

Council Tax Band - East Lindsey Council Tax Band A

Brochure Prepared - June 2022

Viewings - By prior appointment through TES Property office in Louth admin.

Opening Hours - Monday to Friday 9:00am to 5:00pm
Saturday 9:00am to 1:00pm

Agent Details

TES Property (Lincolnshire) Limited, Louth

01507 304807

Next Steps?

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