2 Bed Flat, Cash/Bridging Only, Southend-on-Sea, SS2 6DS, £175,000

The Pinnacle, 59 Victoria Avenue,Southend, SS2 6DS - 2 years ago

Leasehold
Cash
ROI: 3%
~68 m²
+7 photos

ValuationFair Value

Sold Prices£75K - £285K
Sold Prices/m²£2.1K/m² - £5.4K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.6K/m²

Value Estimate

£175,000

 

 

End Value (After Refurb)

£224,720

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£43,750

Stamp Duty & Legal Fees

£9,950

Refurb Costs

£32,800

Bridging Loan Interest

£4,594

Total Cash In

£92,844

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£224,720

Mortgage (After Refinance)

£168,540

Mortgage LTV

75%

Cash Released

£37,290

Cash Left In

£55,554

Equity

£56,180

Rent Range

£1,000 - £1,700

Rent Estimate

£1,200

Running Costs/mo

£962

Cashflow/mo

£238

Cashflow/yr

£2,853

ROI

3%

Gross Yield

8%

Local Sold Prices

50 sold prices from £75K to £285K, average is £206.5K. £2.1K/m² to £5.4K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£265K12/230.18 mi57, Boston Avenue, Southend-on-sea SS2 6JH2
£235K03/230.18 mi49a, Boston Avenue, Southend-on-sea SS2 6JH2
£145K07/210.19 mi24, Tunbridge Road, Southend-on-sea SS2 6LT2
£220K12/230.19 mi24a, Tunbridge Road, Southend-on-sea SS2 6LT2
£180K11/210.34 mi83b, Princes Street, Southend-on-sea SS1 1PT2
£75K04/210.35 miFlat 27, Martins Court, Stadium Road, Southend-on-sea SS2 5DH2
£190K12/200.36 mi19, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£165K10/230.37 mi7a, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£180K08/230.42 mi32b, Elmer Avenue, Southend-on-sea SS1 1NB2
£187.5K07/210.42 mi15, Napier Avenue, Southend-on-sea SS1 1LY2
£220K03/230.42 mi126, East Street, Southend-on-sea SS2 5EE2
£150K06/210.42 mi7, Balmoral Road, Westcliff-on-sea, Southend-on-sea SS0 7DG2
£240K09/210.43 mi55, Shakespeare Drive, Westcliff-on-sea, Southend-on-sea SS0 9AA2
£235K10/230.43 mi10, Ashburnham Road, Southend-on-sea SS1 1QD2
£200K11/210.44 mi259, Hamlet Court Road, Westcliff-on-sea, Southend-on-sea SS0 7DD2
£248K08/230.48 mi180, East Street, Southend-on-sea SS2 5EA2
£166.5K11/200.48 miFlat 14, Napier Court West, Gordon Place, Southend-on-sea SS1 1NH2
£135K11/230.49 mi1, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JN2
£185K02/210.49 mi30, Hamlet Road, Southend-on-sea SS1 1HJ2
£177K07/210.49 mi30a, Westborough Road, Westcliff-on-sea, Southend-on-sea SS0 9DP2
£200K06/210.5 mi8, Claremont Road, Westcliff-on-sea, Southend-on-sea SS0 7DZ2
£235K01/210.51 mi2a, Dryden Avenue, Southend-on-sea SS2 5EU2
£184.5K10/210.51 mi46, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JW2
£150K12/200.51 mi82, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JW2
£235K11/200.52 mi16, St Johns Road, Westcliff-on-sea, Southend-on-sea SS0 7JZ2
£140.5K03/210.52 mi40, Sutton Road, Southend-on-sea SS2 5EW2
£210K09/210.52 mi41, Central Avenue, Southend-on-sea SS2 5HR2
£220K02/230.54 mi485a, Sutton Road, Southend-on-sea SS2 5PL2
£210K08/230.54 mi473b, Sutton Road, Southend-on-sea SS2 5PL2
£200K09/210.54 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£225K06/210.54 mi2, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JW2
£220K10/230.54 miGround Floor Flat, 28, Whitegate Road, Southend-on-sea SS1 2LQ2
£218K11/210.54 mi96a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£210K12/200.54 mi96, Ennismore Gardens, Southend-on-sea SS2 5RB2
£237.5K05/230.54 mi108a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£202.5K02/210.55 mi29, South Avenue, Southend-on-sea SS2 5JA2
£200K09/210.55 mi43a, Swanage Road, Southend-on-sea SS2 5HX2
£205K04/210.58 mi64, Westborough Road, Westcliff-on-sea, Southend-on-sea SS0 9DL2
£244K06/210.58 miGround Floor Flat, 86, St Helens Road, Westcliff-on-sea, Southend-on-sea SS0 7LE2
£220K01/210.58 mi92, St Helens Road, Westcliff-on-sea, Southend-on-sea SS0 7LE2
£285K03/210.58 mi23b, Cambridge Road, Southend-on-sea SS1 1ET2
£200K11/210.59 mi12, Hermitage Road, Westcliff-on-sea, Southend-on-sea SS0 7NQ2
£200K09/210.59 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£130K08/230.6 mi75a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£193K12/230.6 mi6, Tyrrel Drive, Southend-on-sea SS1 2LN2
£210K10/200.6 mi8a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£245K05/230.62 mi11a, Shakespeare Avenue, Westcliff-on-sea, Southend-on-sea SS0 0ST2
£208K03/230.63 mi158, Glenwood Avenue, Westcliff-on-sea, Southend-on-sea SS0 9DT2
£250K09/210.64 mi50, Cossington Road, Westcliff-on-sea, Southend-on-sea SS0 7NG2
£240.5K04/210.66 mi68a, Valkyrie Road, Westcliff-on-sea, Southend-on-sea SS0 8AP2

Local Rents

38 rents from £1K/mo to £1.7K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,17502/250 miThe Pinnacle , 59 Victoria Avenue 2
£1,12509/240.01 miThe Pinnacle , Southend-On-Sea2
£1,40009/240.01 mi-2
£1,55003/250.01 mi-2
£1,35011/240.02 mi-2
£1,50004/250.02 mi-2
£1,35002/250.02 mi-2
£1,35003/250.02 mi-2
£1,32509/240.02 miThe Avenue, Southend-on-sea, Essex2
£1,32503/240.02 miThe Avenue, Southend-on-sea, Essex2
£1,40009/240.04 miVictoria Avenue, Southend-on-Sea2
£1,35003/240.04 miBeaumont Court2
£1,25003/240.04 miBeaumont Court, Southend-On-Sea2
£1,35009/240.04 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,45009/240.04 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,40009/240.04 mi2 bedroom 1st Floor Flat in Southend on Sea2
£1,45009/240.04 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,35009/240.04 miBeaumont Court, Victoria Avenue2
£1,35009/240.04 miBeaumont Court, Victoria Avenue, Southend on Sea2
£1,45009/240.04 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,40009/240.04 miVictoria Avenue, Southend-on-Sea2
£1,50010/240.04 mi-2
£1,65002/250.04 mi-2
£1,45011/230.04 mi-2
£1,27509/240.04 miBeaumont Court, - Victoria Avenue, Southend-On-Sea2
£1,30011/240.08 mi-2
£1,25009/240.08 mi-2
£1,25008/240.08 mi-2
£1,25009/240.08 mi-2
£1,35009/240.13 miSweyne Avenue, Southend On Sea2
£1,00004/250.13 mi-2
£1,28001/250.14 mi-2
£1,70009/240.15 mi-2
£1,40009/240.15 miVictoria Avenue, Southend on Sea, SS22
£1,50004/250.17 mi-2
£1,35002/250.17 mi-2
£1,45009/240.21 mi-2
£1,25010/240.27 mi-2

Local Area Statistics

Population in SS2

36,418

Population in Southend-on-Sea

106,129

Town centre distance

0.69 miles away

Nearest school

0.10 miles away

Nearest train station

0.24 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+24%

Property History

Listed for £175,000

May 26, 2023

Floor Plans

Description

  • TWO DOUBLE BEDROOMS +
  • EN-SUITE TO MASTER +
  • CURRENT RENT 1200PCM +
  • TENANT IN SITU +
  • INVESTORS ONLY +
  • KITCHEN WITH APPLIANCES +
  • SECURE GATED PARKING +
  • CONCIERGE +
  • CLOSE TO MAINLINE STATION +
  • CLOSE TO TOWN CENTRE +

FULL DESCRIPTION This stunning two-bedroom apartment offers contemporary living in a prime Southend location. Featuring two spacious double bedrooms, both with built-in wardrobes, the master benefits from a sleek en-suite bathroom. A second modern bathroom serves the rest of the property.

The bright and airy open-plan lounge seamlessly connects to a stylish, fully fitted kitchen, complete with built-in appliances-perfect for both everyday living and entertaining. Newly installed modern electric heating ensures comfort throughout, while double glazing enhances energy efficiency.

Additional benefits include secure gated parking, lift access, and a well-maintained communal area. Situated just a 7-minute walk to Southend Victoria Station, offering direct access to London, and only a 14-minute walk to Southend High Street, where you'll find a variety of shops, restaurants, and pubs.

An ideal home for Investors or Cash buyers, view today! 

LOUNGE 21' 10" x 12' 6" (6.66m x 3.82m)  

MASTER BEDROOM 16' 11" x 12' 6" (5.18m x 3.82m)  

ENSUITE 6' 11" x 6' 2" (2.13m x 1.89m)  

BEDROOM 2 14' 5" x 8' 7" (4.41m x 2.63m)  

BATHROOM 6' 11" x 6' 2" (2.12m x 1.89m)  

LEASEHOLD INFORMATION Lease: 125 years from and including 1 December 2017 and to and including 30 November 2142
Ground Rent: £100 per annum
Service Charge: £1,533.32 per annum
Council Tax Band: C
Don't miss the chance to secure this fantastic apartment. Arrange a viewing today!

Agent Details

Martin & Co, Southend

01702 967310

Next Steps?

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