2 Bed Flat, Single Let, London, E15 2QG, £350,000

The Lock Building, Stratford, E15 2QG - 3 views - 2 years ago

Leasehold

BTL

ROI: 6%

~68 m²

+8 photos

ValuationUndervalued

Sold Prices	£226K - £572K
Sold Prices/m²	£3K/m² - £11.9K/m²

Square Metres	~68.11 m²
Price/m²	£5.1K/m²
Value Estimate	£407,908£407,908
BMV	17%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£87,500£87,500
Stamp Duty & Legal Fees	£16,700£16,700
Total Cash In	£104,200£104,200

Cash Out
Rent Range	£1,850 - £4,100£1,850 - £4,100
Rent Estimate	£2,000
Running Costs/mo	£1,514£1,514
Cashflow/mo	£486£486
Cashflow/yr	£5,835£5,835
ROI	6%6%
Gross Yield	7%7%

Local Sold Prices

49 sold prices from £226K to £572K, average is £367K. £3K/m² to £11.9K/m², average is £6K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£330K	10/20	0.2 mi	20, Bisson Road, London, Greater London E15 2RD	£5,000	66	2	Flat
£323.7K	12/20	0.25 mi	Flat 56, Corbin House, Bromley High Street, London, Greater London E3 3BQ	-	-	2	Flat
£353K	02/21	0.28 mi	100, Otter Close, London, Greater London E15 2PX	£6,193	57	2	Flat
£275K	08/21	0.29 mi	2, Otter Close, London, Greater London E15 2PZ	£4,661	59	2	Flat
£367K	06/21	0.29 mi	8, Otter Close, London, Greater London E15 2PZ	£6,016	61	2	Flat
£370K	04/21	0.29 mi	43, Otter Close, London, Greater London E15 2PZ	£6,736	55	2	Flat
£372.5K	06/23	0.3 mi	79, Otter Close, London, Greater London E15 2PT	£4,862	77	2	Flat
£300K	11/20	0.33 mi	Flat 6, Dorrington Point, Bromley High Street, London, Greater London E3 3EL	-	-	2	Flat
£393K	06/21	0.38 mi	144, Bow Road, London, Greater London E3 3AH	-	-	2	Flat
£332K	06/21	0.4 mi	Flat 22, Denbury House, Talwin Street, London, Greater London E3 3JB	-	-	2	Flat
£320K	04/23	0.41 mi	34, Brymay Close, London, Greater London E3 2SY	£6,163	52	2	Flat
£412.7K	12/22	0.54 mi	82a, Bow Road, London, Greater London E3 4DL	£5,685	73	2	Flat
£430K	12/21	0.58 mi	7b, Tomlins Grove, London, Greater London E3 4NX	£6,466	67	2	Flat
£226K	03/23	0.64 mi	198, Campbell Road, London, Greater London E3 4ED	£2,975	76	2	Flat
£370K	08/21	0.64 mi	220, Campbell Road, London, Greater London E3 4ED	£5,692	65	2	Flat
£301.5K	03/23	0.69 mi	Flat 32, Wellington Buildings, Wellington Way, London, Greater London E3 4NA	-	-	2	Flat
£320K	10/20	0.69 mi	28, Memorial Avenue, London, Greater London E15 3BT	£5,079	63	2	Flat
£332K	03/21	0.7 mi	170, Rounton Road, London, Greater London E3 4EX	£5,030	66	2	Flat
£340K	03/21	0.7 mi	110, Rounton Road, London, Greater London E3 4EX	£5,075	67	2	Flat
£455K	06/23	0.71 mi	Flat 22, Marina Court, Alfred Street, London, Greater London E3 2BH	-	-	2	Flat
£310K	11/20	0.72 mi	47, Durban Road, London, Greater London E15 3BW	£4,471	69	2	Flat
£355K	02/21	0.72 mi	Flat 17, Astra House, Alfred Street, London, Greater London E3 2BA	-	-	2	Flat
£411.3K	09/21	0.77 mi	113, Fairfoot Road, London, Greater London E3 4EJ	£5,961	69	2	Flat
£343K	03/21	0.77 mi	159, Fairfoot Road, London, Greater London E3 4EJ	£5,310	65	2	Flat
£390K	04/23	0.77 mi	73, Hewison Street, London, Greater London E3 2HZ	£5,821	67	2	Flat
£302.5K	11/20	0.78 mi	21, Holland Road, West Ham, London, Greater London E15 3BP	£5,216	58	2	Flat
£365K	02/21	0.83 mi	Flat 6, Barford House, Tredegar Road, London, Greater London E3 5HP	-	-	2	Flat
£400K	12/22	0.84 mi	1, Barnby Street, London, Greater London E15 4PY	£5,405	74	2	Flat
£325K	08/21	0.84 mi	9, Barnby Street, London, Greater London E15 4PY	£4,851	67	2	Flat
£265.5K	10/21	0.85 mi	Flat 24, Bracken House, Devons Road, London, Greater London E3 3RG	-	-	2	Flat
£417K	04/23	0.87 mi	1, Regal Place, London, Greater London E3 2BG	£8,653	48	2	Flat
£365K	06/23	0.87 mi	9, Chopwell Close, London, Greater London E15 4RP	£6,655	55	2	Flat
£572K	06/21	0.9 mi	23, Tredegar Road, London, Greater London E3 2EH	£11,917	48	2	Flat
£572K	06/21	0.9 mi	23, Tredegar Road, London, Greater London E3 2EH	£11,917	48	2	Flat
£500K	06/21	0.91 mi	7, Eden Way, London, Greater London E3 2JD	£9,434	53	2	Flat
£555K	09/21	0.91 mi	8, Eden Way, London, Greater London E3 2JD	£7,603	73	2	Flat
£380K	06/23	0.94 mi	465, Mile End Road, London, Greater London E3 4PA	-	-	2	Flat
£360K	02/23	0.95 mi	Flat 65, Winford House, Jodrell Road, London, Greater London E3 2LF	-	-	2	Flat
£275K	06/21	0.95 mi	Flat 5, Stafford Morris House, Church Street, Stratford, London, Greater London E15 3JY	-	-	2	Flat
£375K	08/21	0.96 mi	14, Locksons Close, London, Greater London E14 6BH	£6,466	58	2	Flat
£367K	10/21	0.96 mi	1b, Aldworth Road, London, Greater London E15 4DN	£6,673	55	2	Flat
£385K	02/21	0.96 mi	1a, Aldworth Road, London, Greater London E15 4DN	£7,404	52	2	Flat
£341.5K	06/21	0.96 mi	1d, Aldworth Road, London, Greater London E15 4DN	£6,969	49	2	Flat
£390K	06/21	0.97 mi	6, Gerry Raffles Square, London, Greater London E15 1BG	-	-	2	Flat
£380K	06/21	0.97 mi	31, Gerry Raffles Square, London, Greater London E15 1BG	£6,909	55	2	Flat
£415K	01/21	0.98 mi	119, Gerry Raffles Square, London, Greater London E15 1BQ	£5,895	70	2	Flat
£360K	10/20	0.98 mi	56, Gerry Raffles Square, London, Greater London E15 1BG	£7,018	51	2	Flat
£500K	05/23	0.98 mi	128, Antill Road, London, Greater London E3 5BN	-	-	2	Flat
£440K	02/21	0.99 mi	27b, Ropery Street, London, Greater London E3 4QH	-	-	2	Flat

Local Rents

50 rents from £1.9K/mo to £4.1K/mo, average is £2.2K/mo.

Rent	Date	Distance	Address	Beds	Type
£2,400	03/24	0.08 mi	Carpet Street Sugar House Island E15	2	Flat
£2,200	05/24	0.1 mi	Thomas Frye Court, London, E15	2	Flat
£2,200	05/24	0.1 mi	-	2	Flat
£2,350	03/24	0.1 mi	Copperworks Wharf London E15	2	Flat
£2,200	12/24	0.11 mi	-	2	Flat
£2,500	03/25	0.11 mi	-	2	Flat
£2,450	05/24	0.11 mi	Copperworks Wharf, Sugar House Island, E15	2	Flat
£2,450	04/24	0.11 mi	Copperworks Wharf, Sugar House Island, E15	2	Flat
£2,200	04/24	0.12 mi	High Street, London, E15	2	Flat
£2,160	02/24	0.12 mi	-	2	Flat
£2,250	04/24	0.12 mi	Thomas Frye Court, High Street, London, E15	2	Flat
£2,295	03/24	0.12 mi	Bolinder Way, London	2	Flat
£3,700	04/24	0.12 mi	Siena House, Bollinder Place, London, EC1V	2	Flat
£4,100	05/24	0.13 mi	Sienna House, London EC1V	2	Flat
£3,850	03/24	0.13 mi	Sienna House, London EC1V	2	Flat
£3,900	04/24	0.13 mi	Siena House, Bollinder Place, London, EC1V	2	Flat
£3,700	04/24	0.13 mi	Siena House, Bollinder Place, London, EC1V	2	Flat
£3,650	04/24	0.13 mi	Siena House, 11 Bollinder Place, London, EC1V	2	Flat
£4,000	04/24	0.13 mi	Sienna House, City Road, London EC1V	2	Flat
£2,200	02/25	0.13 mi	-	2	Flat
£2,349	03/24	0.13 mi	High Street, Stratford	2	Flat
£2,199	03/25	0.13 mi	-	2	Flat
£2,000	04/24	0.13 mi	Central House, 32-66 High Street, London, E15	2	Flat
£2,000	02/24	0.13 mi	-	2	Flat
£2,000	03/24	0.13 mi	-	2	Flat
£2,000	03/24	0.13 mi	George Hudson Tower, 28 High Street, Stratford, E15	2	Flat
£2,100	04/24	0.13 mi	George Hudson Tower, 28 High Street, Stratford, E15	2	Flat
£2,500	05/24	0.13 mi	-	2	Flat
£4,099	12/24	0.13 mi	-	2	Flat
£2,300	02/25	0.13 mi	-	2	Flat
£2,100	03/24	0.14 mi	-	2	Flat
£2,100	02/25	0.14 mi	-	2	Flat
£2,200	02/25	0.14 mi	-	2	Flat
£2,350	03/24	0.14 mi	-	2	Flat
£2,200	04/24	0.14 mi	High Street, Stratford	2	Flat
£2,000	03/24	0.14 mi	High Street, London, E15	2	Flat
£1,900	02/25	0.14 mi	-	2	Flat
£2,100	03/25	0.14 mi	-	2	Flat
£2,000	03/25	0.14 mi	-	2	Flat
£2,000	03/25	0.14 mi	-	2	Flat
£1,900	01/25	0.14 mi	-	2	Flat
£2,200	03/24	0.14 mi	-	2	Flat
£2,000	03/24	0.14 mi	Central House, High Street, London, E15	2	Flat
£1,950	04/24	0.14 mi	High Street, London, E15	2	Flat
£2,000	03/24	0.14 mi	Central house High Street, London, E15	2	Flat
£1,850	03/24	0.14 mi	Central House \| Stratford High Street \| E15	2	Flat
£2,000	03/24	0.14 mi	High Street, London, E15	2	Flat
£2,000	05/24	0.14 mi	Central house High Street, London, E15	2	Flat
£2,000	03/24	0.14 mi	High Street, Stratford, E15	2	Flat
£2,500	04/24	0.14 mi	Sky View Tower, 12 High Street, Stratford, London, E15	2	Flat

Local Area Statistics

Population in E15	52,19952,199
Population in London	4,771,9214,771,921
Town centre distance	4.12 miles away4.12 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.34 miles away0.34 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+16%+16%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+22%+22%

Property History

Listed for £350,000

August 21, 2023

Floor Plans

Description

TWO DOUBLE BEDROOM APARTMENT +
LOCATED ON THE FIFTH FLOOR WITH LIFT ACCESS +
FAMILY BATHROOM AND EN SUITE +
CLOSE TO STRATFORD HIGH STREET AND PUDDING MILL DLR +
NO ONWARDS CHAIN +
PRIVATE BALCONY +
FANTASTIC LOCATION +
110 YEARS LEASE REMAINING +
PERFECT FOR FIRST TIME BUYERS AND INVESTORS ALIKE +

*OPEN HOUSE EVENT 28TH-29TH SEPTEMBER*
EWS1 AVAILABLE

A great opportunity to purchase this modern two bedroom two bathroom apartment in the Lock Building. This property comprises two double bedrooms, with a en suite bathroom off the master bedroom, a light and airy open plan lounge and fitted kitchen, family bathroom and private balcony with fantastic views over looking the of the Olympic Park. This modern block offers entry door system, lift access and porter service as well as easy access to Westfield Shopping Centre and all of the amenities of the Olympic Park. Boasting excellent transport links with Pudding Mill DLR, Stratford Underground and Stratford Mainline Station being short walks away. Ideal for a first time purchase or investment alike.

Agent Details

Bairstow Eves, Stratford

020 3873 5835

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

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