2 Bed Flat, Cash/Bridging Only, Southend-on-Sea, SS1 2EB, £170,000

2 bedroom 2nd Floor and Above Flat in Southend on Sea, Southend-on-Sea, SS1 2EB - 2 views - a year ago

Leasehold
Cash
~68 m²
+3 photos

ValuationUndervalued

Sold Prices£1 - £337K
Sold Prices/m²£0/m² - £5.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.5K/m²

Value Estimate

£175,100
BMV3%

 

 

End Value (After Refurb)

£218,339

Uplift in Value

+28%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£42,500

Stamp Duty & Legal Fees

£6,300

Refurb Costs

£33,103

Bridging Loan Interest

£4,463

Total Cash In

£88,116

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£218,339

Mortgage (After Refinance)

£163,755

Mortgage LTV

75%

Cash Released

£36,255

Cash Left In

£51,861

Equity

£54,585

Rent Range

£900 - £2,250

Rent Estimate

£880

Running Costs/mo

£878

Cashflow/mo

£2

Cashflow/yr

£20

ROI

0%

Gross Yield

6%

Local Sold Prices

51 sold prices from £1 to £337K, average is £197K. £0/m² to £5.1K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£200K06/210.08 mi31a, Christchurch Road, Southend-on-sea SS2 4JS2
£180K03/210.1 mi16a, Stromness Road, Southend-on-sea SS2 4JQ2
£192.5K06/210.12 mi27a, Stromness Road, Southend-on-sea SS2 4JG2
£200K10/210.12 mi39, Stromness Road, Southend-on-sea SS2 4JG2
£270K11/210.12 mi4, Bellevue Mews, Southend-on-sea SS2 4PE2
£177K03/210.13 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£177K03/210.13 mi11a, Oban Road, Southend-on-sea SS2 4JJ2
£197.5K12/230.14 mi49, Ambleside Drive, Southend-on-sea SS1 2UT2
£175K08/210.15 mi59, Ambleside Drive, Southend-on-sea SS1 2UT2
£200K03/210.16 mi78, Boscombe Road, Southend-on-sea SS2 4JP2
£180K05/210.16 mi101a, Boscombe Road, Southend-on-sea SS2 4JP2
£330K09/210.18 mi111, Ambleside Drive, Southend-on-sea SS1 2UP2
£197K12/200.19 mi53, Leamington Road, Southend-on-sea SS1 2SW2
£200K02/210.2 mi69a, Wimborne Road, Southend-on-sea SS2 4JR2
£189K03/210.2 mi55, Cheltenham Road, Southend-on-sea SS1 2SA2
£220K12/220.21 mi18a, Ilfracombe Road, Southend-on-sea SS2 4PB2
£190K06/210.24 mi43a, Honiton Road, Southend-on-sea SS1 2RY2
£320K05/210.24 mi132, Southchurch Avenue, Southend-on-sea SS1 2RP2
£192.5K10/230.26 mi15a, Lovelace Avenue, Southend-on-sea SS1 2QU2
£160K07/210.27 mi2a, Trinity Road, Southend-on-sea SS2 4HJ2
£217K06/230.27 mi56, Lovelace Gardens, Southend-on-sea SS2 4NU2
£155K12/220.28 mi109, Southchurch Avenue, Southend-on-sea SS1 2RW2
£148.5K06/210.28 mi11, Kilworth Avenue, Southend-on-sea SS1 2DS2
£195K03/210.3 mi21a, Surbiton Road, Southend-on-sea SS2 4NR2
£217.5K01/230.3 mi11a, Cheltenham Road, Southend-on-sea SS1 2SB2
£245K01/230.31 mi12, Cromer Road, Southend-on-sea SS1 2DU2
£210K12/230.32 mi9a, Lancaster Gardens, Southend-on-sea SS1 2NS2
£177.5K11/200.34 mi131a, Brunswick Road, Southend-on-sea SS1 2UL2
£198K04/210.36 mi40a, Westbury Road, Southend-on-sea SS2 4DP2
£170K06/210.36 mi36a, Oakleigh Avenue, Southend-on-sea SS1 2QR2
£200K09/210.36 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£198K05/230.37 mi3a, Hastings Road, Southend-on-sea SS1 2DR2
£200K09/210.37 mi43a, Swanage Road, Southend-on-sea SS2 5HX2
£140.5K03/210.38 mi40, Sutton Road, Southend-on-sea SS2 5EW2
£210K10/200.38 mi8a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£130K08/230.38 mi75a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£193K12/230.38 mi6, Tyrrel Drive, Southend-on-sea SS1 2LN2
£195K12/200.38 mi118, Trinity Road, Southend-on-sea SS2 4HW2
£230K12/220.39 mi3, Hastings Road, Southend-on-sea SS1 2DR2
£209K12/200.39 mi262, Central Avenue, Southend-on-sea SS2 4EE2
£200K09/210.39 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£202.5K02/210.4 mi29, South Avenue, Southend-on-sea SS2 5JA2
£170K09/230.41 mi111c, York Road, Southend-on-sea SS1 2DL2
£211K12/200.42 mi209a, Stornoway Road, Southend-on-sea SS2 4NJ2
£210K09/210.45 mi41, Central Avenue, Southend-on-sea SS2 5HR2
£130K06/210.45 mi120a, York Road, Southend-on-sea SS1 2DJ2
£337K08/210.45 mi100, Victoria Road, Southend-on-sea SS1 2TF2
£195.5K03/230.45 mi89, Marks Court, Southend-on-sea SS1 2RQ2
£175K03/210.46 mi22, Marks Court, Southend-on-sea SS1 2RH2
£153K11/200.46 mi34, Marks Court, Southend-on-sea SS1 2RH2
£103/210.52 mi31, Northumberland Avenue, Southend-on-sea SS1 2TH2

Local Rents

48 rents from £900/mo to £2.3K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,35010/230.01 mi-2
£1,45002/250.03 mi-2
£1,40012/240.03 mi-2
£1,40009/240.08 miChase Court Gardens, Southend-on-Sea2
£1,25007/240.08 mi-2
£1,10009/240.11 mi2 bedroom 1st Floor Flat in Southend on Sea2
£97509/240.12 miStromness Road, Southend-On-Sea, Essex, SS22
£1,30009/240.13 mi-2
£1,20003/250.16 mi-2
£1,20009/240.17 miSouthchurch Avenue, Southend-On-Sea2
£1,40009/240.19 mi-2
£1,45004/250.19 mi-2
£1,40009/240.19 miHighbanks, Southend on Sea2
£97512/230.2 mi-2
£1,35009/240.21 mi-2
£1,20009/240.23 miHoniton Road, Southend-On-Sea2
£1,25009/240.25 miSouthchurch Road, Southend-On-Sea, Essex, SS12
£1,60004/250.25 mi-2
£1,25009/240.25 miSouthchurch Road, Southend-On-Sea, Essex, SS12
£1,25009/240.26 miSouthchurch Road, Southend-On-Sea, Essex, SS12
£1,18509/240.29 miSouthchurch Road, Southend-on-Sea, Essex, SS1 2PW2
£1,10009/240.31 miClose To Seafront, Southend On Sea2
£1,20004/250.31 mi-2
£1,20004/250.31 mi-2
£1,30011/240.31 mi-2
£1,30012/240.31 mi-2
£1,00009/240.33 miThe Courtyard, Southchurch Road2
£1,10009/240.33 miSouthchurch Road, Southend-On-Sea2
£1,50009/240.34 miFreemans Court, 1 Honiton Road, Southend On Sea, Essex, SS12
£1,00009/240.34 miMontague Buildings, Southchurch Road, Southend-on-Sea, Essex2
£99502/240.34 mi-2
£99509/240.34 mi-2
£1,10003/250.34 mi-2
£1,19503/250.34 mi-2
£1,20002/250.34 miSeafront, Southend On Sea2
£95009/240.35 miBournemouth Park Road, Southend-On-Sea, Essex, SS22
£1,30003/250.35 mi-2
£1,20009/240.35 miYork Road, Southend-On-Sea, Essex, SS12
£1,30009/240.35 miSouthchurch Avenue, Southend-on-Sea, Essex, SS12
£1,20009/240.36 miSouthchurch Avenue, Southend On Sea2
£1,10002/240.36 mi-2
£1,05002/250.36 mi-2
£1,29508/240.36 mi-2
£1,15009/240.37 miYork Road, Southend-on-Sea2
£90010/240.38 mi-2
£1,10008/240.39 mi-2
£2,25004/250.4 mi-2
£1,29501/250.4 mi-2

Local Area Statistics

Population in SS1

26,369

Population in Southend-on-Sea

106,129

Town centre distance

0.71 miles away

Nearest school

0.10 miles away

Nearest train station

0.21 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+40%

Sales demand

Buyer's market

Capital growth (5yrs)

+21%

Property History

Listed for £170,000

February 2, 2024

Floor Plans

Description

  • 2 Spacious Bedrooms +
  • 4th Floor Apartment +
  • Secure Off-Street Parking +
  • Annual AST Rent £10,560 +
  • Modern Apartment +
  • Use of a Communal Lift +
  • Walk to Local Amenities +
  • Open-Plan Living Area +

CASH PURCHASE ONLY ... PACE are excited to offer this 2 DOUBLE bedroom second floor flat situated along the popular Southchurch Road. The property has a spacious open plan kitchen/living area with neutral soft carpets and large storage cupboard in the entrance hall and master bedroom. The kitchen is delightfully modern with white cupboards and a granite effect work top. Both bedrooms are double rooms with lovely neutral decor. The bathroom benefits from a modern 4 piece white suite with a large built in mirror with 1 rain shower and shower over the bath. Secure allocated parking from the rear and entry code to communal area, this property is one not to be missed.

The property is located a stones throw to the C2C line, a short walk into Southend town centre and the ever so popular Southend Seafront.

The property is currently let on an AST agreement producing an annual rent of £10,560 per annum.

Lounge / Kitchen
17' 1'' x 14' 0'' (5.20m x 4.26m)
Bedroom 1
11' 3'' x 11' 1'' (3.43m x 3.38m)
Bedroom 2
11' 1'' x 8' 4'' (3.38m x 2.54m)
Bathroom
8' 1'' x 6' 9'' (2.46m x 2.06m)
Off-Street Parking

Double Glazing Windows

Tenure
Leasehold Property

Length of Lease - 125 years from December 2003
Freeholder - Fairhold Holdings
Managing Agent - PACE Property Lettings and Management Ltd
Ground Rent - £250 per annum
Service Charge - approx. £3614 per annum

Please NOTE there is currently a Section 20 notice in place. The cost of these works are uncertain at present and prices are still being obtained. Costs will be divided between 74 flats.

Agent Details

PACE Property Lettings and Management Ltd, Southend-on-Sea

01702 967682

Next Steps?

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