3 Bed Flat, Single Let, Morecambe, LA3 1DN, £134,950

Sandylands Promenade, Heysham, Morecambe, LA3 1DN - a year ago

Leasehold
BTL
ROI: 5%
~93 m²
+9 photos

ValuationUndervalued

Sold Prices£70K - £270K
Sold Prices/m²£1.3K/m² - £2.7K/m²

 

 

Square Metres

~93 m²
Price/m²£1.5K/m²

Value Estimate

£164,639
BMV22%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£33,738

Stamp Duty & Legal Fees

£7,948

Total Cash In

£41,685

 

 

Cash Out

 

Rent Range

£750 - £950

Rent Estimate

£750

Running Costs/mo

£592

Cashflow/mo

£158

Cashflow/yr

£1,899

ROI

5%

Gross Yield

7%

Local Sold Prices

8 sold prices from £70K to £270K, average is £131.3K. £1.3K/m² to £2.7K/m², average is £2.3K/m².

PriceDateDistanceAddressBeds 
£127.5K05/210.36 mi122, Balmoral Road, Morecambe, Lancashire LA3 1ST3
£97K12/220.73 mi26, Oxcliffe Road, Heysham, Morecambe, Lancashire LA3 1PS3
£89K12/211.11 mi35, Morecambe Street, Morecambe, Lancashire LA4 5HF3
£140K01/231.19 mi1, Bryony Court, Morecambe, Lancashire LA3 3QL3
£70K11/201.2 mi15, Townley Street, Morecambe, Lancashire LA4 5JH3
£141K05/231.94 mi449a, Marine Road East, Morecambe, Lancashire LA4 6AB3
£135K12/222.11 mi6, Moneyclose Grove, Heysham, Morecambe, Lancashire LA3 2XW3
£270K10/202.12 mi101, Bare Lane, Morecambe, Lancashire LA4 6RP3

Local Rents

12 rents from £750/mo to £950/mo, average is £899/mo.

RentDateDistanceAddressBeds 
£95004/240.23 miCumberland View Road, Heysham, Morecambe3
£75012/230.24 mi-3
£89505/240.25 miHampton Road, Heysham3
£95005/240.33 miClarendon Road, Morecambe3
£89908/240.39 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.39 miAlbert Road, Morecambe, Lancashire, LA43
£95008/240.39 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.4 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.4 miChatsworth Road, Morecambe, Lancashire, LA43
£77507/240.41 miBalmoral Road, Morecambe, Lancashire, LA43
£75005/240.44 miWest End, Morecambe, LA43
£75005/240.44 miWest End, Morecambe, LA43

Local Area Statistics

Population in LA3

24,587

Population in Morecambe

50,836

Town centre distance

1.17 miles away

Nearest school

0.30 miles away

Nearest train station

0.78 miles away

 

 

Rental growth (12m)

-2%

Sales demand

Buyer's market

Capital growth (5yrs)

+31%

Property History

Listed for £134,950

April 22, 2024

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE. CLICK ON THE VIDEO TOUR ABOVE +
  • Three Bedroom Maisonette Flat In Morecambe. +
  • Lounge, Dining Room, Kitchen, Plus Rear Yard. +
  • Requires Works Of Improvement - Great Investment Potential. +
  • Sought After Location With Views Of Morecambe Bay. +

Fantastic opportunity to purchase this flat in Morecambe, the property occupies the ground and lower ground floors of the building. It is well presented and situated on the popular Sandylands sea front location.

On internal inspection the property briefly comprises: Lounge, dining room, kitchen and shower room on the ground floor and three bedrooms to the lower ground floor.

Externally the property has communal gardens and excellent access to the beach.

Viewings are highly recommended to appreciate this superb property on offer.
Leasehold information: Term : 999 years from 1 January 1991
Current Ground Rent:
Current Service/Maintenance Charges: £320 per annum towards insurance. All maintenance costs are split equally between three flat.

Council Tax Information: Band A

Agent Note
In order to be able to purchase a property in the UK all agents have a legal requirement to conduct identity checks on all customers involved in the transaction to fulfil their obligations under anti money laundering regulations. Farrell Heyworth outsource this check to a third party and a charge will apply. Please ask the branch for further details.

Agent Details

Farrell Heyworth, Morecambe

01524 967273

Next Steps?

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