2 Bed Flat, Refurb/BRRR, Littlehampton, BN16 2ND, £245,000

16 Bay Tree Court, Marama Gardens, Rustington, West Sussex, BN16 2ND - 1 views - 9 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 1%
~71 m²
+8 photos

ValuationOvervalued

Sold Prices£145K - £460K
Sold Prices/m²£2.3K/m² - £4.5K/m²

 

 

Square Metres

~70.90 m²
Price/m²£3.5K/m²

Value Estimate

£210,375

 

 

End Value (After Refurb)

£281,154

Uplift in Value

+15%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£61,250

Stamp Duty & Legal Fees

£13,450

Refurb Costs

£33,350

Bridging Loan Interest

£6,431

Total Cash In

£116,231

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£281,154

Mortgage (After Refinance)

£210,866

Mortgage LTV

75%

Cash Released

£27,116

Cash Left In

£89,115

Equity

£70,289

Rent Range

£1,150 - £1,450

Rent Estimate

£1,273

Running Costs/mo

£1,153

Cashflow/mo

£120

Cashflow/yr

£1,438

ROI

1%

Gross Yield

6%

Local Sold Prices

50 sold prices from £145K to £460K, average is £259K. £2.3K/m² to £4.5K/m², average is £3.5K/m².

PriceDateDistanceAddressBeds 
£275K10/220 miCherry Tree Court, 23, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£300K08/230.01 miBaytree Court, 15, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£323K08/230.01 miCherry Tree Court, 37, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£255K10/200.01 miApple Tree Court, 7, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£230K10/200.01 miCherry Tree Court, 27, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£230K01/210.01 miCherry Tree Court, 32, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£260K11/200.01 miBaytree Court, 10, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£245K06/210.01 miCherry Tree Court, 28, Marama Gardens, Rustington, Littlehampton, West Sussex BN16 2ND2
£265K03/230.06 miFlat 1, Climping Court, Rackham Road, Rustington, Littlehampton, West Sussex BN16 2LQ2
£258K08/230.06 miFlat 7, Climping Court, Rackham Road, Rustington, Littlehampton, West Sussex BN16 2LQ2
£325K06/230.06 miFlat 25, Strand Court, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2NT2
£335K02/230.06 miFlat 32, Strand Court, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2NT2
£285K06/230.07 miFlat 1, Selsey Court, Chanctonbury Road, Rustington, Littlehampton, West Sussex BN16 2LD2
£317K09/210.09 miApartment 9, Coast, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2QR2
£287K05/210.09 miApartment 8, Coast, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2QR2
£295K06/210.09 miFlat 7, Fitzalan Court, Rackham Road, Rustington, Littlehampton, West Sussex BN16 2LE2
£285K02/210.09 miFlat 16, Fitzalan Court, Rackham Road, Rustington, Littlehampton, West Sussex BN16 2LE2
£250K03/210.09 miFlat 14, Fitzalan Court, Rackham Road, Rustington, Littlehampton, West Sussex BN16 2LE2
£240K01/210.09 miFlat 10, Petworth Court, Rackham Road, Rustington, Littlehampton, West Sussex BN16 2LF2
£315K04/230.1 miFlat 7, Norfolk Court, Chanctonbury Road, Rustington, Littlehampton, West Sussex BN16 2JX2
£270K05/210.1 miFlat 8, Norfolk Court, Chanctonbury Road, Rustington, Littlehampton, West Sussex BN16 2JX2
£145K12/200.13 mi28, Harsfold Close, Rustington, Littlehampton, West Sussex BN16 2QQ2
£237.5K07/230.13 mi7, Harsfold Close, Rustington, Littlehampton, West Sussex BN16 2QQ2
£192.5K10/200.13 mi8, Harsfold Close, Rustington, Littlehampton, West Sussex BN16 2QQ2
£350K02/230.13 miBeaufort Court, 37, Millfield Close, Rustington, Littlehampton, West Sussex BN16 2JZ2
£240K11/200.15 miAusten Court, 47, Millfield Close, Rustington, Littlehampton, West Sussex BN16 2JZ2
£315K04/210.15 miFlat 4, Pacific House, Harsfold Close, Rustington, Littlehampton, West Sussex BN16 2SS2
£300K10/200.15 miFlat 7, Pacific House, Harsfold Close, Rustington, Littlehampton, West Sussex BN16 2SS2
£350K05/230.16 miFlat 7, Caspian House, Harsfold Close, Rustington, Littlehampton, West Sussex BN16 2QT2
£250K09/230.17 mi89, The Martlets, Rustington, Littlehampton, West Sussex BN16 2UQ2
£258K03/210.17 mi81, The Martlets, Rustington, Littlehampton, West Sussex BN16 2UQ2
£227.5K03/210.17 mi89, The Martlets, Rustington, Littlehampton, West Sussex BN16 2UQ2
£270K01/230.21 miFlat 7, Rawson Court, Sea Lane, Rustington, Littlehampton, West Sussex BN16 2SD2
£250K05/230.21 miFlat 8, Rawson Court, Sea Lane, Rustington, Littlehampton, West Sussex BN16 2SD2
£215K04/230.21 mi25, The Martlets, Rustington, Littlehampton, West Sussex BN16 2UA2
£227K06/210.22 miDrake Court, 23, Overstrand Avenue, Rustington, Littlehampton, West Sussex BN16 2JS2
£252K02/230.22 miGrenville Court, 27, Overstrand Avenue, Rustington, Littlehampton, West Sussex BN16 2JS2
£290K11/220.22 miHardy Court, 38, Overstrand Avenue, Rustington, Littlehampton, West Sussex BN16 2JU2
£320K04/210.25 miJellicoe Court, 58, Overstrand Avenue, Rustington, Littlehampton, West Sussex BN16 2JT2
£350K07/230.25 miJellicoe Court, 72, Overstrand Avenue, Rustington, Littlehampton, West Sussex BN16 2JT2
£195K11/200.29 miFlat 9, Shaftesbury Court, Shaftesbury Road, Rustington, Littlehampton, West Sussex BN16 2HU2
£225K10/230.29 miFlat 12a, Shaftesbury Court, Shaftesbury Road, Rustington, Littlehampton, West Sussex BN16 2HU2
£412K12/220.34 miFlat 18, Heritage Place, Broadmark Lane, Rustington, Littlehampton, West Sussex BN16 2GY2
£275K03/230.34 mi4, Summers Close, Rustington, Littlehampton, West Sussex BN16 2HY2
£460K09/210.35 mi97, Whitehorses Way, Littlehampton, West Sussex BN17 6NL2
£250K03/230.37 mi2, Hazel Lodge, Rustington, Littlehampton, West Sussex BN16 2RW2
£225K12/200.37 mi4, Hazel Lodge, Rustington, Littlehampton, West Sussex BN16 2RW2
£253K10/230.4 miFlat 2, Ilex House, Cudlow Garden, Rustington, Littlehampton, West Sussex BN16 2RL2
£255K03/230.4 miFlat 6, Ilex House, Cudlow Garden, Rustington, Littlehampton, West Sussex BN16 2RL2
£255K11/230.42 mi1, Mulberry Lodge, Rustington, Littlehampton, West Sussex BN16 2RN2

Local Rents

12 rents from £1.1K/mo to £1.4K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,20012/240.17 miAegean House Harsfold Close, Rustington, West Sussex, BN162
£1,20012/240.17 miChurchill Court, Rustington2
£1,15012/240.21 miOverstrand Avenue, Rustington, Littlehampton, West Sussex2
£1,15007/230.29 mi-2
£1,19511/240.29 mi-2
£1,45012/240.34 miBroadmark Lane, Rustington, Littlehampton, West Sussex, BN162
£1,25012/240.39 miBroadmark Lane, Rustington2
£1,32512/240.46 miSutton Avenue, Rustington, Littlehampton, West Sussex, BN162
£1,40012/240.48 miRustington2
£1,40003/250.58 mi-2
£1,20012/240.6 miDolphin Way, Rustington, Littlehampton, West Sussex, BN162
£1,35012/240.61 miOld Manor Road, Rustington2

Local Area Statistics

Population in BN16

28,125

Population in Littlehampton

56,651

Town centre distance

1.24 miles away

Nearest school

0.90 miles away

Nearest train station

1.45 miles away

 

 

Rental growth (12m)

+13%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £245,000

January 3, 2025

Listed for £265,000

July 22, 2024

Floor Plans

Description

  • Spacious First Floor Seafront Apartment With Lift Access +
  • Balcony With Sea Views +
  • Two Double Bedrooms With Built-In Wardrobes +
  • Spacious Double Aspect Lounge / Diner +
  • Requires Modernisation +
  • Gas Central Heating +
  • Garage with Electric Up-And-Over Door +
  • Additional Allocated Car Parking Space Plus Visitor Bays +
  • No Forward Chain +
  • EER - C70 +

Introducing a rare opportunity to own a charming first floor seafront apartment in the sought-after location of Rustington seafront. This spacious property boasts lift access, two double bedrooms with built-in wardrobes, and a bright double aspect lounge / diner offering stunning sea views from a side window as well as the balcony.

With 980 years remaining on the lease, this property features a kitchen, gas central heating, and double glazing, providing a comfortable living space. In addition, the apartment benefits from a garage with an electric up-and-over door, an allocated car parking space, and various visitor bays.

Conveniently located just off Rustington seafront, residents can enjoy easy access to local amenities, including the nearby Waitrose supermarket. The property also features a shower room, a separate w.c, and is offered with no forward chain.

With a size of 763 sqft, this property presents an exciting opportunity for those looking to enhance and modernize their living space. Don't miss out on the chance to view this unique seafront property in Rustington. Contact us today to schedule a viewing.

Marama Gardens is located directly opposite the foreshore, with direct sea views. There is a promenade close by providing a seaside stroll into Littlehampton, with Beach Cafes along the way. The Wave Leisure centre is close by, and other leisure activities are close to hand. In the opposite direction, a pleasant greensward walk takes you towards the village of East Preston.

Rustington’s comprehensive village centre can be found within approximately a mile, with a wide range of retailers, restaurants and coffee shops. Doctor’s surgeries, dentists, along with comprehensive amenities are all nearby. A good local bus service also runs along the seafront.

Property Information

Tenure – Leasehold - 999 year lease from 30th September 2005 (therefore there are 980 years remaining).
Service Charge: £2,362.60 per annum (yearly accounts up to 28th September 2024) plus additional levy of £19.65 to Marama Gardens Management Ltd.
Ground Rent: N/A

Agent Details

Glyn-Jones & Co, Rustington

01903 497288

Next Steps?

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