2 Bed Flat, Refurb/BRRR, Ilford, IG1 1NB, £200,000

62 Thames View, Ilford, IG1 1NB. - 32 views - 8 months ago

Leasehold
Cash
Refurb/BRRR
ROI: 5%
~68 m²
+4 photos

ValuationFair Value

Sold Prices£129K - £554.8K
Sold Prices/m²£2.3K/m² - £7.8K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.9K/m²

Value Estimate

£202,000

 

 

End Value (After Refurb)

£324,863

Uplift in Value

+62%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£50,000

Stamp Duty & Legal Fees

£7,200

Refurb Costs

£36,033

Bridging Loan Interest

£5,250

Total Cash In

£100,233

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£324,863

Agent Fees (1%)

£3,249

Bridging Loan

£150,000

Bridging Loan Interest

£5,250

Flip Profit

£71,381

Local Sold Prices

48 sold prices from £129K to £554.8K, average is £280K. £2.3K/m² to £7.8K/m², average is £5K/m².

PriceDateDistanceAddressBeds 
£160K02/210.03 mi12, Centreway, Ilford, Greater London IG1 1ND2
£138K07/210.17 mi33d, Grosvenor Road, Ilford, Greater London IG1 1LD2
£400K09/220.18 mi115a, Thorold Road, Ilford, Greater London IG1 4EZ2
£360K06/210.21 mi73, Balfour Road, Ilford, Greater London IG1 4HR2
£350K06/230.21 mi61a, Balfour Road, Ilford, Greater London IG1 4HR2
£296K08/210.23 mi78a, Wellesley Road, Ilford, Greater London IG1 4JZ2
£140K10/200.29 miFlat 32, Heron Court, Morland Road, Ilford, Greater London IG1 4EW2
£305K12/200.29 mi16a, Bathurst Road, Ilford, Greater London IG1 4LA2
£290K12/220.32 mi25, Meath Road, Ilford, Greater London IG1 1JA2
£554.8K06/210.35 mi81, Wellesley Road, Ilford, Greater London IG1 4LJ2
£290K11/220.38 mi21, Connaught Road, Ilford, Greater London IG1 1RL2
£325K04/210.43 mi16b, Valentines Road, Ilford, Greater London IG1 4SA2
£360K03/210.48 mi40c, York Road, Ilford, Greater London IG1 3AF2
£322K03/230.53 miFlat 38, De Havilland Square, Piper Way, Ilford, Greater London IG1 4DE2
£240K02/210.53 mi104, Riverdene Road, Ilford, Greater London IG1 2EB2
£283K07/210.58 mi61, Piper Way, Ilford, Greater London IG1 4FE2
£310K10/220.58 mi6, Lowbrook Road, Ilford, Greater London IG1 2HD2
£515K05/210.59 mi115, Northbrook Road, Ilford, Greater London IG1 3BL2
£247K05/210.63 mi26, Lowbrook Road, Ilford, Greater London IG1 2HB2
£215K02/210.64 mi4, Friars Close, Ilford, Greater London IG1 4AZ2
£305K10/220.64 mi19, Friars Close, Ilford, Greater London IG1 4AZ2
£277K12/220.64 mi50, Friars Close, Ilford, Greater London IG1 4AZ2
£280K06/230.64 mi61, Friars Close, Ilford, Greater London IG1 4AZ2
£282.5K07/210.66 mi58a, Vicarage Lane, Ilford, Greater London IG1 4AN2
£129K04/230.7 mi1027, Romford Road, Manor Park, London, Greater London E12 5LH2
£245K11/220.78 miFlat 46, Charlbury House, Grantham Road, Manor Park, London, Greater London E12 5NR2
£295K12/200.78 mi45b, Endsleigh Gardens, Ilford, Greater London IG1 3EQ2
£280K01/210.8 mi78a, Devere Gardens, Ilford, Greater London IG1 3EE2
£207.5K06/210.81 mi56, Pretoria Road, Ilford, Greater London IG1 2HW2
£250K12/200.83 mi63, Lynn Road, Ilford, Greater London IG2 7DU2
£265K01/230.85 mi4 Vicarage Court, Baxter Road, Ilford, Greater London IG1 2HN2
£230K04/230.85 mi46, Dellow Close, Ilford, Greater London IG2 7EB2
£218.2K12/220.86 mi139, Aldborough Road South, Ilford, Greater London IG3 8HT2
£295K06/210.88 mi24a, Cowley Road, Ilford, Greater London IG1 3JL2
£275K05/230.88 mi75, Dellow Close, Ilford, Greater London IG2 7ED2
£295K08/220.89 mi86b, Sheringham Avenue, London, Greater London E12 5PE2
£230K03/210.9 mi11, Blackthorn Road, Ilford, Greater London IG1 2NS2
£305K02/210.92 mi161, Aldborough Road South, Ilford, Greater London IG3 8HU2
£290K05/220.93 mi65, Stainforth Road, Ilford, Greater London IG2 7EL2
£250K04/210.94 mi125, Blackthorn Road, Ilford, Greater London IG1 2PZ2
£243K09/220.94 miFlat 14, Springfield Court, Forsythia Close, Ilford, Greater London IG1 2BN2
£250K08/220.96 mi211, Blackthorn Road, Ilford, Greater London IG1 2PZ2
£240K02/230.96 mi151, Blackthorn Road, Ilford, Greater London IG1 2PZ2
£129K03/210.98 mi75, Lavender Place, Ilford, Greater London IG1 2BG2
£235K05/230.98 mi81, Lavender Place, Ilford, Greater London IG1 2BG2
£200K09/220.98 mi107, Lavender Place, Ilford, Greater London IG1 2BG2
£296.8K06/230.99 mi171, Gainsborough Avenue, London, Greater London E12 6JN2
£320K07/221 miFlat A, 202, Sheringham Avenue, London, Greater London E12 5PQ2

Local Rents

50 rents from £1.6K/mo to £3K/mo, average is £1.8K/mo.

RentDateDistanceAddressBeds 
£1,70004/240.02 miCity View, Centreway Apartments, IG12
£1,75003/250.02 mi-2
£1,80003/250.02 mi-2
£1,70002/240.02 mi-2
£1,92504/240.02 mi-2
£1,65005/240.02 mi-2
£1,85003/250.02 mi-2
£1,95004/250.02 mi-2
£1,80002/240.02 miSpectrum Tower, 2-20 Hainault Street, Ilford, IG12
£1,80003/250.02 mi-2
£2,20012/240.02 mi-2
£2,30004/240.02 miCityview Centreway Apartments, Ilford, IG12
£1,65005/240.02 miSpectrum Tower, 2-20 Hainault Street, Ilford, Essex, IG12
£1,72501/250.02 mi-2
£2,00012/240.02 mi-2
£1,72512/240.02 mi-2
£1,80003/250.02 mi-2
£1,90004/250.02 mi-2
£1,95003/250.02 mi-2
£1,90004/250.02 mi-2
£1,85004/250.02 mi-2
£1,90002/250.02 mi-2
£1,87503/250.03 mi-2
£1,90004/250.03 mi-2
£1,90012/240.03 mi-2
£1,82502/250.03 mi-2
£1,76005/240.04 mi-2
£1,85004/250.04 mi-2
£2,00004/250.07 mi-2
£1,90004/240.08 miRaphael House, 250 High Street, Ilford, IG12
£1,90004/240.08 mi-2
£1,75003/250.08 mi-2
£1,75003/250.08 mi-2
£1,80005/240.08 miRaphael House, 250 High Street, Ilford, Essex, IG12
£1,77512/240.08 mi-2
£2,00005/240.08 miRaphael House, High Road, IG12
£3,00004/250.08 mi-2
£1,90012/240.08 mi-2
£1,90012/240.08 mi-2
£1,77501/250.08 mi-2
£1,77502/250.08 mi-2
£2,09502/250.08 mi-2
£1,95004/250.08 mi-2
£1,70005/240.08 mi-2
£1,75005/240.08 mi-2
£1,75005/240.08 mi-2
£1,70004/240.08 miHigh Street, Ilford, IG12
£1,75004/240.08 miRaphael House, Ilford, IG12
£1,72505/240.08 miRaphael House, Ilford, IG12
£1,70001/250.09 mi-2

Local Area Statistics

Population in IG1

63,569

Population in Ilford

181,468

Town centre distance

1.23 miles away

Nearest school

0.20 miles away

Nearest train station

0.34 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+7%

Sales demand

Buyer's market

Capital growth (5yrs)

+28%

Property History

Listed for £200,000

August 2, 2024

Floor Plans

Description

  • Security Entryphone System +
  • Two Bedroom Seventh Floor Apartment +
  • Juliette Balcony +
  • 105 year Lease Remaining +
  • Excellent Investment Opportunity +
  • Ilford Town Centre Location +
  • Walking Distance To Ilford Town Centre +
  • No Onward Chain +
  • Ilford Station Elizabeth Line +

Mortgagees in possession are now in receipt of an offer for the sum of £180,000 for 62 Thames View, Ilford, IG1 1NB.

Anyone wishing to place an offer on the property should contact haart, 184-188 Cranbrook Road, Ilford, IG1 4LU before exchange of contracts or within the next 7 days whichever is sooner

CASH BUYERS
We are offering a two-bedroom, seventh-floor apartment within a purpose-built block that presents a fantastic opportunity for cash buyers. Constructed in 2007, this apartment is situated in the heart of Ilford Town Centre, making it an excellent investment for those interested in the buy-to-let market. The property requires some internal decoration, providing the perfect canvas for investors looking to undertake a rewarding project.

Property Details
The apartment is located in a modern building, designed to meet contemporary living standards. Its position on the seventh floor affords potential residents with a pleasant view of the surrounding area. The building's location is one of its key selling points, nestled amidst a vibrant area teeming with a variety of shops and restaurants. This ensures that future tenants will have everything they need within a short walking distance, enhancing the property's appeal.

Connectivity and Commute
One of the standout features of this property is its proximity to Ilford Station, which is a part of the Elizabeth Line. This line is highly coveted for its efficient and fast services, making it an ideal choice for daily commuters. Residents will benefit from quick and convenient travel options to central London and other key destinations, further adding to the property's attractiveness for potential tenants.

Investment Potential
The property is being sold chain-free, simplifying the buying process and potentially allowing for a quicker transaction. Its central location and need for internal decoration offer a unique opportunity for investors willing to undertake some renovation work. Once refurbished, this apartment could yield a significant return on investment, especially given the high demand for rental properties in the area.

Viewing Arrangements
We invite interested cash buyers to book a viewing and explore the potential this property holds. This is an excellent chance to invest in a well-located apartment that, with some care and attention, can be transformed into a highly desirable rental property. Please contact us to arrange your viewing and take the first step towards securing this promising

Agent Details

haart, Ilford

020 3840 3859

Next Steps?

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