3 Bed Flat, Refurb/BRRR, Littlehampton, BN16 2LQ, £250,000

5 Climping Court, Rackham Road, Rustington, West Sussex, BN16 2LQ - 7 months ago

Sold STC
Leasehold
Refurb/BRRR
ROI: 1%
~87 m²
+8 photos

ValuationFair Value

Sold Prices£165K - £500K
Sold Prices/m²£2.2K/m² - £4.4K/m²

 

 

Square Metres

~87.24 m²
Price/m²£2.9K/m²

Value Estimate

£255,000

 

 

End Value (After Refurb)

£349,261

Uplift in Value

+40%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£13,700

Refurb Costs

£41,036

Bridging Loan Interest

£6,563

Total Cash In

£125,548

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£349,261

Agent Fees (1%)

£3,493

Bridging Loan

£187,500

Bridging Loan Interest

£6,563

Flip Profit

£32,720

Local Sold Prices

13 sold prices from £165K to £500K, average is £347.5K. £2.2K/m² to £4.4K/m², average is £3.3K/m².

PriceDateDistanceAddressBeds 
£315K06/210.03 miFlat 9, Downside Court, Rackham Road, Rustington, Littlehampton, West Sussex BN16 2LG3
£330K08/230.04 miFlat 11, Norfolk Court, Chanctonbury Road, Rustington, Littlehampton, West Sussex BN16 2JX3
£365K01/230.1 miBeaufort Court, 36, Millfield Close, Rustington, Littlehampton, West Sussex BN16 2JZ3
£416K03/210.12 miFlat 11, Strand Court, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2NT3
£410K03/210.12 miFlat 8, Strand Court, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2NT3
£295K09/230.12 miFlat 18, Strand Court, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2NT3
£500K09/230.12 miFlat 8, Strand Court, Harsfold Road, Rustington, Littlehampton, West Sussex BN16 2NT3
£347.5K04/210.19 miJellicoe Court, 86, Overstrand Avenue, Rustington, Littlehampton, West Sussex BN16 2JT3
£500K02/210.91 miFlat 9, Fosters, Fosters Close, East Preston, Littlehampton, West Sussex BN16 2TT3
£315K02/231.11 mi51a, Beach Road, Littlehampton, West Sussex BN17 5JG3
£410K10/221.55 mi6, Woodbridge Park, East Preston, Littlehampton, West Sussex BN16 1NL3
£165K05/211.8 mi68, West Way, Wick, Littlehampton, West Sussex BN17 7NA3
£184K05/211.85 mi22, Manning Road, Wick, Littlehampton, West Sussex BN17 7HT3

Local Rents

10 rents from £1.3K/mo to £1.6K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,32512/240.08 miFontwell Close, Rustington3
£1,49512/240.18 miKirdford Close, Rustington, Littlehampton3
£1,49512/240.18 miKirdford Close, Rustington, Littlehampton3
£1,49512/240.18 miKirdford Close, Rustington, Littlehampton3
£1,65012/240.26 miParham Close, Rustington, Littlehampton, West Sussex, BN163
£1,35012/240.26 mi-3
£1,65012/240.36 miNormanhurst Close, Rustington, Littlehampton, West Sussex3
£1,55012/240.4 miSutton Avenue, Rustington3
£1,59903/250.61 mi-3
£1,50012/240.62 miChurch Road Rustington BN163

Local Area Statistics

Population in BN16

28,125

Population in Littlehampton

56,651

Town centre distance

1.25 miles away

Nearest school

0.90 miles away

Nearest train station

1.41 miles away

 

 

Rental growth (12m)

+13%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £250,000

January 23, 2025

Listed for £260,000

September 27, 2024

Floor Plans

Description

  • Second Floor Seafront Apartment +
  • Three Bedrooms +
  • Balcony With Seaviews +
  • Requires Modernisation +
  • Spacious Lounge And Separate Dining Room +
  • Gas Central Heating +
  • Garage | Residents Parking +
  • Remainder of 999 Year Lease | Share Of Freehold +
  • No Forward Chain +
  • EER - TBC +

Introducing this purpose-built second floor seafront apartment in the sought-after location of Rustington. With partially obstructed sea views from the balcony, this property offers three bedrooms, a spacious living room leading onto the balcony, a separate kitchen/diner, and a convenient shower room/w.c.

The apartment boasts gas central heating, double glazing, and comes with no forward chain. The added bonuses of a garage and residents' parking make this property even more desirable. Additionally, the remainder of a generous 958-year lease as well as having a share of the freehold ensures peace of mind for years to come.

With a generous size of 939 sqft, this property consists of three bedrooms and one shower room/w.c, making it an ideal family home or investment opportunity. Although requiring modernisation, the potential that this property holds is endless.

Conveniently situated just 0.8 miles from the centre of Rustington village, residents can enjoy easy access to local amenities. Rustington seafront is a mere 100 metres away, perfect for leisurely strolls along the coast. For those needing to commute, Angmering mainline railway station is just 2 miles away, offering a direct route to London Victoria.

Don't miss out on the chance to view this seafront gem in Rustington. Book your viewing today and envision the endless possibilities that await in this coastal retreat.

Property Information

Tenure – Leasehold - 999 year lease from 29th September 1983 (therefore there are 958 years remaining). In addition there is a share in the freehold.
Service Charge: £1,500.00 per annum (approximately).
Ground Rent: N/A.

Agent Details

Glyn-Jones & Co, Rustington

01903 497288

Next Steps?

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