7 Bed Terraced House, Refurb/BRRR, Morecambe, LA4 4HZ, £120,000

Albert Road, Morecambe, LA4 4HZ - 79 views - 6 months ago

Refurb/BRRR
~217 m²
+7 photos

ValuationFair Value

Sold Prices£77K - £595K
Sold Prices/m²£527/m² - £6K/m²

 

 

Square Metres

~217 m²
Price/m²£553/m²

Value Estimate

£122,400

 

 

End Value (After Refurb)

£277,924

Uplift in Value

+132%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£4,800

Refurb Costs

£87,704

Bridging Loan Interest

£3,150

Total Cash In

£127,404

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£277,924

Agent Fees (1%)

£2,779

Bridging Loan

£90,000

Bridging Loan Interest

£3,150

Flip Profit

£57,741

Local Sold Prices

50 sold prices from £77K to £595K, average is £160K. £527/m² to £6K/m², average is £1.3K/m².

PriceDateDistanceAddressBeds 
£177K05/210.06 mi72, Albert Road, Morecambe, Lancashire LA4 4HY4
£95K06/230.08 mi75, Westminster Road, Morecambe, Lancashire LA4 4JE4
£90K06/210.13 mi37, Clarendon Road East, Morecambe, Lancashire LA4 4HR4
£181K01/230.13 mi34, Westminster Road, Morecambe, Lancashire LA4 4JD4
£77K11/200.15 mi16, Scott Road, Morecambe, Lancashire LA3 1AJ4
£185K01/210.15 mi11, Chatsworth Road, Morecambe, Lancashire LA4 4JG4
£125K04/210.25 mi114, Sefton Road, Heysham, Morecambe, Lancashire LA3 1UE4
£80K02/210.27 mi12, Brunswick Road, Heysham, Morecambe, Lancashire LA3 1RU4
£125K06/230.27 mi17, Marlborough Road, Heysham, Morecambe, Lancashire LA3 1TL4
£155K01/230.29 mi192, Westminster Road, Morecambe, Lancashire LA3 1UN4
£280K06/210.37 mi12, Woodhill Close, Morecambe, Lancashire LA4 4PG4
£105K09/210.38 mi25, Cavendish Road, Heysham, Morecambe, Lancashire LA3 1TX4
£132K02/210.4 mi23, Stanley Road, Heysham, Morecambe, Lancashire LA3 1UP4
£169K01/230.43 mi4, Mears Beck Close, Heysham, Morecambe, Lancashire LA3 1UX4
£159.9K03/210.46 mi27, Woodhill Lane, Morecambe, Lancashire LA4 4NL4
£158K07/210.47 mi67, Granville Road, Heysham, Morecambe, Lancashire LA3 1ED4
£140K09/210.51 mi7, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£147K08/210.51 mi8, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£160K10/210.51 mi16, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£95K04/210.51 mi18, Norton Avenue, Heysham, Morecambe, Lancashire LA3 1HE4
£430K11/220.54 mi18, St Johns Grove, Heysham, Morecambe, Lancashire LA3 1ET4
£215K06/210.54 mi160, West End Road, Morecambe, Lancashire LA4 4EF4
£217.5K02/210.55 mi36, St Johns Road, Heysham, Morecambe, Lancashire LA3 1EX4
£235K04/210.61 mi1, Wentworth Crescent, Morecambe, Lancashire LA3 3NZ4
£205K10/210.63 mi50, Battismore Road, Morecambe, Lancashire LA4 4QG4
£138K04/210.67 mi4, Rydal Grove, Heysham, Morecambe, Lancashire LA3 1DU4
£139.9K11/200.67 mi8, Hestham Parade, Morecambe, Lancashire LA4 4QE4
£206K02/210.7 mi91, Norton Road, Heysham, Morecambe, Lancashire LA3 1PG4
£83K03/210.7 mi186, Euston Grove, Morecambe, Lancashire LA4 5LJ4
£115K09/210.71 mi215, Euston Grove, Morecambe, Lancashire LA4 5LH4
£95K04/210.72 mi22, Central Drive, Morecambe, Lancashire LA4 5JU4
£325K04/210.73 mi124, Sandylands Promenade, Heysham, Morecambe, Lancashire LA3 1NS4
£595K01/230.73 miWhittam House, Oxcliffe Road, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3EG4
£375K01/230.76 mi26, Hampsfell Drive, Morecambe, Lancashire LA4 4TT4
£125K03/210.81 mi18, King Street, Morecambe, Lancashire LA4 5LP4
£230K04/210.83 mi14, Stansey Avenue, Heysham, Morecambe, Lancashire LA3 2AF4
£171K05/230.84 mi10, Bateman Grove, Morecambe, Lancashire LA4 5TB4
£375K01/230.84 mi17, Cathedral Drive, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3RE4
£296K09/220.84 mi24, Cathedral Drive, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3RE4
£105K10/200.85 mi46, Clarence Street, Morecambe, Lancashire LA4 5EX4
£180K09/210.86 mi41, Crofters Fold, Heysham, Morecambe, Lancashire LA3 2AH4
£295K03/210.89 mi7, Wells Close, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3RS4
£350K03/230.91 mi19, The Cliffs, Heysham, Morecambe, Lancashire LA3 1NY4
£292.5K02/210.92 mi25, Twemlow Parade, Heysham, Morecambe, Lancashire LA3 1PD4
£138K08/210.93 mi7, Oxford Street, Morecambe, Lancashire LA4 5JF4
£127K01/210.94 mi32, Oxford Street, Morecambe, Lancashire LA4 5JG4
£127K01/210.94 mi32, Oxford Street, Morecambe, Lancashire LA4 5JG4
£80K12/220.96 mi21, Oxford Street, Morecambe, Lancashire LA4 5JF4
£339.5K10/220.96 mi5, Priory Close, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3RL4
£220K05/210.97 mi22, Priorsgate, Heaton With Oxcliffe, Morecambe, Lancashire LA3 3RN4

Local Rents

19 rents from £750/mo to £1.6K/mo, average is £950/mo.

RentDateDistanceAddressBeds 
£95008/240.03 miChatsworth Road, Morecambe, Lancashire, LA43
£77507/240.03 miBalmoral Road, Morecambe, Lancashire, LA43
£89908/240.06 miAlbert Road, Morecambe, Lancashire, LA43
£89908/240.06 miAlbert Road, Morecambe, Lancashire, LA43
£99505/240.07 miWest End4
£75005/240.07 miWest End, Morecambe, LA43
£75005/240.07 miWest End, Morecambe, LA43
£95008/240.07 miChatsworth Road, Morecambe, Lancashire, LA43
£95008/240.07 miChatsworth Road, Morecambe, Lancashire, LA43
£95005/240.1 miClarendon Road, Morecambe3
£75012/230.16 mi-3
£1,25007/240.16 miWestminster Road, Morecambe5
£1,55003/240.2 mi-8
£1,20006/240.2 mi-8
£89505/240.39 miHampton Road, Heysham3
£82507/240.42 miHampton Road, Heysham, Morecambe4
£75002/240.42 mi-3
£95004/240.47 miCumberland View Road, Heysham, Morecambe3
£1,25012/230.5 mi-4

Local Area Statistics

Population in LA4

26,244

Population in Morecambe

50,836

Town centre distance

0.80 miles away

Nearest school

0.10 miles away

Nearest train station

0.52 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+28%

Property History

Listed for £120,000

October 7, 2024

Sold for £22,500

2001

Floor Plans

Description

  • VIRTUAL VIEWING AVAILABLE. CLICK ON THE VIDEO TOUR ABOVE +
  • Potential Seven Bedroom Mid Terrace Property In Morecambe +
  • Lounge, Dining Room, Kitchen, Basement Plus Rear Yard +
  • Potential For Seven Good Size Bedrooms & Two Bathrooms +
  • Great Location, Close to Local Amenities And Transport Links +

We are pleased to offer for sale a substantial terraced house located in a popular residential location of Morecambe.

There are two reception rooms, spacious kitchen, two basement rooms and access to a good sized rear yard. The property is in need of renovation but has potential for seven good sized bedrooms and two bathrooms.

Situated in a good location and offers great potential for someone looking for a project or a developer.

Council Tax Information: Band B

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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