2 Bed Flat, Refurb/BRRR, London, SE28 0LL, £250,000

Hill View Drive, London, Greater London, SE28 0LL - 12 views - 6 months ago

Sold STC
Leasehold
Motivated
Refurb/BRRR
ROI: 5%
~68 m²
+4 photos

ValuationFair Value

Sold Prices£108.5K - £580K
Sold Prices/m²£3.4K/m² - £6.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.7K/m²

Value Estimate

£255,000

 

 

End Value (After Refurb)

£314,874

Uplift in Value

+26%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£36,000

Bridging Loan Interest

£6,563

Total Cash In

£115,513

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£314,874

Mortgage (After Refinance)

£236,155

Mortgage LTV

75%

Cash Released

£48,655

Cash Left In

£66,857

Equity

£78,718

Rent Range

£1,300 - £3,800

Rent Estimate

£1,808

Running Costs/mo

£1,366

Cashflow/mo

£442

Cashflow/yr

£5,309

ROI

5%

Gross Yield

9%

Local Sold Prices

50 sold prices from £108.5K to £580K, average is £307.8K. £3.4K/m² to £6.5K/m², average is £4.6K/m².

PriceDateDistanceAddressBeds 
£260K08/210.15 mi10, Hill View Drive, London, Greater London SE28 0LH2
£260K04/230.19 mi4, Marathon Way, London, Greater London SE28 0JH2
£273K09/220.2 mi43, Battery Road, London, Greater London SE28 0JL2
£260K01/210.25 mi37, Miles Drive, London, Greater London SE28 0NE2
£197.5K10/200.27 miFlat 6, Charlesmere Gardens, Thames Reach, Thamesmead, London, Greater London SE28 0NG2
£283.5K09/220.27 mi20, Warrior Close, London, Greater London SE28 0NL2
£295K10/220.27 mi23, Warrior Close, London, Greater London SE28 0NL2
£265K03/230.29 miFlat 26, Trident House, Merbury Road, West Thamesmead, London, Greater London SE28 0NB2
£245K11/220.3 mi253, Tideslea Path, London, Greater London SE28 0NH2
£310K04/210.31 mi226, Tideslea Path, London, Greater London SE28 0NH2
£273K11/200.37 miFlat 5, Tideham House, Merbury Close, London, Greater London SE28 0LW2
£235K03/230.38 mi104, Waterside Close, London, Greater London SE28 0GS2
£310K08/210.61 mi23, Erebus Drive, London, Greater London SE28 0GB2
£334K08/230.69 mi62, Pier Way, London, Greater London SE28 0GP2
£325K07/230.69 mi64, Pier Way, London, Greater London SE28 0GP2
£314K11/220.69 mi71, Pier Way, London, Greater London SE28 0GQ2
£265K06/210.7 mi65, Pier Way, London, Greater London SE28 0GQ2
£285K07/230.78 mi40, Garrick Drive, London, Greater London SE28 0EQ2
£275K07/230.82 miFlat 2, Eastgate House, Allenby Road, London, Greater London SE28 0BL2
£213K02/210.82 mi37, Cookhill Road, London, Greater London SE2 9PD2
£328.9K10/220.85 miFlat 14, Wilson Court, Allenby Road, London, Greater London SE28 0AL2
£322K11/220.85 miFlat 7, Wilson Court, Allenby Road, London, Greater London SE28 0AL2
£325K06/230.85 miFlat 11, Wilson Court, Allenby Road, London, Greater London SE28 0AL2
£114K05/210.85 miFlat 13, Wilson Court, Allenby Road, London, Greater London SE28 0AL2
£255K05/210.86 mi4, Bylands Close, London, Greater London SE2 9PQ2
£340K12/220.88 mi119, Erebus Drive, London, Greater London SE28 0GB2
£108.5K10/220.88 miFlat 30, Long Acre House, Pettacre Close, London, Greater London SE28 0PA2
£282.4K10/200.88 miFlat 37, Long Acre House, Pettacre Close, London, Greater London SE28 0PA2
£400K11/210.88 mi62, Inverness Mews, London, Greater London E16 2SP2
£325K10/220.88 mi16, Pettacre Close, London, Greater London SE28 0AR2
£330K06/230.89 mi75, Pettacre Close, London, Greater London SE28 0BX2
£470K10/210.9 miApartment 193, Building 50, Argyll Road, London, Greater London SE18 6PL2
£465K04/230.9 miApartment 223, Building 50, Argyll Road, London, Greater London SE18 6PL2
£330K11/220.9 mi52, Pettacre Close, London, Greater London SE28 0GX2
£215K05/210.92 mi38, Combwell Crescent, London, Greater London SE2 9NB2
£205K06/210.92 mi36, Combwell Crescent, London, Greater London SE2 9NB2
£440K05/210.93 miApartment 194, Building 50, Argyll Road, London, Greater London SE18 6PL2
£405K09/210.93 miApartment 296, Building 50, Argyll Road, London, Greater London SE18 6PP2
£455K07/230.93 miApartment 27, Building 50, Argyll Road, London, Greater London SE18 6PG2
£467.5K11/210.93 miApartment 209, Building 50, Argyll Road, London, Greater London SE18 6PL2
£485K04/210.93 miApartment 126, Building 50, Argyll Road, London, Greater London SE18 6PJ2
£450K03/230.93 miApartment 69, Building 50, Argyll Road, London, Greater London SE18 6PG2
£307.5K04/210.93 miFlat 5, Paddle Steamer House, Pettacre Close, London, Greater London SE28 0PD2
£308K01/230.93 miFlat 8, Paddle Steamer House, Pettacre Close, London, Greater London SE28 0PD2
£313K01/230.93 miFlat 12, Paddle Steamer House, Pettacre Close, London, Greater London SE28 0PD2
£290K04/230.94 mi113, Felixstowe Court, London, Greater London E16 2RS2
£580K02/230.94 miFlat 33, Building 49, Argyll Road, London, Greater London SE18 6XB2
£247K01/230.95 mi279, Greenhaven Drive, Thamesmead, London, Greater London SE28 8FY2
£282K06/210.95 mi28, Swansea Court, London, Greater London E16 2RT2
£450K03/210.96 miFlat 29, Building 49, Argyll Road, London, Greater London SE18 6XB2

Local Rents

50 rents from £1.3K/mo to £3.8K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,65008/240.17 miMartins Place, West Thamesmead, London SE282
£1,80011/240.18 mi-2
£1,65010/240.18 mi-2
£1,75008/240.2 miMarathon Way, Thamesmead, London2
£1,49503/250.21 mi-2
£2,00009/240.25 miMiles Close, West Thamesmead, SE282
£2,00009/240.25 mi-2
£1,60010/240.26 mi-2
£1,83002/250.26 mi-2
£1,75008/240.27 mi-2
£1,80008/240.27 miWarrior Close, London, SE282
£1,60008/240.27 mi-2
£1,55008/240.27 mi-2
£1,70009/240.27 mi-2
£1,70010/240.27 mi-2
£1,55011/240.27 mi-2
£1,70003/250.27 mi-2
£1,80010/240.27 mi-2
£1,80008/240.27 miWest Thamesmead, London, SE282
£1,85010/240.28 mi-2
£1,85011/240.28 mi-2
£1,62501/250.28 mi-2
£1,59903/250.28 mi-2
£1,85008/240.28 miTrident House, Merbury Road, West Thamesmead, London, SE28 0NB2
£1,65002/250.28 mi-2
£1,80011/240.28 mi-2
£1,60012/240.28 mi-2
£1,70012/240.28 mi-2
£1,70002/250.28 mi-2
£1,90001/250.3 mi-2
£1,80008/240.3 miTideslea Path, Thamesmead West, SE28 0NH2
£1,69508/240.3 miTideslea Path, West Thamesmead, London SE282
£1,80003/250.3 mi-2
£1,80009/240.31 mi-2
£1,30001/250.31 mi-2
£1,90008/240.31 miTideslea Path, London, SE282
£2,00003/250.31 mi-2
£1,70008/240.33 mi-2
£1,60008/240.34 miTideslea Path, West Thamesmead, SE28 0LY2
£1,55008/240.34 miTideslea Path, London, Greater London, SE282
£1,70008/240.36 miTideslea Path, Woolwich, SE282
£3,80001/250.36 mi-2
£3,80001/250.36 mi-2
£1,70009/240.37 mi-2
£1,95002/250.38 mi-2
£1,70008/240.39 mi-2
£1,70008/240.39 mi-2
£1,70003/250.39 mi-2
£1,50008/240.39 mi-2
£1,69502/250.4 mi-2

Local Area Statistics

Population in SE28

29,318

Population in London

4,771,921

Town centre distance

8.77 miles away

Nearest school

0.10 miles away

Nearest train station

0.94 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+11%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £250,000

October 9, 2024

Sold for £160,000

2007

Sold for £134,950

2003

Floor Plans

Description

  • Council Tax Band C, Leasehold 125 Years From 1st January 2002 +
  • Ground Rent & Service Charge £150 Combined Per Calendar Month +
  • Allocated Parking Space +
  • Master Bedroom with En-suite +
  • Fitted Kitchen and Family Bathroom +
  • Spacious Throughout with Storage Space +
  • Two Double Bedrooms +
  • Needs Modernisation +
  • Excellent Transport Links & Great Location +
  • Viewing Highly Advised +

Nested close to the River Thames and within walking distance to Plumstead station for access into London city centre this two bedroom property is a must view!

This apartment is located in London with close proximity to a range of amenities, schools, shopping facilities, food/drink establishments and more. The area also offers excellent road and transport links for travel both locally and further afield.

The accommodation briefly comprises a spacious living room and a fitted kitchen. Two well-proportioned bedrooms with the master bedroom featuring a en-suite and a three-piece bathroom with a tub-shower combination, a hand wash basin and a WC.

Externally, the property benefits from an allocated parking space.

This home is an excellent find. We anticipate a high amount of interest and as such we would recommend that any interested buyers inquire to arrange a viewing at the earliest convenience to ensure the opportunity is not missed.

Premium Fast Sale

The innovative Premium Fast Sale Plus method from Springbok Properties is a secure and straightforward way to buy property. It works like a typical sale, with a number of added benefits to the buyer.

Benefits

o Carefully implemented security measures
o A speedy process
o Realistically priced properties
o A Buy it Now option (ask for further information on this feature from our advisors)
o A significantly reduced chance of fall-throughs
o No risk of being "gazumped"
o The full focus of our highly motivated team

Springbok Properties' Premium Fast Sale Plus puts you in the driving seat thanks to our fast and secure methods.

All properties are competitively priced and carefully managed by motivated sellers for a quick, stress-free transaction.

Deposit

Sales can be secured with a reservation deposit of £5,000. This forms part of the final purchase price and is NOT an extra cost.

This deposit ensures that the property is taken off the market as soon as a sale is agreed. It is then exclusively reserved for you, eliminating gazumping, time wasting and financial loss.

An administration fee of £396 is required in order to draw up an exclusive legally binding contract between the buyer and seller. This gives the buyer exclusive rights to purchase within a pre-agreed timeframe.

Exclusivity

Following the payment of the above amount, Springbok Properties will facilitate a fixed exclusivity period (approximately 12 weeks). During this time, surveys should be arranged and preparations made for the exchange of contracts. The property will be reserved, so there will be no risk of gazumping.

Process

Our Premium Fast Sale Plus follows the below process:

STEP 1 - Register your interest
STEP 2 - Prepare your finances for the purchase
STEP 3 - Arrange a viewing
STEP 4 - Make an offer
STEP 5 - Secure your sale using our secure system
STEP 6 - Exchange and complete

Don't miss out on the chance to purchase this property. Call us today for further information and to arrange a viewing.

If you're interested in this property, we urge you to contact us immediately to arrange an early viewing and get the process started. This will help you to avoid missing out on this opportunity.

Springbok Properties' innovative Premium Fast Sale Plus is a secure and straightforward way to buy property.

Please note: to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Please call us now to book an appointment.

We highly recommend early viewing as this property is priced relatively low and is likely to generate quite an interest.

Please call us now to book an appointment.

Call Recording

Please note to ensure the highest level of customer service, all calls may be recorded and monitored for training and quality purposes.

Disclaimer

Springbok Properties for itself and the Vendors or lessors of properties for whom they act give notice that:

The details shown on this website are a general outline for the guidance of intending purchasers, and do not constitute, nor constitute part of, an offer or contract or sales particulars. All descriptions, dimensions, references to condition and other details are given in good faith and are believed to be correct but any intending purchasers should not rely on them as statements or representations of fact but must satisfy themselves by inspection, searches, survey, enquiries or otherwise as to their correctness. We have not been able to test any of the building service installations and recommend that prospective purchasers arrange for a qualified person to check them before entering into any commitment. Further, any reference to, or use of any part of the properties is not a statement that any necessary planning, building regulations or other consent has been obtained. All photographs shown are indicative and cannot be guaranteed to represent the complete interior scheme or items included in the sale. No person in our employment has any authority to make or give any representation or warranty whatsoever in relation to this property.

TENURE

To be confirmed by the Vendor's Solicitors

Note

The price given is a marketing price and not an indication of the property's market value. The vendor like any seller is looking to achieve the maximum price possible. Hence, by making an enquiry on this property, you recognise and understand that this property is strictly offers in excess of the marketing price provided.

How to View this Property

Viewing is strictly by appointment please call us now for bookings.

AML REGULATIONS & PROOF OF FUNDING: Any proposed purchasers will be asked to provide identification and proof of funding before any offer is accepted. We would appreciate your co-operation with this to ensure there are no delays in agreeing the sale.

Agent Details

Springbok Properties, Nationwide

0161 416 6302

Next Steps?

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