2 Bed Flat, Refurb/BRRR, South Croydon, CR2 0QZ, £270,000

Reddington Close, Sanderstead, South Croydon, CR2 0QZ - 6 months ago

Sold STC

Refurb/BRRR

ROI: 2%

~73 m²

+6 photos

ValuationUndervalued

Sold Prices	£248K - £437.5K
Sold Prices/m²	£3.4K/m² - £6.5K/m²

Square Metres	~73 m²
Price/m²	£3.7K/m²
Value Estimate	£278,100£278,100
BMV	3%

End Value (After Refurb)	£371,425£371,425
Uplift in Value	+38%+38%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£67,500£67,500
Stamp Duty & Legal Fees	£15,700£15,700
Refurb Costs	£38,630£38,630
Bridging Loan Interest	£7,088£7,088
Total Cash In	£130,667£130,667

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£371,425£371,425
Agent Fees (1%)	£3,714£3,714
Bridging Loan	£202,500£202,500
Bridging Loan Interest	£7,088£7,088
Flip Profit	£34,543£34,543

Local Sold Prices

24 sold prices from £248K to £437.5K, average is £295.3K. £3.4K/m² to £6.5K/m², average is £4.9K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£327.5K	11/20	0.01 mi	24, Reddington Close, South Croydon, Greater London CR2 0QZ	£3,946	83	2	Flat
£282.5K	11/21	0.05 mi	12, Wisley Court, South Croydon, Greater London CR2 0QY	£3,924	72	2	Flat
£293.5K	02/23	0.1 mi	27, Montana Close, South Croydon, Greater London CR2 0AT	£5,060	58	2	Flat
£335K	11/21	0.36 mi	Flat 20, Barrards Hall, Beech Avenue, South Croydon, Greater London CR2 0NL	-	-	2	Flat
£262.5K	06/23	0.48 mi	538, Brighton Road, South Croydon, Greater London CR2 6AU	-	-	2	Flat
£423K	11/20	0.52 mi	2, Churchill Road, South Croydon, Greater London CR2 6HA	£5,288	80	2	Flat
£290K	11/20	0.63 mi	112, Kingsdown Avenue, South Croydon, Greater London CR2 6QH	£4,833	60	2	Flat
£285K	06/21	0.67 mi	666, Brighton Road, Purley, Greater London CR8 2BB	£5,182	55	2	Flat
£275K	11/20	0.67 mi	646, Brighton Road, Purley, Greater London CR8 2BB	£5,500	50	2	Flat
£248K	07/23	0.67 mi	648, Brighton Road, Purley, Greater London CR8 2BB	-	-	2	Flat
£437.5K	12/20	0.7 mi	Lower Maisonette, 67, Avondale Road, South Croydon, Greater London CR2 6JE	-	-	2	Flat
£273.1K	12/22	0.72 mi	30a, Purley Park Road, Purley, Greater London CR8 2BS	£3,955	69	2	Flat
£325K	08/21	0.79 mi	Ground Floor Flat, 106, Brighton Road, South Croydon, Greater London CR2 6AD	£6,500	50	2	Flat
£285K	12/21	0.79 mi	11, Allder Way, South Croydon, Greater London CR2 6JZ	£3,393	84	2	Flat
£305K	01/23	0.85 mi	13, Birchend Close, South Croydon, Greater London CR2 7DS	£5,865	52	2	Flat
£297K	11/20	0.9 mi	209, Pampisford Road, South Croydon, Greater London CR2 6DF	£5,121	58	2	Flat
£290K	03/21	0.9 mi	211, Pampisford Road, South Croydon, Greater London CR2 6DF	-	-	2	Flat
£321K	06/21	0.94 mi	9, St Anns Way, South Croydon, Greater London CR2 6DN	-	-	2	Flat
£321K	06/21	0.94 mi	9, St Anns Way, South Croydon, Greater London CR2 6DN	-	-	2	Flat
£300K	02/21	0.94 mi	39, St Anns Way, South Croydon, Greater London CR2 6DN	£4,762	63	2	Flat
£269K	06/21	0.96 mi	74, Lower Barn Road, Purley, Greater London CR8 1HR	-	-	2	Flat
£280K	02/21	0.99 mi	1, Sycamore Close, South Croydon, Greater London CR2 7LN	£4,242	66	2	Flat
£380K	09/21	1 mi	Flat 7, Doble Court, Addington Road, South Croydon, Greater London CR2 8RN	-	-	2	Flat
£422K	07/23	1 mi	Flat 6, Doble Court, Addington Road, South Croydon, Greater London CR2 8RN	-	-	2	Flat

Local Rents

49 rents from £1.4K/mo to £2K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,650	12/24	0.01 mi	Reddington Close, South Croydon	2	Flat
£1,650	12/24	0.03 mi	Beechwood Road, South Croydon	2	Flat
£1,500	01/25	0.06 mi	-	2	Flat
£1,600	12/24	0.06 mi	Theresas Walk, South Croydon, CR2	2	Flat
£1,600	12/24	0.06 mi	Theresas Walk, SOUTH CROYDON	2	Flat
£1,550	12/24	0.1 mi	ZERO DEPOSIT OPTION Montana Close, Sanderstead CR2	2	Flat
£2,050	02/25	0.11 mi	-	2	Flat
£1,600	02/24	0.12 mi	-	2	Flat
£1,600	02/24	0.12 mi	-	2	Flat
£1,425	02/24	0.12 mi	-	2	Flat
£1,600	12/24	0.12 mi	-	2	Flat
£1,650	12/24	0.14 mi	Beechwood Road, South Croydon, CR0	2	Flat
£1,600	12/24	0.21 mi	Parrs Close, Sanderstead	2	Flat
£1,600	12/24	0.22 mi	Parrs Close, Croydon, CR2	2	Flat
£1,450	12/24	0.23 mi	Florence road, CR2	2	Detached House
£1,600	04/25	0.24 mi	-	2	Flat
£1,500	12/24	0.29 mi	Mayfield Road, South Croydon, Surrey, CR2	2	Flat
£1,550	12/24	0.29 mi	Mayfield Road, South Croydon, Surrey, CR2	2	Detached House
£1,950	12/24	0.29 mi	Brambledown Road, SOUTH CROYDON	2	Flat
£1,550	02/24	0.31 mi	-	2	Flat
£1,600	12/24	0.36 mi	Beech Avenue, South Croydon	2	Flat
£1,500	12/24	0.36 mi	Elmfield Way, SOUTH CROYDON	2	Flat
£1,550	12/24	0.44 mi	Brighton Road, South Croydon	2	Flat
£1,640	02/25	0.44 mi	-	2	Flat
£1,500	12/24	0.45 mi	Brighton Road, South Croydon, Surrey, CR2	2	Flat
£1,650	02/24	0.46 mi	-	2	Terraced House
£1,650	03/25	0.46 mi	-	2	Flat
£1,600	12/24	0.5 mi	Churchill Road, South Croydon, CR2 6HB	2	Detached House
£1,550	12/24	0.54 mi	Aria House , Haling Down Passage CR2	2	Flat
£1,600	12/24	0.55 mi	Blenheim Park Road, South Croydon	2	Flat
£2,000	01/25	0.55 mi	-	2	Flat
£2,000	04/25	0.55 mi	-	2	Flat
£2,000	02/25	0.55 mi	-	2	Flat
£2,000	02/25	0.55 mi	-	2	Flat
£2,000	12/24	0.55 mi	-	2	Flat
£2,000	12/24	0.55 mi	Capella Court, Purley, CR8	2	Flat
£1,700	03/25	0.57 mi	-	2	Terraced House
£1,700	03/25	0.58 mi	-	2	Flat
£2,000	12/24	0.58 mi	Brighton Road, Purley, CR8	2	Flat
£2,000	12/24	0.58 mi	-	2	Flat
£1,600	02/25	0.59 mi	-	2	Flat
£1,600	03/25	0.6 mi	-	2	Flat
£1,750	03/25	0.6 mi	-	2	Flat
£1,600	04/25	0.6 mi	-	2	Flat
£1,750	12/24	0.6 mi	-	2	Flat
£1,750	02/24	0.6 mi	-	2	Flat
£1,775	03/24	0.6 mi	-	2	Flat
£1,600	03/25	0.6 mi	-	2	Flat
£1,695	03/25	0.6 mi	-	2	Flat

Local Area Statistics

Population in CR2	48,42748,427
Town centre distance	0.75 miles away0.75 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.16 miles away0.16 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	-35%-35%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+11%+11%

Property History

Price changed to £270,000

January 27, 2025

Listed for £280,000

October 12, 2024

Floor Plans

Description

NO ONWARD CHAIN +
2 bedroom top floor flat (2nd floor) +
Bathroom +
Separate WC +
Spacious Reception Room +
2 double bedrooms +
Kitchen +
Far reaching views +
Garage en bloc - Share of Freehold +

CHAIN FREE - Hubbard Torlot are pleased to present to the market this 2 bedroom Share of Freehold, second floor flat in need of updating. The property has an entrance hall, good sized kitchen, spacious reception room, 2 double bedrooms with built in cupboards, family bathroom, separate WC and storage cupboards in the hallway. There are fantastic views from the flat, a garage en-bloc and communal gardens. An early viewing is recommended. Council Tax C. 971 years remaining on lease. Service charge £1644.28 per annum.

Reddington Close, is located off Beechwood Road and a short walk from Sanderstead Road which has a small selection of shops to include a fish & chip shop, Indian Restaurant, coffee shop and grocery store together with Tesco express. Also just minutes walk from the property is the rear access to Sanderstead Station which provides a regular route to both London Bridge and Victoria. Central Croydon is also easily accessible and approx. 1 mile away for a comprehensive range of shops and entertainment to include the recent addition of 'Croydon Box Park' along with the proposed 'Westfield' Shopping centre.

Agent Details

Hubbard Torlot, Sanderstead

020 3910 6353

Next Steps?

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

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