2 Bed Flat, Refurb/BRRR, Brighton, BN1 6YL, £250,000

London Road, Preston Village, Brighton, East Sussex, BN1 6YL - 4 months ago

Sold STC
Leasehold
Refurb/BRRR
~68 m²
+14 photos

ValuationFair Value

Sold Prices£115K - £1.3M
Sold Prices/m²£2.3K/m² - £7.1K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.7K/m²

Value Estimate

£252,500

 

 

End Value (After Refurb)

£398,169

Uplift in Value

+59%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£32,371

Bridging Loan Interest

£6,563

Total Cash In

£111,884

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£398,169

Agent Fees (1%)

£3,982

Bridging Loan

£187,500

Bridging Loan Interest

£6,563

Flip Profit

£94,803

Local Sold Prices

50 sold prices from £115K to £1.3M, average is £331.5K. £2.3K/m² to £7.1K/m², average is £5K/m².

PriceDateDistanceAddressBeds 
£225K12/220.03 miFlat 81, Windsor Court, Tongdean Lane, Withdean, Brighton, Brighton And Hove BN1 5JS2
£210K08/230.04 miFlat 103, Windsor Court, Tongdean Lane, Withdean, Brighton, Brighton And Hove BN1 5JS2
£230.8K05/210.06 miFlat 16, Manhattan Court, Tongdean Lane, Preston, Brighton, Brighton And Hove BN1 6XZ2
£259.9K06/210.42 miFlat 1, Tivoli, Tower Gate, Preston, Brighton, East Sussex BN1 6WT2
£415K09/210.66 mi28a, Loder Road, Brighton, Brighton And Hove BN1 6PJ2
£275K12/200.69 mi3 Surrenden Lodge, Surrenden Road, Brighton, Brighton And Hove BN1 6QB2
£370K12/200.71 miBasement Flat, 67, Preston Drove, Brighton, Brighton And Hove BN1 6LA2
£310K01/210.79 mi9 Woodland Court, Dyke Road Avenue, Hove, Brighton And Hove BN3 6DN2
£332K01/230.79 mi3 Woodland Court, Dyke Road Avenue, Hove, Brighton And Hove BN3 6DN2
£443.5K01/210.87 mi89a, Beaconsfield Villas, Brighton, Brighton And Hove BN1 6HF2
£340K11/200.89 mi66a, Lowther Road, Brighton, Brighton And Hove BN1 6LH2
£340K06/210.98 mi95a, Sandgate Road, Brighton, Brighton And Hove BN1 6JP2
£308.5K11/211.09 miFlat 69, Fairways, Dyke Road, Brighton, Brighton And Hove BN1 5AD2
£300K11/201.09 miFlat 46, Fairways, Dyke Road, Brighton, Brighton And Hove BN1 5AD2
£270K10/211.1 mi45, Havelock Road, Brighton, Brighton And Hove BN1 6GL2
£390K02/211.12 mi29b, Beaconsfield Villas, Brighton, Brighton And Hove BN1 6HA2
£422.5K05/211.13 miGround Floor Flat, 1, Park View Terrace, Brighton, Brighton And Hove BN1 5PW2
£425K09/231.14 miFlat 4, Orchard House, Park View Road, Hove, Brighton And Hove BN3 7AW2
£1.3M01/211.17 mi39, Stanford Avenue, Brighton, Brighton And Hove BN1 6GA2
£331K10/231.21 miTop Flat, 28, Grantham Road, Brighton, Brighton And Hove BN1 6EE2
£271.5K05/211.24 mi33, Fernhurst Crescent, Brighton, Brighton And Hove BN1 8FA2
£585K09/231.24 miApartment 27, Preston Mansions, Preston Park Avenue, Brighton, Brighton And Hove BN1 6HP2
£457.5K09/211.28 miGround Floor Flat, 17, Bigwood Avenue, Hove, Brighton And Hove BN3 6FP2
£228K10/231.29 miFlat 4, Homedrive House, The Drive, Hove, Brighton And Hove BN3 6GE2
£295K07/231.31 miFlat 61, Wellend Villas, Springfield Road, Brighton, Brighton And Hove BN1 6BT2
£290K07/231.31 miFlat 53, Wellend Villas, Springfield Road, Brighton, Brighton And Hove BN1 6BT2
£220K05/231.32 miGround Floor Flat, 4, Springfield Road, Brighton, Brighton And Hove BN1 6DA2
£462K06/231.39 mi60b, Lyndhurst Road, Hove, Brighton And Hove BN3 6FB2
£345K02/231.45 miGround Floor Flat, 66, Denmark Villas, Hove, Brighton And Hove BN3 3TJ2
£411K09/211.45 miFirst And Second Floor Maisonette, 22, Prestonville Road, Brighton, Brighton And Hove BN1 3TL2
£450K01/231.45 mi40, Campbell Road, Brighton, Brighton And Hove BN1 4QD2
£355.8K12/201.46 miGround Floor Flat, 32, Cromwell Road, Hove, Brighton And Hove BN3 3EB2
£1.1M06/211.52 mi58, Davigdor Road, Hove, Brighton And Hove BN3 1RB2
£326K02/231.53 mi3, Waverley Crescent, Brighton, Brighton And Hove BN1 7BG2
£322K12/201.54 miFlat 14b, St Ann's Court, Nizells Avenue, Hove, Brighton And Hove BN3 1PR2
£595K07/211.54 mi28, Stroudley Road, Brighton, Brighton And Hove BN1 4BH2
£332.5K04/211.55 mi10, Clarendon Road, Hove, Brighton And Hove BN3 3WS2
£412.5K03/211.55 miUpper Maisonette, 57, Shaftesbury Road, Brighton, Brighton And Hove BN1 4NF2
£322.5K02/211.56 mi26, Livingstone Road, Hove, Brighton And Hove BN3 3WP2
£212K12/201.56 miLower Ground Floor Flat, 38, Livingstone Road, Hove, Brighton And Hove BN3 3WP2
£243K12/211.58 mi124, Hardwick Road, Hove, Brighton And Hove BN3 8BS2
£115K01/231.6 miGround Floor Flat, 55, Livingstone Road, Hove, Brighton And Hove BN3 3WN2
£180K02/231.6 miLower Ground Floor Flat, 55, Livingstone Road, Hove, Brighton And Hove BN3 3WN2
£355K03/211.61 miGround And First Floor Flat, 90, Livingstone Road, Hove, Brighton And Hove BN3 3WL2
£372.5K11/211.65 miUpper Maisonette, 117, Sackville Road, Hove, Brighton And Hove BN3 3WF2
£365K01/211.65 miSecond Floor Flat, 2, Vernon Terrace, Brighton, Brighton And Hove BN1 3JG2
£137.5K03/231.66 miFirst Floor Flat, 15, Wakefield Road, Brighton, Brighton And Hove BN2 3FP2
£255K06/211.69 mi27b, Upper Lewes Road, Brighton, East Sussex BN2 3FH2
£345K11/201.69 miLower Ground Floor Flat, 61, Buckingham Road, Brighton, Brighton And Hove BN1 3RQ2
£316K06/211.7 mi132a, Upper Lewes Road, Brighton, Brighton And Hove BN2 3FD2

Local Rents

37 rents from £1.1K/mo to £2.1K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,50012/240.01 miThe Park Apartments2
£1,35012/240.01 miLondon Road, BN12
£1,49512/240.04 miLondon Road, Preston2
£1,47501/240.07 mi-2
£1,50002/250.1 mi-2
£1,45002/250.1 mi-2
£1,35002/240.1 mi-2
£1,40012/240.11 miLondon Road, BN12
£1,47512/240.12 miMandalay Court, London Road - P16122
£1,47512/240.12 miMandalay Court, London Road - P16122
£1,75012/240.14 miMandalay Court, Brighton, East Sussex, BN1 8QW2
£1,65003/250.16 mi-2
£1,22512/240.26 miHomeleigh, London Road, Brighton, East Sussex, BN12
£1,60012/240.26 miLaine Close, BN12
£1,49501/250.27 mi-2
£2,15002/250.27 mi-2
£1,42002/240.27 mi-2
£1,39512/240.29 miThe Priory, London Road, Brighton2
£1,30012/240.29 miLeahurst Court Road, BRIGHTON2
£1,50003/250.31 mi-2
£1,32512/240.31 miDene Vale, Brighton, East Sussex2
£1,32512/240.31 miDene Vale, Brighton, East Sussex2
£1,32512/240.31 miDene Vale, Brighton, East Sussex2
£1,40012/240.35 miLondon Road, Preston, BRIGHTON2
£1,45012/240.36 miVarndean Road, Brighton2
£1,15012/240.38 mi-2
£1,40012/240.39 miCliveden Close, BRIGHTON2
£1,39511/230.4 mi-2
£1,50012/240.41 miDyke Road Avenue, Brighton, BN12
£1,40012/240.41 miCliveden Court, Brighton, BN12
£1,40012/240.41 miCliveden Court, Brighton, BN12
£1,30012/240.41 miCliveden Close, Brighton, East Sussex, BN12
£1,55012/240.42 miBarn Rise, BRIGHTON2
£1,47512/240.46 miKingsmere, London Road, Brighton, BN1 6UW2
£1,49512/240.49 miStation Road, Preston, Brighton2
£1,45012/240.55 miCarlton House, Preston Road, Brighton2
£1,30012/240.61 miPreston Road, Brighton, BN1 6SW2

Local Area Statistics

Population in BN1

84,021

Population in Brighton

208,224

Town centre distance

2.31 miles away

Nearest school

0.50 miles away

Nearest train station

0.56 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+6%

Sales demand

Balanced market

Capital growth (5yrs)

+22%

Property History

Listed for £250,000

November 15, 2024

Floor Plans

Description

  • Style: 1st floor flat in a modern complex +
  • Type: 2 double bedrooms, 1 bathroom, 1 living/dining room, 1 kitchen +
  • Location: Withdean +
  • Floor Area: 750 sq.ft. +
  • Outside: East facing balcony +
  • Parking: Parking in the surrounding streets +
  • Council Tax Band: C +

GUIDE PRICE £250,000 - £260,000.

CHAIN FREE.

VACANT POSSESSION.

PRIVATE BALCONY.

Gazing out over the leafy environs of Withdean Park, The Park Apartments sit on some of the most prime land in the country. Commuter links, excellent schools and easy access to the city are a huge bonus, but within these apartments you also have access to an onsite gym and sauna.

This modern two-bedroom apartment sits slightly elevated on the first floor with a balcony facing east to maximise the glorious park views. Each room is well-proportioned with a wealth of glazing and a smart, neutral finish throughout, having been re-decorated recently. There remains scope, however, for further modernisations which will add value in such a popular location, allowing new owners to put their own stamp on the place.

Perfectly positioned for commuters, you are just a short walk from Preston Park Station and the A23/A27 are just minutes away, so this flat would be popular with professional sharers and investors alike.

Style: 1st floor flat in a modern complex
Type: 2 double bedrooms, 1 bathroom, 1 living/dining room, 1 kitchen
Location: Withdean
Floor Area: 750 sq.ft.
Outside: East facing balcony
Parking: Parking in the surrounding streets
Council Tax Band: C

Why you’ll like it:
Surrounded by secure gates, mature palms and manicured plants, the newly clad Park Apartments are hugely attractive, lining London Road opposite Withdean Park. The communal ways are well-maintained with a tall steel lift or a short flight of stairs taking you to the first floor where your door is clearly numbered. Stepping inside, it is a naturally light and modern space with quality carpet flowing along the corridor and into the principal rooms. There are two deep storage cupboards for coats, shoes and household items, so you can ensure the flat remains clutter free.

First to the right is the generous living and dining room where a wall of double-glazed windows frames the gorgeous leafy backdrop of Withdean Park and up Peacock Lane. There is ample space in here to dine and relax, then during the warmer weather, you can spill out on to the balcony which is covered for use throughout the year. Facing east and open to the south, the natural light on the balcony and into the living room is delightful, and the views are ever-changing with the seasons. During winter, tall, black marble effect heating panels warm the room perfectly, bringing both form and function to the room.

Conveniently across the hall, the kitchen is streamlined with fitted cabinets providing a wealth of useful storage alongside integrated appliances which will stay. Zesty lime glass splashbacks add a pop of colour and there is plenty of worktop space for the keen cook. While the kitchen is in fine condition, there remains scope to add value with further modernisation as it is slightly tired in areas.

Both bedrooms are sun filled double rooms with soft carpet underfoot and energy efficient double-glazed windows to ensure a warm and restful night’s sleep. The principal room also enjoys direct access to the balcony so you can pop out for a nightcap or morning coffee to enjoy sunrise over the trees of the park. Bedroom two faces west, so warm light filters in during the afternoon and early evening. Both rooms benefit from easy access to the bathroom which has a monochrome scheme with gleaming white sanitaryware and a shower over the bath.

Agent’s thoughts:
These are well-maintained and popular apartments which will hold their value due to their location. In addition, you needn’t pay for a gym membership as you have a gym and sauna on-site, included within the maintenance fee.

Where it is:
Shops: Local 8 min walk, North Laine 10 min drive
Train Station: Preston Park Station is a 7 min walk
Seafront or Park: Withdean Park opposite, the Seafront is a 10 min drive
Closest Schools:
Primary: Westdene Primary School
Secondary: Patcham High School
Private: Brighton College, Lancing College Prep

This attractive flat is situated in a popular area with lots of local shops and green spaces. The city centre shopping districts and the beach are within easy reach, and this spacious apartment also offers easy access to the A27/A23 as well as the train station with its regular, fast links to the airports and London.

Agent Details

Brand Vaughan, Preston Park

01273 109843

Next Steps?

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