2 Bed Flat, Refurb/BRRR, London, SE28 8PJ, £160,000

Eastgate Close, London, SE28 8PJ 8 - 18 views - 4 months ago

Sold STC
Leasehold
Cash
Refurb/BRRR
ROI: 9%
~56 m²
+12 photos

ValuationFair Value

Sold Prices£170K - £315K
Sold Prices/m²£2.1K/m² - £5.2K/m²

 

 

Square Metres

~56.30 m²
Price/m²£2.8K/m²

Value Estimate

£160,000

 

 

End Value (After Refurb)

£256,291

Uplift in Value

+60%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£40,000

Stamp Duty & Legal Fees

£6,000

Refurb Costs

£29,757

Bridging Loan Interest

£4,200

Total Cash In

£81,707

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£256,291

Agent Fees (1%)

£2,563

Bridging Loan

£120,000

Bridging Loan Interest

£4,200

Flip Profit

£52,021

Local Sold Prices

50 sold prices from £170K to £315K, average is £234.5K. £2.1K/m² to £5.2K/m², average is £3.9K/m².

PriceDateDistanceAddressBeds 
£200K11/200.14 mi19, Woburn Close, London, Greater London SE28 8QZ2
£230K02/230.18 mi35, Drake Crescent, London, Greater London SE28 8PZ2
£185K11/200.2 mi18, Fairway Drive, London, Greater London SE28 8QL2
£200K02/210.25 mi16, Sunningdale Close, London, Greater London SE28 8QR2
£230K02/230.47 mi178, Greenhaven Drive, Thamesmead, London, Greater London SE28 8FU2
£170K03/210.54 mi237, Greenhaven Drive, London, Greater London SE28 8FX2
£210K06/210.54 mi242, Greenhaven Drive, London, Greater London SE28 8FX2
£215K05/210.54 mi211, Greenhaven Drive, London, Greater London SE28 8FX2
£229K05/210.54 mi245, Greenhaven Drive, London, Greater London SE28 8FX2
£247K01/230.59 mi279, Greenhaven Drive, Thamesmead, London, Greater London SE28 8FY2
£185K07/230.69 miFlat 29, Osney House, Hartslock Drive, London, Greater London SE2 9XA2
£232.5K06/210.85 mi73, Ampleforth Road, London, Greater London SE2 9BE2
£235K03/231.1 mi104, Waterside Close, London, Greater London SE28 0GS2
£270K01/231.1 miFlat 12, Victory Court, Atlantis Close, Barking, Greater London IG11 0GP2
£265K11/201.13 mi21, Marine Drive, Barking, Greater London IG11 0GJ2
£238K07/231.13 mi69, Marine Drive, Barking, Greater London IG11 0GJ2
£240K03/231.16 miFlat 14, Arncroft Court, Great Galley Close, Barking, Greater London IG11 0XP2
£213K02/211.18 mi37, Cookhill Road, London, Greater London SE2 9PD2
£267K11/221.22 miFlat 5, Poseidon Court, Spinnaker Close, Barking, Greater London IG11 0GR2
£255K05/211.29 mi4, Bylands Close, London, Greater London SE2 9PQ2
£193K02/211.3 mi13, Leatherbottle Green, Erith, Greater London DA18 4HS2
£265K02/231.31 mi106, Chalcombe Road, London, Greater London SE2 9QP2
£235K09/221.31 mi13a, Florence Road, London, Greater London SE2 9HB2
£315K01/231.34 mi25, Tunstock Way, Belvedere, Greater London DA17 5RU2
£255K04/231.37 miFlat 16, Admiral Court, Stern Close, Barking, Greater London IG11 0YA2
£220K06/211.4 miFlat 5, Belvedere Court, Laymarsh Close, Belvedere, Greater London DA17 5QX2
£260K04/231.4 mi4, Marathon Way, London, Greater London SE28 0JH2
£215K05/211.46 mi38, Combwell Crescent, London, Greater London SE2 9NB2
£205K06/211.46 mi36, Combwell Crescent, London, Greater London SE2 9NB2
£200K01/211.47 mi11a, Julia Gardens, Barking, Greater London IG11 0UQ2
£270K10/221.49 mi4, Knee Hill Crescent, London, Greater London SE2 0YL2
£255K12/221.51 mi60, Knee Hill Crescent, London, Greater London SE2 0YN2
£248K09/231.52 mi139b, Mcleod Road, London, Greater London SE2 0BN2
£190K08/211.59 mi43, Hattersfield Close, Belvedere, Greater London DA17 5QT2
£234K03/211.61 mi62, Coleman Road, Belvedere, Greater London DA17 5AN2
£260K08/211.62 mi10, Hill View Drive, London, Greater London SE28 0LH2
£220K05/211.62 mi44, Farr Avenue, Barking, Greater London IG11 0NZ2
£220K05/211.64 mi7, Horse Bridge Close, Dagenham, Greater London RM9 6YQ2
£210K03/221.64 mi5, Horse Bridge Close, Dagenham, Greater London RM9 6YQ2
£273K09/221.64 mi43, Battery Road, London, Greater London SE28 0JL2
£210K05/211.69 mi244, Commonwealth Way, London, Greater London SE2 0LF2
£245K04/231.69 mi266, Commonwealth Way, London, Greater London SE2 0LF2
£225K08/211.69 mi252, Commonwealth Way, London, Greater London SE2 0LF2
£227.5K02/211.69 mi88, Clive Road, Belvedere, Greater London DA17 5BZ2
£277K08/211.69 mi50, Stanley Avenue, Barking, Greater London IG11 0LE2
£283.5K09/221.7 mi20, Warrior Close, London, Greater London SE28 0NL2
£295K10/221.71 mi23, Warrior Close, London, Greater London SE28 0NL2
£273K03/231.71 mi53, Viola Avenue, London, Greater London SE2 0TQ2
£260K01/211.71 mi37, Miles Drive, London, Greater London SE28 0NE2
£260.5K03/211.72 mi32, Heron Hill, Belvedere, Greater London DA17 5HF2

Local Rents

51 rents from £1.4K/mo to £3K/mo, average is £1.7K/mo.

RentDateDistanceAddressBeds 
£1,65009/240.05 miManordene Road, London, SE282
£1,65009/240.05 mi-2
£1,65010/240.05 mi-2
£1,60008/240.05 mi-2
£1,60008/240.09 miMartham Close, London2
£1,60008/240.09 miMartham Close, London, SE282
£2,90008/240.1 mi-2
£1,55002/250.12 mi-2
£1,40004/250.13 mi-2
£1,64502/250.13 mi-2
£1,40001/250.13 mi-2
£1,40003/250.13 mi-2
£1,65008/240.14 miGrange Crescent, Thamesmead, SE28 8EX2
£1,90008/240.18 mi-2
£1,80008/240.18 mi-2
£1,80009/240.18 mi-2
£1,70012/240.18 mi-2
£1,85008/240.19 miThamesmead, Thamesmead, SE282
£1,75002/240.19 mi-2
£1,64008/240.19 mi-2
£1,65008/240.2 miCourtland Grove, London, SE282
£1,70008/240.2 mi-2
£1,69408/240.2 mi-2
£1,69408/240.2 mi-2
£1,69412/240.2 mi-2
£1,75004/250.2 mi-2
£1,80002/250.21 mi-2
£1,70003/250.21 mi-2
£3,00008/240.23 mi-2
£2,85009/240.23 mi-2
£1,65011/240.23 mi-2
£1,57508/240.23 mi-2
£1,55008/240.23 mi-2
£1,67504/250.27 mi-2
£1,75008/240.27 mi-2
£1,75004/250.27 mi-2
£1,70010/240.27 mi-2
£1,79509/240.27 mi-2
£1,79509/240.27 mi-2
£1,80003/250.29 mi-2
£1,69508/240.3 miGreenhaven Drive, Thamesmead, London2
£1,67509/240.3 miGreenhaven Drive, Thamesmead, London2
£1,65008/240.34 miFantail Close, Thamesmead London SE282
£1,80008/240.39 mi-2
£1,60008/240.39 miGreenhaven Drive, London2
£1,45008/240.4 miBertrand Way, London, SE282
£1,65003/250.45 mi-2
£1,65004/250.45 mi-2
£1,69508/240.47 mi-2
£1,80004/250.54 mi-2
£1,60004/250.54 mi-2

Local Area Statistics

Population in SE28

29,318

Population in London

4,771,921

Town centre distance

10.04 miles away

Nearest school

0.20 miles away

Nearest train station

0.83 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+11%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Listed for £160,000

December 12, 2024

Sold for £46,000

1998

Sold for £38,000

1997

Floor Plans

Description

Mooved are delighted to present this fantastic investment opportunity: a two-bedroom first-floor flat located in Thamesmead, within the London Borough of Bexley. *CASH BUYERS ONLY* *SHORT LEASE 62 YEARS*

This property offers a generous amount of space, featuring a large reception room that is flooded with natural light, perfect for creating a welcoming environment. The C-shaped kitchen, with some fitted units, presents an excellent opportunity for modernisation and design to maximise its potential.

Both double bedrooms are spacious and located towards the rear of the flat, offering tranquil views and the promise of comfort. The house bathroom is substantial, complete with a tiled bath/shower area, toilet, and basin, ready for a fresh touch to bring out its best. Additional storage cupboards throughout the property add to its practicality. One of the highlights of this flat is the expansive balcony space, accessible through charming French doors, which could be transformed into a stunning outdoor area, enhancing the property’s appeal.

The property offers one allocated parking space and visitor parking is available.

Situated in a prime rental area, this flat is perfectly positioned for those looking to add value. Thamesmead is a vibrant and evolving part of London, known for its strong community spirit and excellent amenities. The local area offers a variety of shops, cafes, and restaurants, catering to a diverse range of tastes. For those who enjoy outdoor activities, the nearby Thamesmead Nature Reserve and Southmere Lake provide beautiful green spaces for leisure and recreation.

Transport links are exceptional, with the property being well-connected to central London and beyond. Abbey Wood station is a short distance away, offering regular services on the Elizabeth Line, making commuting to Canary Wharf, the City, and West End straightforward and convenient. Additionally, the nearby A206 and A2016 provide easy road access to major routes, connecting you to surrounding towns and cities with ease.

This is a remarkable opportunity to invest in a property with great potential, set in a thriving area with excellent transport links and amenities.

Disclaimer - 1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER MOOVED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Agent Details

Mooved, Harrogate

01420 554952

Next Steps?

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