3 Bed Flat, Single Let, Bognor Regis, PO21 1BY, £200,000

9a and 9b, Lyon Street West, Bognor Regis, West Sussex, PO21 1BY - 3 months ago

Sold STC
Leasehold
BTL
ROI: 7%
~92 m²
+4 photos

ValuationUndervalued

Sold Prices£148K - £563K
Sold Prices/m²£1.8K/m² - £5.5K/m²

 

 

Square Metres

~91.97 m²
Price/m²£2.2K/m²

Value Estimate

£246,000
BMV23%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£50,000

Stamp Duty & Legal Fees

£7,200

Total Cash In

£57,200

 

 

Cash Out

 

Rent Range

£1,060 - £2,167

Rent Estimate

£1,250

Running Costs/mo

£895

Cashflow/mo

£355

Cashflow/yr

£4,260

ROI

7%

Gross Yield

8%

Local Sold Prices

20 sold prices from £148K to £563K, average is £295K. £1.8K/m² to £5.5K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£148K12/230.28 mi1, Sudley Gardens, Bognor Regis, West Sussex PO21 1HY3
£278K05/240.3 miSabey Court, Flat 7, Albert Road, Bognor Regis, West Sussex PO21 1LU3
£385K09/230.52 mi8, Rock Gardens, Bognor Regis, West Sussex PO21 2LE3
£230K06/210.66 mi142b, Orchard Way, Bognor Regis, West Sussex PO22 9JX3
£175K04/210.67 mi70, Kyoto Court, Bognor Regis, West Sussex PO21 2UL3
£210K11/230.69 mi124b, Orchard Way, Bognor Regis, West Sussex PO22 9JU3
£218K04/210.69 mi128a, Orchard Way, Bognor Regis, West Sussex PO22 9JU3
£217K03/210.74 miFlat 14, Clarehaven Court, Wessex Avenue, Bognor Regis, West Sussex PO21 2QW3
£200K07/210.83 mi5, Durlston Drive, Bognor Regis, West Sussex PO22 9DH3
£420K06/211 mi10, Gilwynes, Bognor Regis, West Sussex PO21 3SG3
£230K10/201.03 miFlat 3, Turret House, Limmer Lane, Bognor Regis, West Sussex PO22 7EN3
£563K12/201.38 mi9, Overdown Road, Bognor Regis, West Sussex PO22 7HW3
£340K03/211.85 mi47, Roundle Avenue, Bognor Regis, West Sussex PO22 8LJ3
£540K10/211.91 mi5, Craigweil Manor, Bognor Regis, West Sussex PO21 4AP3
£497.5K07/211.91 mi10, Craigweil Manor, Bognor Regis, West Sussex PO21 4AP3
£338K01/212.09 mi35, Pryors Lane, Bognor Regis, West Sussex PO21 4LH3
£310K06/232.46 mi15, Greenfields, Bognor Regis, West Sussex PO22 7SS3
£310K07/212.46 mi12, Greenfields, Bognor Regis, West Sussex PO22 7SS3
£347K03/212.46 mi4, Greenfields, Bognor Regis, West Sussex PO22 7SS3
£280K11/202.66 mi5, Harefield Gardens, Bognor Regis, West Sussex PO22 6EQ3

Local Rents

21 rents from £1.1K/mo to £2.2K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£2,16712/240.02 mi-3
£1,75006/240.02 miSpencer Street, BOGNOR REGIS3
£1,06009/240.04 mi-3
£1,25002/250.08 mi-3
£1,40012/240.11 mi-3
£1,40012/240.11 mi-3
£1,20003/250.11 mi-3
£1,35007/240.13 miGlamis Street, Bognor Regis, PO213
£1,49512/240.14 mi-3
£1,30006/240.2 miGainsboro Road, Bognor Regis3
£1,30002/250.3 mi-3
£2,12506/240.36 miCarlingford Court, Bognor Regis, PO213
£1,25007/240.38 miWrenfield Place, Scott Close, Bognor Regis, PO213
£2,00003/250.38 mi-3
£1,30006/240.44 miDorset Road, Bognor Regis3
£1,45007/240.52 miEssex Road, Bognor Regis, PO213
£1,60007/240.55 miMarshall Avenue, Bognor Regis, PO213
£1,25006/240.56 miPark Road, Bognor Regis, PO213
£1,30007/240.6 miThe Paddock, South Bersted, PO223
£1,45006/240.6 miShelley Road, PO213
£1,35006/240.62 mi-3

Local Area Statistics

Population in PO21

39,509

Population in Bognor Regis

68,380

Town centre distance

0.20 miles away

Nearest school

0.20 miles away

Nearest train station

0.06 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+28%

Sales demand

Balanced market

Capital growth (5yrs)

+19%

Property History

Listed for £200,000

December 19, 2024

Floor Plans

Description

  • Investment Opportunity +
  • Two Flats, One with Balcony +
  • Convenient Location +
  • Freehold +
  • Double Glazing and Electric Heating +
  • No Onward Chain +
  • Town Centre Location +
  • Rental Yield of 9% +
  • Sold with Tenants in Situ +

The property comprises one first floor two bedroom flat, plus a second floor one bedroom flat with access to a generous balcony. Both flats are accessed via a communal door with stairs to the first and second floors. Benefiting from double glazing and electric heating.

Flat 9a is located on the first floor and the accommodation briefly comprises, entrance hallway, open plan sitting/dining/kitchen, two bedrooms and shower room with WC. Flat 9b is located on the second floor and comprises, entrance way, open plan sitting/dining/kitchen, double bedroom with en-suite shower room and double doors giving access to a southerly facing generous balcony. A viewing is recommended to appreciate their convenient location and it is noted that these flats would benefit from being updated. Tenure: We understand there is a 999 year lease from 01/12/2001. Maintenance Charge: We understand the charges are two thirds of the cost of works as and when required. NOTE: The photographs are a selection of the both flats.

EPC Rating: E

Agent Details

Henry Adams, Bognor Regis

01243 219388

Next Steps?

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