8 Bed HMO, Whitley Bay, NE26 1PA £350,000

North Parade, Whitley Bay, Tyne and Wear, NE26 1PA - 10 months ago
Sold STC
HMO
Refurb/BRRR
Outside Article 4
ROI: 8%
~181 m²
Property image

ValuationFair Value

Sold Prices£118.7K - £595K
Sold Prices/m²£621/m² - £7.8K/m²

 

 

Square Metres

~180.80 m²
Price/m²£1.9K/m²

Value Estimate

£357,000

 

 

End Value (After Refurb)

£402,442

Uplift in Value

+15%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£87,500

Stamp Duty & Legal Fees

£26,200

Refurb Costs

£76,283

Bridging Loan Interest

£9,188

Total Cash In

£200,920

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£402,442

Mortgage (After Refinance)

£301,832

Mortgage LTV

75%

Cash Released

£39,332

Cash Left In

£161,588

Equity

£100,611

Room Rate

£546

Gross Rent

£4,368

Running Costs/mo

£3,044

Cashflow/mo

£1,324

Cashflow/yr

£15,884

ROI

8%

Gross Yield

15%

Local Sold Prices

50 sold prices from £118.7K to £595K, average is £383.6K. £621/m² to £7.8K/m², average is £2.7K/m².

Price
Date
Distance
Address
Beds
 
£294.5K11/210.01 mi94, Oxford Street, Whitley Bay, Tyne And Wear NE26 1AD4
£310K06/230.04 mi8, North Parade, Whitley Bay, Tyne And Wear NE26 1PA4
£404K03/250.04 mi70, Oxford Street, Whitley Bay NE26 1AD4
£404K03/250.04 mi70, Oxford Street, Whitley Bay NE26 1AD4
£360K10/230.05 mi39, Oxford Street, Whitley Bay, Tyne And Wear NE26 1AD4
£355K08/230.09 mi19, Linden Terrace, Whitley Bay, Tyne And Wear NE26 2AA4
£375K09/230.1 mi36, North Parade, Whitley Bay, Tyne And Wear NE26 1PB4
£337.5K07/230.1 mi16, Ocean View, Whitley Bay, Tyne And Wear NE26 1AL4
£367.8K06/250.1 mi12, Roxburgh House, Roxburgh Terrace, Whitley Bay NE26 1DS4
£367.8K06/250.1 mi12, Roxburgh House, Roxburgh Terrace, Whitley Bay NE26 1DS4
£395K11/240.13 mi5, Oxford Street, Whitley Bay, Tyne And Wear NE26 1AE4
£437.5K08/230.14 mi20, Esplanade, Whitley Bay, Tyne And Wear NE26 2AJ4
£300K12/230.15 mi10, Laburnum Avenue, Whitley Bay, Tyne And Wear NE26 2HX4
£320K12/240.15 mi17, Percy Road, Whitley Bay NE26 2AX4
£370K10/240.16 mi8, Roxburgh Terrace, Whitley Bay, Tyne And Wear NE26 1DS4
£118.7K06/210.17 mi130, Park Avenue, Whitley Bay, Tyne And Wear NE26 1AY4
£450K03/240.17 mi136, Park Avenue, Whitley Bay, Tyne And Wear NE26 1AY4
£435K11/240.17 mi120, Park Avenue, Whitley Bay, Tyne And Wear NE26 1AY4
£429.8K11/220.17 mi17, Roxburgh Terrace, Whitley Bay, Tyne And Wear NE26 1DR4
£375K02/250.19 mi2, The Crescent, Whitley Bay NE26 2JG4
£375K02/250.19 mi2, The Crescent, Whitley Bay, Tyne And Wear NE26 2JG4
£352.1K12/220.19 mi21, Brook Street, Whitley Bay, Tyne And Wear NE26 1AF4
£450K03/240.2 mi62, Beach Avenue, Whitley Bay, Tyne And Wear NE26 1DZ4
£445.6K01/230.21 mi25, Albany Gardens, Whitley Bay, Tyne And Wear NE26 2DY4
£425.4K12/220.21 mi44, Roxburgh Terrace, Whitley Bay, Tyne And Wear NE26 1DS4
£501K11/210.23 mi1, Grosvenor Drive, Whitley Bay, Tyne And Wear NE26 2JP4
£380K09/230.24 mi4, Styan Avenue, Whitley Bay, Tyne And Wear NE26 2BD4
£497K05/240.25 mi22, Kings Drive, Whitley Bay, Tyne And Wear NE26 2JT4
£491.5K11/220.25 mi5, Plessey Crescent, Whitley Bay, Tyne And Wear NE25 8QJ4
£515K03/250.3 mi18, Queens Drive, Whitley Bay NE26 2JU4
£401.6K06/210.32 mi10, Queens Drive, Whitley Bay, Tyne And Wear NE26 2JU4
£330K07/240.32 mi30, Duchess Street, Whitley Bay, Tyne And Wear NE26 3PW4
£360K06/230.33 mi21, Warkworth Avenue, Whitley Bay, Tyne And Wear NE26 3PS4
£360K12/240.33 mi9, Warkworth Avenue, Whitley Bay, Tyne And Wear NE26 3PS4
£476K06/210.34 mi36, Grosvenor Drive, Whitley Bay, Tyne And Wear NE26 2JS4
£595K01/230.35 mi14, The Avenue, Whitley Bay, Tyne And Wear NE26 3PH4
£385.1K07/210.36 mi12, Percy Gardens, Whitley Bay, Tyne And Wear NE25 8RF4
£565K11/240.37 mi9, The Avenue, Whitley Bay NE26 3PH4
£303K08/210.37 mi1, Delaval Road, Whitley Bay, Tyne And Wear NE26 2NG4
£415K07/210.4 mi32, Belsay Avenue, Whitley Bay, Tyne And Wear NE25 8PZ4
£555K12/220.4 mi23, Holystone Avenue, Whitley Bay, Tyne And Wear NE25 8PX4
£504.3K12/220.4 mi40, Belsay Avenue, Whitley Bay, Tyne And Wear NE25 8PZ4
£429.9K01/240.4 mi14, Cliftonville Gardens, Whitley Bay, Tyne And Wear NE26 1QJ4
£335K06/210.4 mi15, Clovelly Gardens, Whitley Bay, Tyne And Wear NE26 1PZ4
£395K07/240.41 mi79, Beech Grove, Whitley Bay, Tyne And Wear NE26 3PL4
£295K08/210.42 mi16, Ilfracombe Gardens, Whitley Bay, Tyne And Wear NE26 3SL4
£340K04/240.42 mi42, Lish Avenue, Whitley Bay, Tyne And Wear NE26 2EG4
£382K07/230.42 mi1a, Bideford Gardens, Whitley Bay, Tyne And Wear NE26 1QW4
£418K03/250.44 mi19, Eastbourne Gardens, Whitley Bay NE26 1PU4
£312.5K11/220.46 mi62, Eastbourne Gardens, Whitley Bay, Tyne And Wear NE26 3LX4

Local Area Statistics

Population in NE26

19,169

Population in Whitley Bay

49,103

Town centre distance

1.14 miles away

Nearest school

0.30 miles away

Nearest train station

0.15 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-38%

Sales demand

Seller's market

Capital growth (5yrs)

+51%

Property History

Listed for £350,000

January 6, 2025

Floor Plans

Property image

Description

Spacious Mid-Terrace Home – Ideal Project Opportunity

This generous three-story mid-terrace property offers immense potential, currently configured with 9 bedrooms, including up to 6 en-suite bathrooms. Situated just moments from the stunning Whitley Bay Beach, this home presents an excellent opportunity for a variety of buyers, whether you're looking to create a spacious family home, a multi-let investment, or a renovation project.

The property boasts off-street parking to the front, providing added convenience, while the versatile layout spans three floors, allowing for flexible use of space. With its prime location near the beach, local amenities, and transport links, this property is ideal for those seeking a coastal lifestyle or an investment with great rental potential.

This is a fantastic opportunity for those with vision and a desire to make their mark on a well-positioned property in one of the area’s most sought-after locations.

Council Tax Band: C
Tenure: Freehold

Agent Details

Pattinson Estate Agents, Whitley Bay

0191 625 0822

Next Steps?

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