2 Bed Flat, Cash/Bridging Only, Southend-on-Sea, SS2 6DS, £175,000

59 Victoria Avenue, Southend-On-Sea, SS2 6DS - 2 months ago

Leasehold
Cash
ROI: 6%
63 m²
+4 photos

ValuationFair Value

Sold Prices£75K - £285K
Sold Prices/m²£2.1K/m² - £5.4K/m²

 

 

Square Metres

63 m²
Price/m²£2.8K/m²

Value Estimate

£175,000

 

 

End Value (After Refurb)

£210,000

Uplift in Value

+20%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£43,750

Stamp Duty & Legal Fees

£6,450

Refurb Costs

£30,339

Bridging Loan Interest

£4,594

Total Cash In

£86,882

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£210,000

Mortgage (After Refinance)

£157,500

Mortgage LTV

75%

Cash Released

£26,250

Cash Left In

£60,632

Equity

£52,500

Rent Range

£1,000 - £1,700

Rent Estimate

£1,381

Running Costs/mo

£952

Cashflow/mo

£429

Cashflow/yr

£5,143

ROI

6%

Gross Yield

9%

Local Sold Prices

50 sold prices from £75K to £285K, average is £206.5K. £2.1K/m² to £5.4K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£145K07/210.17 mi24, Tunbridge Road, Southend-on-sea SS2 6LT2
£220K12/230.17 mi24a, Tunbridge Road, Southend-on-sea SS2 6LT2
£265K12/230.2 mi57, Boston Avenue, Southend-on-sea SS2 6JH2
£235K03/230.2 mi49a, Boston Avenue, Southend-on-sea SS2 6JH2
£75K04/210.34 miFlat 27, Martins Court, Stadium Road, Southend-on-sea SS2 5DH2
£190K12/200.37 mi19, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£180K11/210.37 mi83b, Princes Street, Southend-on-sea SS1 1PT2
£165K10/230.37 mi7a, Rayleigh Avenue, Westcliff-on-sea, Southend-on-sea SS0 7DS2
£220K03/230.39 mi126, East Street, Southend-on-sea SS2 5EE2
£240K09/210.42 mi55, Shakespeare Drive, Westcliff-on-sea, Southend-on-sea SS0 9AA2
£180K08/230.44 mi32b, Elmer Avenue, Southend-on-sea SS1 1NB2
£187.5K07/210.44 mi15, Napier Avenue, Southend-on-sea SS1 1LY2
£150K06/210.45 mi7, Balmoral Road, Westcliff-on-sea, Southend-on-sea SS0 7DG2
£248K08/230.45 mi180, East Street, Southend-on-sea SS2 5EA2
£200K11/210.45 mi259, Hamlet Court Road, Westcliff-on-sea, Southend-on-sea SS0 7DD2
£235K10/230.46 mi10, Ashburnham Road, Southend-on-sea SS1 1QD2
£177K07/210.49 mi30a, Westborough Road, Westcliff-on-sea, Southend-on-sea SS0 9DP2
£235K01/210.5 mi2a, Dryden Avenue, Southend-on-sea SS2 5EU2
£166.5K11/200.5 miFlat 14, Napier Court West, Gordon Place, Southend-on-sea SS1 1NH2
£135K11/230.51 mi1, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JN2
£220K02/230.51 mi485a, Sutton Road, Southend-on-sea SS2 5PL2
£210K08/230.51 mi473b, Sutton Road, Southend-on-sea SS2 5PL2
£210K09/210.52 mi41, Central Avenue, Southend-on-sea SS2 5HR2
£200K06/210.52 mi8, Claremont Road, Westcliff-on-sea, Southend-on-sea SS0 7DZ2
£218K11/210.52 mi96a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£210K12/200.52 mi96, Ennismore Gardens, Southend-on-sea SS2 5RB2
£237.5K05/230.52 mi108a, Ennismore Gardens, Southend-on-sea SS2 5RB2
£185K02/210.52 mi30, Hamlet Road, Southend-on-sea SS1 1HJ2
£140.5K03/210.53 mi40, Sutton Road, Southend-on-sea SS2 5EW2
£184.5K10/210.53 mi46, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JW2
£150K12/200.53 mi82, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JW2
£200K09/210.54 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£202.5K02/210.54 mi29, South Avenue, Southend-on-sea SS2 5JA2
£235K11/200.54 mi16, St Johns Road, Westcliff-on-sea, Southend-on-sea SS0 7JZ2
£200K09/210.55 mi43a, Swanage Road, Southend-on-sea SS2 5HX2
£225K06/210.56 mi2, Burdett Avenue, Westcliff-on-sea, Southend-on-sea SS0 7JW2
£220K10/230.56 miGround Floor Flat, 28, Whitegate Road, Southend-on-sea SS1 2LQ2
£205K04/210.58 mi64, Westborough Road, Westcliff-on-sea, Southend-on-sea SS0 9DL2
£200K09/210.59 mi70a, South Avenue, Southend-on-sea SS2 5JB2
£244K06/210.6 miGround Floor Flat, 86, St Helens Road, Westcliff-on-sea, Southend-on-sea SS0 7LE2
£220K01/210.6 mi92, St Helens Road, Westcliff-on-sea, Southend-on-sea SS0 7LE2
£245K05/230.61 mi11a, Shakespeare Avenue, Westcliff-on-sea, Southend-on-sea SS0 0ST2
£130K08/230.61 mi75a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£193K12/230.61 mi6, Tyrrel Drive, Southend-on-sea SS1 2LN2
£210K10/200.61 mi8a, Tyrrel Drive, Southend-on-sea SS1 2LN2
£285K03/210.61 mi23b, Cambridge Road, Southend-on-sea SS1 1ET2
£200K11/210.61 mi12, Hermitage Road, Westcliff-on-sea, Southend-on-sea SS0 7NQ2
£208K03/230.63 mi158, Glenwood Avenue, Westcliff-on-sea, Southend-on-sea SS0 9DT2
£250K09/210.66 mi50, Cossington Road, Westcliff-on-sea, Southend-on-sea SS0 7NG2
£213K12/230.67 mi194, Fairfax Drive, Westcliff-on-sea, Southend-on-sea SS0 9BG2

Local Rents

38 rents from £1K/mo to £1.7K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,35011/240.01 mi-2
£1,50003/250.01 mi-2
£1,35002/250.01 mi-2
£1,35003/250.01 mi-2
£1,40009/240.02 mi-2
£1,55003/250.02 mi-2
£1,45011/230.02 mi-2
£1,12509/240.03 miThe Pinnacle , Southend-On-Sea2
£1,17502/250.03 miThe Pinnacle , 59 Victoria Avenue 2
£1,50010/240.03 mi-2
£1,40009/240.03 miVictoria Avenue, Southend-on-Sea2
£1,35003/240.03 miBeaumont Court2
£1,25003/240.03 miBeaumont Court, Southend-On-Sea2
£1,35009/240.03 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,45009/240.03 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,40009/240.03 mi2 bedroom 1st Floor Flat in Southend on Sea2
£1,45009/240.03 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,35009/240.03 miBeaumont Court, Victoria Avenue2
£1,35009/240.03 miBeaumont Court, Victoria Avenue, Southend on Sea2
£1,45009/240.03 miVictoria Avenue, SOUTHEND-ON-SEA2
£1,40009/240.03 miVictoria Avenue, Southend-on-Sea2
£1,65002/250.03 mi-2
£1,27509/240.03 miBeaumont Court, - Victoria Avenue, Southend-On-Sea2
£1,32509/240.04 miThe Avenue, Southend-on-sea, Essex2
£1,32503/240.04 miThe Avenue, Southend-on-sea, Essex2
£1,25009/240.06 mi-2
£1,25008/240.06 mi-2
£1,25009/240.06 mi-2
£1,30011/240.09 mi-2
£1,00004/250.13 mi-2
£1,35009/240.14 miSweyne Avenue, Southend On Sea2
£1,28001/250.16 mi-2
£1,70009/240.17 mi-2
£1,40009/240.17 miVictoria Avenue, Southend on Sea, SS22
£1,50004/250.2 mi-2
£1,35002/250.2 mi-2
£1,45009/240.23 mi-2
£1,25010/240.26 mi-2

Local Area Statistics

Population in SS2

36,418

Population in Southend-on-Sea

106,129

Town centre distance

0.67 miles away

Nearest school

0.20 miles away

Nearest train station

0.26 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+8%

Sales demand

Balanced market

Capital growth (5yrs)

+24%

Property History

Listed for £175,000

February 12, 2025

Description

  • Great investment opportunity / ideal for first time buyers! +
  • Spacious modern first floor two bedroom apartment located in the sought after 'The Pinnacle' development +
  • Open plan living space with modern white fully integrated kitchen +
  • Two double bedrooms and two modern bathrooms with showers +
  • Gated parking for one vehicle +
  • Concierge service Monday to Friday +
  • Walking distance to Southern centre and the mainline station +
  • Can be sold with tenant in situ, so immediate income upon completion +
  • 118 years remaining of the 125 year lease +

Great Investment Opportunity / Cash Buyers Only!

New to the market this modern spacious two bedroom first floor apartment is located in the popular 'The Pinnacle' development, located close to Southend-On-Sea centre.

The apartment itself benefits from a large entrance hallway leading to an open plan living area, modern white kitchen with integrated appliances, large master bedroom, ensuite bathroom with shower cubicle, second double bedroom, family bathroom with bath and shower, neutral decoration throughout and secure entry-phone access.

Residents have a right to park one vehicle on site in the gated car park.

This apartment has been successfully rented out since new with maximum level of occupancy. The property can be sold with tenant in situ, so immediate income upon completion.

118 years remaining of the 125 year lease.

Agent Details

Brick Management and Lettings, Hampshire

020 3871 3150

Next Steps?

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