Crouch End, N London | Investment Property for Sale | VES-N8-001

Opportunity to purchase 2 flats in Crouch End generating £31,980 rent pa and a gross yield of 5.8%

£550,000

2-unit block

VES-N8-001

INITIAL INVESTMENT

£251,100

GROSS RENT / YIELD

£31,980 / 5.8%

NET RENT / YIELD

£23,460 / 4.3%

ADD TO FAVOURITES

The block

TENURE

Leasehold

NO OF UNITS

2

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

1,189

PRICE SQ FT

£463

GROUND RENT

£500

Property information

  • The property consists of 2 individual 1-bedroom flats, both are fully tenanted
  • Flat 1 is approximately 489 sq ft
  • Flat 2 is approximately 700 sq ft and has an undemised large roof terrace
  • Both flats were totally refurbished less than 3 years ago to new build status
  • Tenants have a 2 months notice allowing the choice for vacant completion
  • Current cost for insurance on this property is approximately £600 per annum
  • EPC rating B

Leasehold information

  • Service charge: NIL
  • Term of lease: 99 years
  • Year lease started: 2016

Notes

The vendor is happy to sell both apartments individually, please see their separate listings too if you are interested.

Please note that Vesta has not visited this property and that all material has been provided by the vendor.

We are currently awaiting the AST from the landlord and will update the listing when received.

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£31,980

Equivalent of £2,665 per calendar month (PCM).

GROSS RENTAL YIELD

5.8%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£23,460

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

4.3%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£8,520

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Crouch End, North London

Crouch End is an area in North London and lies approximately 5 miles from the City of London in the borough of Haringey.

Whilst the area doesn’t have its own tube station there are 4 stations nearby, which can be reached via short bus rides, servicing the Victoria, Piccadilly and Northern Lines. There are also 5 railway stations Hornsey, Harringay, Crouch Hill, Finsbury Park and Harringay Green Lanes railway station, as well as a number of bus services.

Crouch End is also known for its local arts scene and is home to the Kings Head, one of the UK’s top comedy venues, as well as the independent Art House cinema and the Crouch End Picturehouse. The Church Studios most notably attracted Dave Stewart and Annie Lennox of the Eurythmics and Bob Dylan in the 1990s. According to the local council a higher than average proportion of the population here works in the creative industries.

Whilst the red-brick Clock Tower on Crouch End Broadway has become a much-loved icon of Crouch End another famous landmark is only 1.5 miles away, Alexandra Palace. The lovingly named Ally Pally and the surrounding Alexandra Park offer a great variety of activities and events for the whole family all year round.

High Street,

London,

Greater London,

England,

N8 7PB

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