Croydon, CR2 6BJ | Investment Property for Sale | VES-CR2-142

Opportunity to purchase a 3-unit block in Croydon generating £46,500 gross rent pa & 4.4% gross yield

£1,050,000

3-unit block

VES-CR2-142

INITIAL INVESTMENT

£321,000

Based on

deposit: £262,500

stamp duty: £54,000

mortgage fees: £1,500

conveyancing fees: £3,000

GROSS RENT

£46,500

GROSS YIELD

4.4%

ADD TO FAVOURITES

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The block

TENURE

Freehold

NO OF UNITS

3

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

2,235

PRICE SQ FT

£470

Please note that this property is also part of a bigger portfolio sale

Block information

  • Spread over 3 floors
  • Comprising of:
    • 1 x 3-bed / 2-bath apartment
    • 1 x 2-bed / 1-bath apartment
    • 1 x 1-bed / 1-bath apartment
  • All apartments were converted and renovated in 2017
  • Flat 1 has access to a private garden
  • Flat 2 has access to a private roof terrace
  • Flat 3 has a balcony
  • Tenants have been in situ since 2017/2018
  • EPC rating C

Rental information

  • Flat 1 - 3-bed - 915 sq ft - £1,400 pcm
  • Flat 2 - 2-bed - 770 sq ft - £1,275 pcm
  • Flat 3 - 1-bed - 550 sq ft - £1,200 pcm
  • Total rental income pcm: £3,875
  • Total rental income pa: £46,500

Available upon request

  • EPCs for all units
  • Block breakdown

Note

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

Floorplans

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

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Croydon, SE London

Croydon is a large town and borough in the south of London, situated 9.5 miles south of Charing Cross.

This area is serviced by East Croydon Station which is one of the busiest non-terminal stations in London and is managed by Southern. This station offers fantastic transport routes to destinations in Sussex, Surrey and onwards to Brighton, as well as many fast train services in to the City of London and other suburban London destinations. Frequent services are run by Thameslink from Brighton via London Bridge and St Pancras International to Bedford on the London – Gatwick Airport – Brighton Line. Southern runs 10 trains per hour (tph) to London Victoria and 6 tph to London Bridge as well as several services southbound to areas in Sussex. This station also has a Tramlink service that provides routes to destinations within this southern suburban area of greater London.

Croydon is one of the largest commercial districts outside Central London, with an extensive shopping district. This has led it to become considered to be the third main central business district in Greater London. The Whitgift Centre and Centrale shopping centre are the backbone of the shopping strip with plans for a new £1bn Westfield to be built to replace it in the near future. Along the main high street and within the shopping centre one could find a wide selection of stores and boutiques including many well-known household names. This area is also plentiful in restaurants and bars and with the opening of Boxpark in recent years has added to the process of gentrification and breathing new life in to the area.

In the City of London and surrounding areas there are thousands of job opportunities and there are numerous adequate travel options to get you there.

Blenheim Park Road,

South Croydon,

Greater London,

England,

CR2 6BJ

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Important Note

All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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