Mitcham, CR4 2NQ | Investment Property for Sale | VES-CR4-001

Opportunity to purchase an apartment in Mitcham generating £11,340 rent pa and a gross yield of 4.4%

£260,000

Apartment

VES-CR4-001

INITIAL INVESTMENT

£117,300

GROSS RENT / YIELD

£11,340 / 4.4%

NET RENT / YIELD

£7,445 / 2.9%

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The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£65

SERVICE CHARGE

£1,200

1 bedroom

1 bathroom

1 reception room

430

Unfurnished

Leasehold information

  • Length of lease: 99 years
  • Year lease started: 1988

Property information

  • Located on the first floor
  • Off-road parking available
  • Located within gated development
  • EPC rating D
  • Close to bus stops and shops
  • Monthly rental income £945

Note We are currently awaiting the tenancy agreement 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 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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£11,340

Equivalent of £945 per calendar month (PCM).

GROSS RENTAL YIELD

4.4%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£7,445

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

2.9%

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

FULLY MANAGED OPERATING COSTS

£3,895

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

Click to understand assumptions.

Disclaimer

All financial information is provided as a guideline only, is based on estimates and assumptions and is subject to change. Buyers are advised to seek independent financial advice. Capital at risk.

About Mitcham, South London

Mitcham is a district in south London within the London Borough of Merton. It lies approximately 7 miles southwest of Charing Cross.

Mitcham Junction and Mitcham Eastfields are local railway stations which are served by the Thameslink. Regular trains run to Sutton, Epson, London Victoria, London Bridge and St Albans. It is also connected through the Croydon Tramlink to Wimbledon, Croydon, New Addington as well as Beckenham Junction and Elmers End via change at Croydon.

There are numerous bus routes going through Mitcham including night buses to Aldwych and Liverpool Street in central London.

You can find two great parks in Mitcham too, Morden Hall Park, which boasts great views of London’s skyline and Mitcham Common. It offers 460 acres of green space, including a pond Mitcham Gold Club. There is also Mitcham Cricket Green which is reported to be the oldest cricket ground still in use since 1685.

With its good transport connections and close proximity to central London Mitcham is an ideal commuter district both work, entertainment and shopping.

Spring Grove,

Mitcham,

Greater London,

England,

CR4 2NQ

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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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