Penge, SE20 8QJ | Investment Property for Sale | VES-SE20-142

Opportunity to purchase a 4-bed house that comes with a self-contained 1-bed basement flat

£815,000

Block of House & Flat

VES-SE20-142

INITIAL INVESTMENT

£374,700

GROSS RENT / YIELD

£33,000 / 4.0%

NET RENT / YIELD

£25,347 / 3.1%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

2

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

1,602

PRICE SQ FT

£509

Opportunity to purchase a freehold property that features a 4 bedroom house and the 1 bedroom ground floor flat.

Property details

  • Spread over 4 floors
  • Victorian 4-bed house
  • Plus a self-contained 1-bed flat to the basement
  • Off-street parking for multiple cars
  • Has original features
  • Comes with a 175 ft garden
  • Potential to convert into flats

Tenancy Details Basement Flat

  • Tenancy type: AST
  • Tenancy start date: 08/09/18
  • Tenancy end date: 07/09/19
  • Rent: £1,150 pcm; £13,800
  • Deposit: £1,598.28
  • EPC rating D

Tenancy Details Semi-Detached House

  • Tenancy type: AST
  • Tenancy start date: 05/10/18
  • Tenancy end date: 04/10/2019
  • Rent: £1,600 pcm; £19,200
  • Deposit: £2,400
  • EPC rating E

Note

Vesta has not visited the property and the marketing 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.

Financials

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Rental Income

GROSS RENT PER ANNUM

£33,000

Equivalent of £2,750 per calendar month (PCM).

GROSS RENTAL YIELD

4.0%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£25,347

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.1%

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

FULLY MANAGED OPERATING COSTS

£7,653

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 Penge, SE London

Penge is a district of south-east London, in the London Borough of Bromley and is located 7.6 miles south-east of London Victoria.

Penge is a very popular commuter suburb and has two main railway stations that offer superb travel options connecting it to London. This area is serviced by Penge West and Penge East railway station. Penge West station is managed by London Overground which runs 4 trains per hour (tph) northbound to Highbury and Islington and 4 tph southbound to West Croydon. Southern also operates services from this station with 2 tph northbound to London Bridge and 2 tph southbound to Caterham. Penge East is managed by Southeastern and runs on the Bromley South Line, this service offers 4 tph northbound to London Victoria and 4 tph southbound to Bromley south, 2 of which continue to Orpington.

As this property is in the capital all of one’s retail and dining requirements are only a short trip away via train which shall drop you in the centre of town where the world is truly your oyster.

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

This location could be ideal for young families seeking schooling options for their young children. St Johns C of E Primary School is a local school offering mixed-sex education up to the age of 11. For those looking for secondary school education there are various Harris Academies in the area that teach from the age of 11 all the way to sixth form.

Laurel Grove,

London,

Greater London,

England,

SE20 8QJ

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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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