Property Investor App

Property Information

Block of 4 Flats - Potential Of £28k PA

Rishton Street, Blackpool, FY1 4DB

Purchase Price = £150,000

Finder’s Fee = £8,700

Potential Gross Income = £2,395 pcm = £28,740 per annum

CASHFLOW AFTER ALL THE ABOVE COSTS

Managed = £4,430 pcm = £53,160 per annum

Self Managed = £5,196 pcm = £62,353 per annum

Property Description

For a limited time only, we have managed to secure a readymade block of four apartments within proximity to Blackpool City Centre.

As standard single let, the property could achieve an average of £2,395 pcm = £28,740 per annum
As serviced accommodation, the property could achieve an average of £6,384 pcm = £76,608 per annum

The property briefly comprises:

4 apartments

The property is conveniently situated in a perfect location within proximity to excellent transport connections, primary schools, local shops, and all the local amenities.

Location

The property is within proximity to:

0.6 miles – Tower Train Station
0.3 miles – Blackpool and the Fylde College University Centre
1.9 miles – Blackpool Victoria Hospital
1.8 miles – Blackpool Pleasure Beach
2.1 miles – Blackpool Zoo
1.0 miles – Blackpool North
0.6 miles – Blackpool City Centre

Rental

As Serviced Accommodation

Each unit could be rented for an average of £75 per night.

Based on 20% Occupancy = £1,824 pcm = £21,888 per annum
Based on 30% Occupancy = £2,736 pcm = £32,832 per annum
Based on 40% Occupancy = £3,648 pcm = £43,776 per annum
Based on 50% Occupancy = £4,560 pcm = £54,720 per annum
Based on 60% Occupancy = £5,472 pcm = £65,664 per annum
Based on 70% Occupancy = £6,383 pcm = £76,596 per annum
Based on 80% Occupancy = £7,296 pcm = £87,552 per annum
Based on 90% Occupancy = £8,208 pcm = £98,496 per annum
Based on 100% Occupancy = £9,120 pcm = £109,440 per annum

Potential Gross Income Based on 70% Occupancy = £6,384 pcm = £76,608 per annum

As Standard Single Let

Flat 1 - Currently rented for £695 per month
Flat 2 - Could be rented for £550 per month
Flat 3 - Could be rented for £550 per month
Flat 4 - Could be rented for £600 per month

Potential Gross Income = £2,395 pcm = £28,740 per annum

The Vision

To purchase the property for £150,000 and enjoy great cashflow
Potential to refinance based on a commercial valuation allowing you to pull out a large majority of your initial capital.
Potential to use the property as serviced accommodation to generate high cashflow.

Cashflow Forecast

Potential Rental Income (Serviced Accommodation) = £6,384 pcm = £76,608 per annum
Potential Rental Income (Single Let) = £2,395 pcm = £28,740 per annum

Cost To Consider

Serviced Accommodation

Mortgage Cost = £469 pcm
Bills and Utilities = £400 pcm
Management @ 15% + Vat = £1,149 pcm

CASHFLOW AFTER ALL THE ABOVE COSTS

Managed = £4,366 pcm = £52,392 per annum

Self Managed = £5,515 pcm = £66,180 per annum

As Single Let

Mortgage Cost = £469 pcm
Management @ 15% + Vat = £287 pcm

CASHFLOW AFTER ALL THE ABOVE COSTS

Managed = £1,639 pcm = £19,668 per annum

Self Managed = £1,926 pcm = £23,112 per annum

Capital Required To Get Involved

Purchase Price = £150,000
Deposit @ 25% = £37,500
Legals = £1,500
Stamp Duty = £0
Finder’s Fee = £8,700

Total Capital Required = £46,200

The Return On Investment based on an investment of £46,200

Serviced Accommodation

Managed = 110%

Self Managed = 139%

Single Let

Managed = 43%

Self Managed = 50%

We are in contact with a local letting agency within this location who would be able to manage the property.

Next Steps

Reserve
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Proceed

Disclaimer - IMPORTANT NOTE TO PURCHASERS:

We endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and none is to be relied upon as statements of representation or fact. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency is given. All measurements have been taken as a guide to prospective buyers only, and are not precise. Please be advised that some of the particulars may be awaiting vendor approval. If you require clarification or further information on any points, please contact us, especially if you are traveling some distance to view. Fixtures and fittings other than those mentioned are to be agreed with the seller.