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24 Avondale Road London CR2 6JA

Residential Investment Opportunity with Value-Add Potential
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  • A freehold house arranged as 2 flats and a 5 unit HMO.
  • The property is located 0.8 miles from South Croydon Station & 0.7 miles from Sanderstead Station.
  • GIA 2,855 sq. ft.
  • The two apartments are both located on the ground floor, fully let producing £34,200 per annum. Both of which have private access to a rear garden.
  • - Flat 1 is arranged as a 1 bedroom apartment measuring approximately 530 sq ft. Let on an AST agreement producing £16,200 per annum.
  • - Flat 2 is arranged as a two bedroom apartment measuring 512 sq ft. Let on an AST agreement producing £18,000 per annum.
  • The upper parts are arranged as a 5 unit HMO (fully licensed) producing £55,200 per annum. Measuring approximately 1,549 sq. ft.
  • Thus, the total income is £89,400 per annum.
  • There is additional land to the rear which may suit redevelopment subject to obtaining the necessary consents.
  • Flat 1 has access to the basement (230 sq ft), it is full head height with windows and may suit conversion into an additional room or self contained room subject to obtaining the necessary consents.
  • Freehold.

We are instructed to seek Offers in Excess of £1,100,000 Subject to Contract. Which equates to a GIY of 8.1% and a low capital value of £380 per sq. ft.

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