2-bedroom flat · E3 4RQ
For saleListed 159 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
The property itself comprises a large and bright open-plan kitchen, dining and living room with double doors leading out to a triple-sized decked private east-facing balcony, with views over the well-kept courtyard and East London.
The kitchen has been fully fitted with integrated appliances including an AEG oven, microwave and hobs, dishwasher and a large fridge/freezer.
The two bedrooms are both a great size, one of which is the master room with an en-suite shower, fitted wardrobes and access to the terrace.
There is also an additional family bathroom with a bath and shower above. The hallway has two extremely large storage cupboards with a washer/dryer.
Further benefits of the development include a secure phone entry system, locked bike storage, lift access and various communal courtyards.
The location of the development means that Mile End Tube Station (Central, District and Hammersmith & City Lines) is only a short walk away, making commuting into the City and further into West London extremely easy.
For those that need Canary Wharf, Devon’s Road DLR is also within easy reach, although you could easily walk there within 25 minutes.
The property is also ideally located for cyclists, with good access to several major cycle highways.
There is plenty going on around Mile End with all necessary amenities close by including various supermarkets, as well as local attractions such as the beautiful Victoria Park and Bartlett Park and a choice of pubs, restaurants and cafes.
The development also benefits from an active community with everything from dog-walking to bakery delivery services; there are also cycling clubs available.
Tenure: Leasehold Tax Council Band: D Local Authority: Tower Hamlets Service charge: £2,408pa Ground rent: £250pa Lease length: 250 years from 2017
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Flat 603, 24, Nellie Cressall Way, London
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