2-bedroom flat · WS2 8JD
Sold STCListed 224 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
iLove homes® are offering for sale as a 'going concern' to investment landlords, with a passing rent of £800 per calendar month and offering a very attractive yield in the region of 11%.
This purpose built Ground Floor apartment is particularly desirable to prospective tenants due to its location on a modern estate close to Walsall Town Centre with convenient access to motorway, transport links, Walsall manor hospital, shops, school and other amenities.
The property briefly comprises; entrance hall, open-plan lounge/kitchen, fitted kitchen with a hob and electric oven and space for fridge/freezer, storage cupboard, intercom entry system, two bedrooms, en-suite shower room and family bathroom.
The property also has the benefit of 1 allocated parking space and visitor parking. For viewings, contact iLove homes in the first instance.
Main Communal Entrance: With security system and intercom telephone stairs leading to the main entrance door.
Hall: With two storage cupboards and doors leading to: Open plan Lounge & Kitchen: 5.46m (17ft 11in) x 3.18m (10ft 5in) Kitchen suite comprising of bowl and a half stainless steel units with mixer tap above incorporated into a roll-top work surface.
Base and wall mounted units, plumbing for washing machine with integrated electric oven and gas fired hob and appliance space.
Lounge comprising of double glazed window, radiator, television, phone and power points.
Bedroom 1: 4.87m (16ft 0in) x 3.44m (11ft 3in) Comprising of storage cupboard, double glazed window and radiator En suite: Comprising of pedestal wash basin, low level WC and shower cubicle.
Bedroom 2: 2.59m (8ft 6in) x 2.37m (7ft 9in) Comprising of double glazed window and radiator Bathroom: Comprising of pedestal wash basin, low level WC and panelled bath with electric shower above.
Outside With communal gardens and an allocated parking space and visitor parking.
Nearby Services Closest primary school: Croft Academy (270 yards) Closest secondary school: Queen Mary's High School (0.7 miles) Closest GP: St Peter's Surgery (390 yards) Closest hospital: Manor Hospital (1 mile) Viewings Please contact iLove homes.
Viewings are strictly by appointment only Tenure We are advised by the seller that the property is LEASEHOLD with approximately 105 years remaining on the lease.
We have not sought to verify the legal title of the property, we would urge buyers to obtain verification from their solicitor.
Please note that the property is to be sold with the tenant 'In Situ', currently commanding a rent of £800 per calendar month.
Lease is approximately Lease is 125 years from 18th December 2006 (approximately 105 years remaining) Annual Ground rent - £150 per annum Annual Service charge - £1375 per annum Measurements All measurements are approximate and are supplied for guidance only, as such they must not be considered to be entirely accurate Money Laundering Regulations Prospective purchasers will be asked to produce photographic identification and proof of residency once a deal has been agreed in principle.
Photography Please be advised that some images included in our marketing materials feature virtual staging techniques designed to illustrate the property’s potential appearance; these digitally altered images do not represent its current condition
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
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FAQ
About Southmead Way, Walsall
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