3-bedroom flat · PO4 0NH
Sold STCListed 228 days
Opportunity summary
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About
GUIDE PRICE £285,000-£300,000. 3 BEDROOM GROUND FLOOR APARTMENT WITH SHARE OF FREEHOLD, GARAGE AND OFFERED WITH NO CHAIN.
We are pleased to offer for sale this 3 bedroom ground floor apartment which requires updating but has been priced to allow for refurbishment.
The accommodation comprises 3 bedrooms, good size lounge/dining room, kitchen, bathroom and separate WC.
Other benefits include double glazing, gas central heating and a well maintained block/communal gardens.
Conveniently located close to seafront, Canoe Lake, Albert Road, bars, restaurants, cafes, shops and bus routes.
Communal Entrance - Security intercom providing access to communal hall with flat front door to: Entrance Hall - Two storage cupboards, security entry phone, textured ceiling, radiator.
Lounge/Dining Room - 4.98m x 4.01m (16'4 x 13'2) - Double glazed window to front, coved ceiling, feature fireplace, radiator.
Kitchen - 3.10m max x 3.12m (10'2 max x 10'3) - Single drainer stainless steel sink unit with wall and base cupboards.
Electric cooker, plumbing for washing machine, space for fridge, double glazed windows to rear overlooking communal gardens. Garden to side leading to communal garden.
Bedroom 1 - 5.05m x 3.18m (16'7 x 10'5) - Two double glazed windows to rear overlooking communal gardens. Coved ceiling, built in wardrobe, radiator.
Bedroom 2 - 4.50m into bay x 3.05m (14'9 into bay x 10') - Double glazed bay window to front, radiator. Bedroom 3 - 3.25m x 2.24m (10'8 x 7'4) - Double glazed window to front, radiator.
Bathroom - 1.73m x 1.65m (5'8 x 5'5) - White suite comprising bath with shower attachment, wash hand basin, part tiled walls, laminate flooring, double glazed window to side, heated towel rail, extractor.
Cloakroom - 1.68m x 1.55m (5'6 x 5'1) - WC, wash hand basin, window to side, Ideal gas boiler.
Garage - 5.26m x 2.57m (17'3 x 8'5) - Electric gates giving access to the garage area where Number 23 is located, which has an up and over door.
Additional Information - Tenure - Share of freehold Lease - 999 Years from 17/02/2023 - 996 Years remaining Service Charges - £4100pa which includes maintenance fees, reserve fund and buildings insurance Ground Rent - N/A Council Tax - Band - D The information provided about this property does not constitute or form part of an offer or contract, nor may it be used as a representation.
All interested parties must verify accuracy and your solicitor must verify tenure/lease information, fixtures and fittings and, where the property has been extended/converted, planning/building regulation consents.
All dimensions are approximate and quoted for guidance only as are floor plans which are not to scale and their accuracy cannot be confirmed.
Reference to appliances and/or services does not imply they have been tested.
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 Festing Road, Southsea
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