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See how verdicts work1-bedroom house · BN11 4GU
Listing removedReduced £10k (−6.7%) on 7 FebListed 368 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Michael Jones is delighted to offer for sale this larger than average one bedroom ground floor CHAIN FREE warden assisted apartment having the benefit of double glazed doors leading out to a WEST FACING patio area.
There are also a wealth of modern and safety conveniences to include double glazing, emergency pull-cords and an on-site (part-time) House Manager.
The property is accessed via a secure communal entrance leading to other communal areas and facilities, all of which are exceptionally decorated, leading via a well-lit corridor to a personal front door to the apartment.
The entrance hall has a small storage cupboard as well as a much larger cupboard housing the hot water tank and gives access to all the main rooms.
The dual aspect lounge/diner has an electric wall heater, double glazed window, alarm pull cord and the feature of a West facing double glazed door leading out to a small patio area.
From the lounge are glazed double doors that lead into the kitchen which has a double glazed window, a range of work tops, cupboards, drawers, built in over and hob, space for a fridge/freezer and space for a further appliance.
The good size bedroom also facing West has a range of mirror fronted wardrobe cupboards, storage heater, alarm pull cord and a double glazed window.
Finally, there is a large fully tiled shower room with a large step in shower cubicle and shower attachment, wash hand basin with cupboards below, low level wc suite, wall heater and extractor fan.
This sought after retirement development offers a wealth of communal residents facilities including a large residents lounge with kitchen, laundry room and guest suite.
There are also a wealth of activities, groups and social events for residents to enjoy to include Bingo, Quiz Nights, Barbeques and other seasonal events if you wanted to participate.
Externally, there are delightful, well-maintained communal gardens that surround the development and ample un-allocated residents parking.
Tenure: The property is leasehold with the remainder of a 125 year lease from 1 May 2002. Outgoings: service charge: £3380 per annum. Ground Rent: £500 per annum. Council Tax Band B.
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 Mill Road, Worthing, West Sussex, BN11
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