Reigate Road, Worthing, West Sussex, BN11
MI

Reigate Road, Worthing, West Sussex, BN11

By Michael Jones & Company

£ 625,000

Reviews

3 out of 5 stars

Michael Jones & Company says ..

A rare investment opportunity to purchase the freehold and four, one bedroom leasehold flats, 2 with private garden/outside space. All four properties are Council Tax Band A.

Property Oracle says ..

This property in Worthing, West Sussex, presents a unique investment opportunity. The listing describes it as a freehold property encompassing four one-bedroom leasehold flats, each with potential rental income. The location on Reigate Road in the Marine area offers proximity to West Worthing train station, enhancing its attractiveness for commuters. Several nearby schools rated ‘Good’ by Ofsted provide further appeal to families. The property itself appears reasonably well-maintained, although some cosmetic updates and potential repairs to the bathrooms would likely enhance its value. The presence of a garden adds to its overall appeal. The list price of £625,000 requires further analysis to determine its competitiveness within the local market, particularly considering the lack of precise square footage details for each flat and the absence of rental income data. A detailed survey and financial analysis are recommended before making any investment decision. The property’s potential lies in its rental income generation, making it a suitable investment for those seeking a steady return. However, potential buyers should be prepared for potential refurbishment costs.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

Price
7
Condition
5
Location
7
Land
6
Bedrooms
1
Bathrooms
1
Sqft (est)
1,695.50

The heatmap indicates the level of crime in the area. The color of the heatmap indicates the crime severity and recency.

Metrics Year-on-Year

Average area value
417,776.00 £
Increased by 5.86 %
from 394,636.00 £
Est sale value
912,179.00 £
Increased by 29.95 %
from 701,937.00 £
Average area rental value
1,253.00 £/mo
Decreased by 3.76 %
from 1,302.00 £/mo
Est letting value
1,695.50 £/mo
Unchanged by 0.00 %
from 1,695.50 £/mo
Est rental Yield
3.60 %
Decreased by 9.09 %
from 3.96 %
Crime Rate
8.00 %
Unchanged by 0.00 %
from 8.00 %

Agent Activity

  • Michael Jones & Company created the listing.

Nearby Schools

NameTypeOfstedDistance
Elm Grove Primary School, WorthingCommunity SchoolGood0.48 KM
Thomas A Becket Infant SchoolCommunity SchoolGood1.09 KM
Tarring Children And Family CentreChildren's Centre Linked Site1.10 KM
Thomas A Becket Junior SchoolCommunity SchoolGood1.42 KM
Durrington High SchoolAcademy ConverterGood1.53 KM

Images

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Nearby Streets

NameAverage PriceAverage SqftDistance
Rugby Road £ 000.00 KM
High Beeches £ 515,00000.00 KM
Rectory Road £ 000.00 KM
Fairfields £ 000.00 KM
Steeple View £ 000.00 KM

Nearby Transport

NameNLCTLCDistance
West Worthing5278WWO0.52 KM
Durrington-On-Sea5282DUR1.54 KM
Worthing5279WRH2.37 KM
Goring-By-Sea5272GBS3.93 KM
East Worthing5283EWR4.74 KM

Nearby Listings

AddressPriceTypeScoreDistance
Reigate Road, Worthing, West Sussex, BN11 £ 625,000BUY6 / 100.00 KM
Reigate Road, Worthing, BN11 £ 575,000BUY7 / 100.03 KM
Reigate Road, Worthing, BN11 £ 575,000BUY7 / 100.05 KM
Reigate Road, Marine, Worthing, West Sussex,, BN11 £ 595,000BUY7 / 100.06 KM
Tarring Road, Worthing, West Sussex, BN11 £ 425,000BUY7 / 100.08 KM

Nearby Properties

AddressPriceDistance
77 Reigate Road £ 241,0000.03 KM
114a Reigate Road £ 155,0000.03 KM
75 Reigate Road £ 237,5000.03 KM
59 Reigate Road £ 278,0000.03 KM
87 Reigate Road £ 417,5000.03 KM