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98 Fitzroy Avenue, University Area, BT7 1HX

Offers Around £225,000
  • status Agreed
  • bedrooms 6 Bedrooms
  • receptions 5 Receptions
  • style Apartment
  • Price Offers Around £225,000
  • Style Apartment
  • Bedrooms 6
  • Receptions 5
  • Heating Economy 7
  • EPC Rating C80 /B81
    EPC
  • Status Agreed
Kirby O'Connor - Assoc RICS GOC Estate Agents Office: 028 9066 2366
Kirby O'Connor

Description

A unique investment opportunity, this mid terrace has been converted in 1996 into 5 apartments currently rented with a return of £24,000 per annum. All self contained kitchens, bathrooms and living areas.The ground floor apartment has recently been modernised with gas central heating. Double glazed windows and E7 heating in the remaining 4 apartments. A prime location, this apartment block is fully let to professionals, convenient to QUB, Botanic Avenue, Ormeau Road or easy access to Belfast City Centre. Offering easy, low maintenance living. Ideal investment portfolio with excellent rental return.

Features

  • A Mid Terrace Converted into 5 Self Contained Apartments
  • 4 One Bedroom units and 1 Two bedroom Apartments
  • Gas & E7 Central Heating
  • Double Glazed windows
  • Fully Fitted Kitchens with White Goods and Dining Areas
  • Separate Lounge/Living Areas
  • Hard Wired Control Panel for Fire Alarm System
  • HMO licence runs until 3/12/22

Room Details

  • HALLWAY:

    Communal hallway Fire alarm control panel Electric meter cupboard.
  • APARTMENT 1

    Entrance hall Burglar alarm control panel
  • LIVING ROOM: 14' 0" X 12' 0" (4.27m X 3.66m)

    Original glass display cabinet.
  • KITCHEN: 9' 0" X 7' 0" (2.74m X 2.13m)

    Range of high and low level units, single drainer stainless steel sink unit, gas boiler. Part tiled walls,tiled floor, washing machine and fridge/freezer.
  • SHOWER ROOM:

    Shower pod with Triton electric shower with shower door, low flush wc, vanitry unit and extractor fan.
  • BEDROOM (1): 11' 0" X 10' 0" (3.35m X 3.05m)

  • BEDROOM (2): 9' 0" X 8' 0" (2.74m X 2.44m)

    Large built in robe.
  • APARTMENT 2a 19' 0" X 11' 0" (5.79m X 3.35m)

    Open plan comprising of Kitchen/living . Kitchen has range of high and low level units,single drainer stainless steel sink unit, cooker and fridge.
  • SHOWER ROOM:

    Enclosed shower cubical with Triton Shower, shower screen,low flush wc and wash hand basin. Vanitry unit and extractor fan.
  • APARTMENT 2

  • KITCHEN: 10' 0" X 6' 0" (3.05m X 1.83m)

    Range of high and low level units, single drainer stainless steel sink unit,washing machine, cooker and fridge.
  • SHOWER ROOM:

    Electric shower with shower screen, low flush wc and wash hand basin. Vanitry unit. Extractor fan.
  • LIVING ROOM: 11' 11" X 9' 0" (3.63m X 2.74m)

    E7 Heater.
  • BEDROOM (1): 11' 11" X 7' 0" (3.63m X 2.13m)

    Built in robe.
  • APARTMENT 3

  • KITCHEN: 10' 0" X 6' 0" (3.05m X 1.83m)

    Range of high and low level units, single drainer stainless steel sink unit,washing machine, cooker and fridge.
  • SHOWER ROOM:

    Comprising of electric shower, shower scereen, low flush wc and vanity unit. Extractor fan.
  • BEDROOM (1): 11' 11" X 7' 0" (3.63m X 2.13m)

    Built in robe.
  • LIVING ROOM:

    E7 Heater.
  • APARTMENT 4

    Hallway leading to upper apartment. Storage.
  • KITCHEN: 11' 0" X 10' 0" (3.35m X 3.05m)

    Range of high and low level units, single drainer stainless steel sink unit, washing machine and cooker. Views over the roof tops.
  • SHOWER ROOM:

    Comprising of electric shower, shower scereen, low flush wc, vanity unit and extractor fan.
  • BEDROOM (1): 11' 11" X 7' 0" (3.63m X 2.13m)

    Built in double robe.
  • LIVING ROOM: 11' 11" X 9' 0" (3.63m X 2.74m)

    Access to roofspace. E7 Heater.
  • Fire escape to rear yard from first floor.

Location

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Directions

Driving along Malone Road past QUB. Turn into College Green and continue into Fitzroy Avenue.

Mortgage Calculator

  • Property Value
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Disclaimer: The following calculations act as a guide only, and are based on a typical repayment mortgage model. Financial decisions should not be made based on these calculations and accuracy is not guaranteed. Always seek professional advice before making any financial decisions.

Advice on Stamp Duty

Advice on Stamp Duty

Stamp Duty Land Tax is a percentage paid on the purchase of a home or non-residential property to the Inland Revenue.  You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price above £125,000 when you buy residential property, eg a house or flat.

There are different rules if you’re buying your first home and the purchase price is £500,000 or less.

Use the SDLT calculator to work out how much tax you’ll pay.


Rates if you’re buying your first home

You can claim a discount (relief) so you don’t pay any tax up to £300,000 and 5% on the portion from £300,001 to £500,000.

You’re eligible if:

·you, and anyone else you’re buying with, are first-time buyers

·you complete your purchase on or after 22 November 2017

If the price is over £500,000, you follow the rules for people who’ve bought a home before.


Rates if you’ve bought a home before

Freehold sales and transfers

You can also use this table to work out the SDLT for the purchase price of a lease (the ‘lease premium’).


Property or lease premium or transfer value                                              SDLT rate

Up to £125,000                                                                                                Zero
The next £125,000 (the portion from £125,001 to £250,000)                       2%
The next £675,000 (the portion from £250,001 to £925,000)                       5%
The next £575,000 (the portion from £925,001 to £1.5 million)                    10%
The remaining amount (the portion above £1.5 million)                              12%

Example

If you buy a house for £275,000, the SDLT you owe is calculated as follows:

  • 0% on the first £125,000 = £0
  • 2% on the next £125,000 = £2,500
  • 5% on the final £25,000 = £1,250
  • Total SDLT = £3,750

New leasehold sales and transfers

When you buy a new residential leasehold property you pay SDLT on the purchase price of the lease (the ‘lease premium’) using the rates above.
If the total rent over the life the lease (known as the ‘net present value’) is more than £125,000, you also pay SDLT of 1% on the portion over £125,000 - unless you buy an existing (‘assigned’) lease.

You can work out how much SDLT you’ll pay for your new residential lease using HMRC’s:

Higher rates for additional properties

You’ll usually have to pay 3% on top of the normal SDLT rates if buying a new residential property means you’ll own more than one.

Use the SDLT calculator to work out how much tax you’ll pay.  You may not have to pay the higher rates if you exchanged contracts before 26
November 2015. 


If you’re replacing your main residence

You won’t pay the extra 3% SDLT if the property you’re buying is replacing your main residence and that has already been sold.  If there’s a delay selling your main residence and it hasn’t been sold on the day you complete your new purchase:

  • you’ll have to pay higher rates because you own 2 properties
  • you may be able to get a refund if you sell your previous main home within 36 months
  • There are special rules if you own property with someone else or already own a property outside England, Wales and Northern Ireland.
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