We bought a one-bedroom apartment in West Hampstead (London) just before the Covid-19 lockdown in May 2020. Our plan was to massively increase it’s value by converting it into a two-bedroom apartment and then renting it out to generate monthly cashflow & benefit from capital appreciation in the future.
The Work
The apartment was fully renovated from it’s previous condition and re-configured by relocating the kitchen into the living room to create an open-plan living room, and then the original kitchen was converted into the second bedroom.
Before
After
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The Results
£
61366
Value Added (Profit)
14
%
Return on Investment Per Annum (ROI)
£
7116
Annual Net Cashflow
Financials
Acquisition
Purchase
£
303750
Price Stamp Duty
£
14300
Refurbishment
£
26000
Furniture (& Others)
£
16408
Lease Extension
£
13979
Legal Fees
£
5848
Financing
£
8348
Re-finance
GDV
£
450000
Mortgage
£
337965
Cash Left In
£
50668
Market Rent
£
1800
Mortgage Interest
£
1027
Management
£
180
Monthly Cashflow
£
573
