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Ranelagh Gardens, Ilford, IG1

London

£675,000
Listed on 03/09/2025

Property Details

Bedrooms
4
Type
Terraced house
Area
1504 sqft

Description

This freehold property presents a distinctive investment opportunity, set in a prime location just off The Drive and Cranbrook Road. Currently divided into two self-contained flats—a one-bedroom unit on the ground floor and a two-bedroom flat above—it offers flexible living arrangements. With vacant possession and no onward chain, this property stands ready for immediate occupation or rental. The building features off-street parking, a communal garden area, and valuable basement storage. Its layout allows for easy conversion back into a single-family residence, appealing to both investors seeking rental income and families looking for a home. There is also significant potential for extensions or renovations, subject to planning permission, which could enhance its value further. Situated close to Ilford's Elizabeth Line station provides excellent transport links, making it ideal for commuters. Additionally, nearby amenities include schools and the scenic Valentines Park, enhancing the appeal of the location for future tenants or homeowners. With careful attention to renovation and possible reconfiguration, this property offers an outstanding opportunity to create long-term value in a desirable area.

Investment Analysis

(IG1 area)

Above Market Value

This property is priced +0.3% above area average per sq ft

+0.3%
This Property
£449/sq ft
Area Average
£447/sq ft
Avg Rent (weekly)
£380
Avg Yield
4.7%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £60,000
Target Value
£740,013
10% above area average per sq ft
Potential ROI
+0.7%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
18
Average per month
Market Turnover
9%
Properties sold annually

Local Market Trend (IG1)

Area prices are rising by +14.5% over the last 12 months
3 year growth: 7.5%
5 year growth: 22.7%
Investment Disclaimer: Analysis based on IG1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Ranelagh Gardens, Ilford, IG1
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.19%

Current average variable rate is 6.78%

Monthly Repayments
£2,473
Based on a loan of £506,250 over 30 years at 4.19% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE