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The Knares, Basildon, SS16

East of England

£140,000
Listed on 26/10/2025

Property Details

Bedrooms
1
Type
Flat
Area
441 sqft

Description

This top-floor one-bedroom apartment presents a compelling opportunity for those looking to invest or embark on a renovation journey in the desirable Lee Chapel South area. The property, which is currently vacant and chain-free, offers ample space that is ripe for modernization, allowing potential buyers to tailor their living environment to their individual tastes. Situated within a tranquil residential neighborhood, this apartment benefits from its proximity to various local amenities. Residents will find that essential services, shopping options at Eastgate and Westgate Shopping Centres, and Basildon Railway Station are all within easy walking distance. The station provides direct train access to London Fenchurch Street, making it an appealing option for commuters. The internal layout includes a welcoming entrance hallway that leads into a spacious lounge/diner, separate kitchen, and a good-sized double bedroom. The bathroom completes the accommodation. With some thoughtful updates and enhancements, this property can evolve into a stylish residence that maximizes its potential. Additional features include a lengthy lease of approximately 104 years, gas central heating, double glazing for energy efficiency, and a secure entry phone system. A private external storage cupboard also adds practical value. Given its location and the scope for improvement, this property stands out as an excellent investment prospect for first-time buyers or seasoned investors alike. Viewings are encouraged to fully appreciate the potential this apartment has to offer in the sought-after Lee Chapel South community.

Investment Analysis

(SS16 area)

Below Market Value

This property is priced -17.8% below area average per sq ft

-17.8%
Potential saving
This Property
£317/sq ft
Area Average
£386/sq ft
Avg Rent (weekly)
£349
Avg Yield
5.1%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Target Value
£187,346
10% above area average per sq ft
Potential ROI
+13.5%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
27
Average per month
Market Turnover
25%
Properties sold annually

Local Market Trend (SS16)

Area prices are rising by +2.1% over the last 12 months
3 year growth: -9.4%
5 year growth: 11.7%
Investment Disclaimer: Analysis based on SS16 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

The Knares, Basildon, SS16
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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
£513
Based on a loan of £105,000 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