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The Knares, Basildon SS16

East of England

£140,000
Listed on 15/12/2025

Property Details

Bedrooms
1
Type
Flat
Area
441 sqft

Description

This one-bedroom top-floor apartment is a promising opportunity for renovation enthusiasts and investors alike, located in the sought-after area of Lee Chapel South. The property is currently vacant and chain-free, allowing for immediate access to commence updates and improvements. While the apartment requires modernisation, this provides a blank canvas to tailor the space to individual preferences and enhance its market value. The layout includes an inviting entrance hallway, a spacious lounge/diner, a separate kitchen, a generously sized double bedroom, and a bathroom. With thoughtful refurbishment, this apartment can be transformed into a contemporary living space that meets today's standards. Nestled within a quiet residential neighborhood, residents will benefit from easy walking distance to local shops, schools—including Lee Chapel Primary—along with both Eastgate and Westgate Shopping Centres. Basildon Railway Station is also conveniently close by, providing direct transport links to central London. Additional features such as double glazing, gas central heating, secure entry system, and private external storage enhance the appeal of this property. Considering its advantageous location paired with significant renovation potential, this apartment represents an excellent investment opportunity for those looking to create their ideal home.

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)
£352
Avg Yield
4.6%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£12,000 - £20,000
Target Value
£187,321
10% above area average per sq ft
Potential ROI
+17.1%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
26
Average per month
Market Turnover
50%
Properties sold annually

Local Market Trend (SS16)

Area prices are stable by -0.6% over the last 12 months
3 year growth: -10.2%
5 year growth: +10.6%
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 4.06%

Current average variable rate is 6.81%

Monthly Repayments
£505
Based on a loan of £105,000 over 30 years at 4.06% 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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