Five-flat rental goldmine in Moseley, earning £37k a year, up for grabs at auction - look inside
Discover the unique property in Moseley generating £37,000 annually, now on auction.
A large property in a trendy Birmingham suburb where five flats generate rent of more than £37,000 a year will be available to purchase in Bond Wolfe’s next auction.
The detached building is located at 80 Alcester Road in Moseley. At the auction, it is expected that it will have a guide price* of £495,000+, including fees in the livestreamed auction at 8.30am on July 10th.
James Rossiter, senior auction valuer at Bond Wolfe, said: “This property stands back from the road behind a large driveway and front garden in the ever-popular Moseley village, with its wide range of restaurants, bars and amenities.
“What was once a large house has been converted into five self-contained flats some time ago, with a current total rental income of £37,140 per annum, although there would be scope for this to increase in today’s rental market.
The property includes five flats, each with its own individual amenities.
Flat 1 on the ground floor with a kitchen/reception room, bedroom and bathroom, and this is rented for £9,000 a year.
Also on the ground floor is Flat 5 with a reception room, breakfast kitchen, bedroom and shower room with toilet, and this brings in £7,800 a year.
On the first floor is Flat 2, with a reception room, kitchen, bedroom and a shower room with toilet, rented for £5,400 a year.
Also on the first floor is Flat 3, with a reception room, bedroom, study, breakfast kitchen and shower room with toilet, bringing in £7,800 a year.
The first floor landing includes an entrance to Flat 4 on the second floor, which has a kitchen/reception room, a bedroom and bathroom, and is rented for £7,140 a year.
The flats are let on assured shorthold tenancies, and the freehold sale is subject to these existing tenancies.
The energy performance ratings for the flats are: Flat 1, E; Flat 2, C; Flat 3, D; Flat 4, E; and Flat 5, D.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.