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A property in a prime Birmingham suburb with five separate apartments generating nearly £40,000 a year in rent will feature in Bond Wolf’s next livestreamed auction.
The guide price for 285 Harborne Lane, Harborne, close to the Queen Elizabeth Hospital and the University of Birmingham, is expected to be just over £325,000 as of Thursday 11th July.
Bond Wolf senior auction valuer James Rossiter explained that the residential investment property was converted into apartments in 2008.
Flat 1 is let at £725 per calendar month, flat 2 at £625, flat 3 at £595, flat 4 at £625 and flat 5 at £750, totalling £3,320 per month and £39,840 per year.
Mr Rossiter said: “The semi-detached property is set back from the road to the rear of its forecourt and is located in the popular and highly sought-after area of Harborne.
“Both Selly Oak and University stations are within walking distance, providing easy access to Birmingham city centre and beyond.
“The properties have double glazing and gas central heating and each apartment is registered for council tax and water charges.”
The property has a shared entrance on the first floor leading to flat 1 which contains a hall, reception room/kitchen, bedroom and shower room with toilet.
On the same floor there is flat 2 with a reception room/bedroom, dining kitchen and shower room with toilet, and flat 3 with a reception room/kitchen/bedroom and shower room with toilet.
On the first floor there is flat 4 with hall, reception room/kitchen/bedroom and bathroom with WC and flat 5 with reception room, kitchen, two bedrooms and shower room with WC.
The apartments have communal gardens outside and the sale will be freehold, subject to existing leases.
“This could represent a valuable opportunity for a landlord looking to expand their portfolio in one of the city’s most popular areas,” Rossiter added.
285 Harborne Lane is just one of many lots featuring in Bond Wolfe’s upcoming auction, which begins at 8:30 a.m. on Thursday, July 11th.