Five flats producing £40,000 rental income in prime Birmingham suburb in auction for £325,000

A property in one of Birmingham’s prime suburbs where five self-contained flats produce rents of nearly £40,000 a year is appearing in Bond Wolfe’s next live-streamed auction.

285 Harborne Lane in Harborne, attractive for letting due to its close proximity to Queen Elizabeth Hospital and Birmingham University, will have a guide price* of £325,000+ on Thursday 11 July. James Rossiter, a senior auction valuer at Bond Wolfe, explained that the residential investment had been converted into flats in 2008.

Mr Rossiter said: “This semi-detached property, which stands back from the road behind a front garden, is located in the popular and sort-after area of Harborne. “Both Selly Oak and University train stations are within walking distance, providing easy access into Birmingham city centre and beyond. The property benefits from double glazing and gas central heating, with each flat registered for Council Tax and water rates.”

The accommodation has a communal entrance on the ground floor, leading to Flat 1 which has a hall, reception room/kitchen, bedroom and shower room with toilet. On the same floors are 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 is Flat 4 with a hall, reception room/kitchen/bedroom and bathroom with toilet, and Flat 5 with a reception room, kitchen, two bedrooms and shower room with toilet.

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, together totalling £3,320 per month or £39,840 a year. The flats share a communal garden outside and the sale will be freehold, subject to the existing tenancies.

Mr Rossiter added: “This could be a valuable opportunity for a landlord seeking to extend their portfolio in one of the city’s most sought-after areas.”

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* Each property is subject to a reserve price which may be different from the guide price.  Please refer to the Important Information and legal pack(s) for further information and any additional fees which may apply.