Flats offering £25k+ of income up for auction in Coventry

Stiff competition is expected for a Coventry property with potential income of more than £25,000 that is in Bond Wolfe Auctions’ next auction on Wednesday 17 February.

There are three self-contained flats in the lot at 34 Ribble Road near Gosford Park to the east of the city centre, set back from the road with a path through a front garden and a guide price* of £173,000.

The ground floor flat has a lounge, kitchen, bedroom, bathroom and toilet; the first floor flat has a joint lounge and kitchen, with a bedroom, shower room and toilet; and the second floor flat is bedsit-style, with a shower room and toilet.

All three flats have central heating and the majority of windows are double-glazed, and current rental income is £16,800 per year, with a potential to increase to £25,800 once all flats are occupied.

Gurpeet Bassi, chief executive of Bond Wolfe Auctions, said: “Astute landlords looking to expand their portfolios in Coventry are expected to be keen on this lot, which offers a potential yield of nearly 15% based on the guide price.”

Bidders looking for a more traditional house might be interested in a three-bedroomed, mid-terraced property at 35 Links Road in the Radford area just north of Coventry city centre.

This lot benefits from gardens, a brick-built store and a rear garage, as well as central heating and double glazing to the majority of the windows, and it comes with a guide price of £110,000+.

Those wanting a potential bargain will be tempted by a two-bedroomed, end-terraced house at 42 Vinecote Road in the Longford area, which has a guide price of £59,000 to £64,000.

This property has gardens, a rear garage, central heating and double glazing, however it is in need of refurbishment.

And over in Nuneaton, a two-bedroomed, end-terraced house at 132 Bucks Hill with gardens, a brick store, central heating and double glazing to the majority of windows come with a guide price of £70,000+.

Mr Bassi of Bond Wolfe Auctions added: “We’re pleased to be able to offer such a good range of properties in and around Coventry, with attractive prices that should be of interest to lots of bidders.”

The lots described are among a record-breaking total of 232 lots that will go under the hammer at Bond Wolfe Auctions’ auction which starts earlier than usual at 8.30am on 17 February.  The auction will be livestreamed via Bond Wolfe Auctions’ website with remote bidding by proxy, telephone or internet only, to register to bid click here.