Coventry house on the market that could net rental income of £25k a year

A house in Coventry is going under the hammer which has a potential rental income of more than £25,000.

Interest in the property, which is divided into three flats, is expected to be keen – with a guide price of £173,000.

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.

The property is just one of the Coventry and Warwickshire lots in Bond Wolfe Auctions’ next auction on Wednesday February 17.

The ground floor flat in the Ribble Road property 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.

The current rental income from the property 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-bedroom, mid-terraced property at 35 Links Road in Radford 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-bedroom, end-terraced house at 42 Vinecote Road in Longford, 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.

In Nuneaton, a two-bedroom, 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 said: “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 February 17.

The auction will be livestreamed via Bond Wolfe Auctions’ website with remote bidding by proxy, telephone or internet only.

More details are available via the Bond Wolfe Auctions website or by emailing [email protected]

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