2 Bed Flat, Refurb/BRRR, Birmingham, B15 2AS, £156,000

Avon House, Great Colmore Street, Birmingham, B15 2AS - 6 views - 6 months ago

Leasehold
Refurb/BRRR
ROI: 4%
~68 m²
+10 photos

ValuationOvervalued

Sold Prices£55K - £500K
Sold Prices/m²£724/m² - £4.5K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£139,119

 

 

End Value (After Refurb)

£252,142

Uplift in Value

+62%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£39,000

Stamp Duty & Legal Fees

£5,880

Refurb Costs

£26,951

Bridging Loan Interest

£4,095

Total Cash In

£77,676

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£252,142

Agent Fees (1%)

£2,521

Bridging Loan

£117,000

Bridging Loan Interest

£4,095

Flip Profit

£54,944

Local Sold Prices

26 sold prices from £55K to £500K, average is £147.3K. £724/m² to £4.5K/m², average is £2K/m².

PriceDateDistanceAddressBeds 
£150K02/230.36 miApartment 290, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£181K02/210.36 miApartment 257, Southside, St Johns Walk, Birmingham, West Midlands B5 4TL2
£160K11/220.36 miApartment 444, Southside, St Johns Walk, Birmingham, West Midlands B5 4TP2
£290K09/210.37 mi123 Royal Arch Apartments, The Mailbox, Wharfside Street, Birmingham, West Midlands B1 1RG2
£500K02/210.4 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£500K02/210.4 mi28, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LF2
£172K12/200.4 miFlat 17, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£176K10/220.4 miFlat 15, Edencroft, Wheeleys Road, Edgbaston, Birmingham, West Midlands B15 2LW2
£235K07/210.42 miApartment 34, Friday Bridge, Berkley Street, Birmingham, West Midlands B1 2LB2
£144.5K09/210.47 mi35, Pakenham Road, Birmingham, West Midlands B15 2NE2
£130K06/210.62 mi55, Alexandra Road, Birmingham, West Midlands B5 7NJ2
£55K03/210.66 mi28, Horton Square, Birmingham, West Midlands B12 0YR2
£55K03/210.66 mi28, Horton Square, Birmingham, West Midlands B12 0YR2
£235K12/220.66 mi110, Viceroy Close, Birmingham, West Midlands B5 7UY2
£65K02/230.67 miFlat 77, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£120K11/200.67 miFlat 74, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB2
£182K12/220.71 mi14, Civic Close, Birmingham, West Midlands B1 2NT2
£100K07/210.72 miFlat 2, Norton Tower, Civic Close, Birmingham, West Midlands B1 2NN2
£90K06/210.73 miFlat 10, Crescent Tower, Brindley Drive, Birmingham, West Midlands B1 2NJ2
£144K05/210.8 mi6, Dalloway Close, Birmingham, West Midlands B5 7RD2
£120.2K06/220.82 mi25, Royston Croft, Birmingham, West Midlands B12 9DX2
£180K08/210.83 mi9, Bellcroft, Birmingham, West Midlands B16 8EJ2
£153.5K06/210.88 mi17, Ashton Croft, Birmingham, West Midlands B16 8EX2
£99K08/220.92 mi54, Foster Way, Birmingham, West Midlands B5 7QJ2
£125K12/210.95 mi156, Kilby Avenue, Birmingham, West Midlands B16 8EW2
£103K11/200.95 mi130, Kilby Avenue, Birmingham, West Midlands B16 8EW2

Local Rents

50 rents from £975/mo to £3.6K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,40012/240.07 mi-2
£1,50001/250.07 mi-2
£2,55003/240.07 mi-2
£1,40012/240.07 mi61 Mason Way, Birmingham City Centre2
£2,00003/250.07 mi-2
£2,60004/250.07 mi-2
£1,02512/240.09 miPark Central2
£1,02512/240.09 miCregoe Street, Birmingham2
£1,25012/240.09 miCregoe Street, Park Central, Birmingham, Birmingham2
£1,02512/240.09 miPark Central2
£2,89502/240.09 mi-2
£1,40002/250.1 mi-2
£3,57504/250.1 mi-2
£1,30004/250.1 mi-2
£1,26012/240.1 miBell Barn Road, BIRMINGHAM2
£1,40012/240.1 miLatimer House, 4 Saint Catherines Close, Birmingham, B15 2FE2
£1,35003/240.1 mi-2
£1,30012/240.1 mi-2
£1,30012/240.1 miSt. Catherines Close, Birmingham, B152
£1,50012/240.11 miLatimer House, Birmingham, B152
£1,35012/240.11 mi4 St Catherines Close, BIRMINGHAM2
£1,40012/240.11 miLatimer House, Birmingham, B152
£99512/240.11 miGreat Colmore Street, Birmingham2
£97512/240.11 miGreat Colmore Street, BIRMINGHAM2
£99512/240.11 miGreat Colmore Street2
£99512/240.11 miGreat Colmore Street2
£99512/240.11 miGreat Colmore Street2
£1,40012/240.11 miLatimer House, Birmingham, B15 2
£1,40012/240.11 miLatimer House, St Catherines Close, Birmingham, B15 2
£1,25012/240.11 miPark Central2
£1,15012/240.12 miRickman Drive2
£1,15012/240.12 miRickman Drive, Birmingham2
£1,20012/240.12 miRickman Drive, Birmingham, B152
£1,50003/240.12 mi-2
£1,40001/250.12 mi-2
£1,50012/240.12 miBirmingham, Birmingham, B152
£1,27504/250.12 mi-2
£1,25004/250.12 mi-2
£2,20002/240.12 mi-2
£1,10002/240.12 mi-2
£1,20012/240.12 miApartment 15 Rickman Drive, Birmingham2
£1,22512/240.12 miBell Barn Road2
£1,32512/240.13 mi-2
£1,10001/250.13 mi-2
£1,35012/240.13 mi-2
£1,15012/240.13 miBell Barn Road, Birmingham, B152
£1,15012/240.13 miBell Barn Road, Edgbaston, Birmingham, B152
£1,20012/240.14 miRickman Drive, Birmingham2
£1,25012/240.15 mi-2
£1,05012/240.15 miMasons Way, Birmingham, B152

Local Area Statistics

Population in B15

17,552

Population in Birmingham

1,034,821

Town centre distance

1.11 miles away

Nearest school

0.10 miles away

Nearest train station

0.37 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+71%

Sales demand

Buyer's market

Capital growth (5yrs)

+27%

Property History

Price changed to £156,000

January 27, 2025

Listed for £160,000

October 30, 2024

Floor Plans

Description

  • Offered with No Chain or to Investors Looking for an Immediate Rental Income +
  • Entrance Hallway +
  • Ground Floor Apartment +
  • Entrance Hallway with Storage Cupboard off +
  • Lounge/Dining Room with Access to an Enclosed Verandah +
  • Kitchen Housing the Central Heating Boiler +
  • Two Double Bedrooms with main having inbuilt wardobes +
  • Shower Room and Separate w.c. +
  • Communal Car Parking and Communal Gardens +
  • Prime City Centre Location +

Welcome to Avon House, Great Colmore Street, Birmingham!

This spacious two-bedroom ground floor apartment features an entrance hallway, a through lounge/dining area, and a kitchen housing the central boiler. Both double bedrooms are generously sized, with the main bedroom offering a built-in wardrobe. The property also includes a shower room, separate W.C., and benefits from mostly double-glazed windows and gas central heating. Outside, you'll find a communal car park at the front and a well-maintained rear garden with a lawn.

Although in need of some modern updates, this property is a fantastic opportunity for first-time buyers or investors, thanks to its prime City Centre location. Situated within a mile of key amenities such as Birmingham New Street, Moor Street, and Snow Hill stations, the iconic Bullring, Five Ways Shopping Centre, and a variety of restaurants, bars, and schools.

Contact Just Move Estate Agents today to arrange a viewing!

Council Tax Band: A (Birmingham City Council)
Tenure: Leasehold (90 years)
Ground Rent: £10 per year (reviewed every 1 years)
Service Charge: £1,347.72 per year (reviewed every 1 years)

Agent Details

Just Move Estate Agents & Lettings, Great Barr

0121 387 6486

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪