3 Bed Flat, Planning Permission, Birmingham, B15 2DS, £300,000

Lexington Gardens, Birmingham, B15 2DS - 8 views - 3 months ago

Leasehold

Planning

ROI: 6%

~93 m²

+11 photos

ValuationOvervalued

Sold Prices	£90K - £525K
Sold Prices/m²	£1.1K/m² - £4.7K/m²

Square Metres	~93 m²
Price/m²	£3.2K/m²
Value Estimate	£219,583£219,583

End Value (After Refurb)	£309,658£309,658
Uplift in Value	+3%+3%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£75,000£75,000
Stamp Duty & Legal Fees	£12,700£12,700
Refurb Costs	£36,800£36,800
Bridging Loan Interest	£7,875£7,875
Total Cash In	£134,125£134,125

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£309,658£309,658
Mortgage (After Refinance)	£232,243£232,243
Mortgage LTV	75%75%
Cash Released	£7,243£7,243
Cash Left In	£126,882£126,882
Equity	£77,414£77,414
Rent Range	£150 - £12,000£150 - £12,000
Rent Estimate	£2,104
Running Costs/mo	£1,408£1,408
Cashflow/mo	£696£696
Cashflow/yr	£8,346£8,346
ROI	6%6%
Gross Yield	8%8%

Local Sold Prices

33 sold prices from £90K to £525K, average is £140K. £1.1K/m² to £4.7K/m², average is £2.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£173K	12/22	0.23 mi	19, Hodnet Grove, Birmingham, West Midlands B5 7DG	-	-	3	Flat
£108K	11/20	0.51 mi	Flat 9, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB	-	-	3	Flat
£102K	03/23	0.54 mi	Flat 19, Hampton Court, George Road, Edgbaston, Birmingham, West Midlands B15 1PU	-	-	3	Flat
£250K	12/22	0.57 mi	61, Viceroy Close, Birmingham, West Midlands B5 7UT	£2,778	90	3	Flat
£245K	09/22	0.57 mi	75, Viceroy Close, Birmingham, West Midlands B5 7UU	£2,450	100	3	Flat
£360K	01/23	0.59 mi	14, Viceroy Close, Birmingham, West Midlands B5 7UR	£3,243	111	3	Flat
£235K	05/21	0.59 mi	4, Estria Road, Birmingham, West Midlands B15 2LQ	£2,829	83	3	Flat
£205K	02/23	0.61 mi	25, Roseland Way, Birmingham, West Midlands B15 1HD	£2,440	84	3	Flat
£100K	06/21	0.73 mi	41, Canford Close, Birmingham, West Midlands B12 0YU	£1,266	79	3	Flat
£137.5K	05/21	0.73 mi	67, Canford Close, Birmingham, West Midlands B12 0YU	£1,809	76	3	Flat
£240K	03/23	0.83 mi	36, Wyatt Close, Birmingham, West Midlands B5 7QR	-	-	3	Flat
£134K	12/20	0.91 mi	100, Vincent Street, Birmingham, West Midlands B12 9TX	£1,675	80	3	Flat
£315K	11/22	0.92 mi	7, Westbourne Gardens, Birmingham, West Midlands B15 3TJ	£4,736	67	3	Flat
£190K	10/22	0.98 mi	50, Arden Grove, Ladywood, Birmingham, West Midlands B16 8HQ	-	-	3	Flat
£425K	04/21	1.29 mi	Apartment 417, Amazon Lofts, Tenby Street, Birmingham, West Midlands B1 3AJ	-	-	3	Flat
£225K	03/21	1.5 mi	Flat 41, Pitmaston Court West, Goodby Road, Birmingham, West Midlands B13 8RJ	£3,358	67	3	Flat
£248K	03/21	1.52 mi	85b, Moorcroft Road, Birmingham, West Midlands B13 8LS	£2,141	116	3	Flat
£262.5K	04/23	1.52 mi	85d, Moorcroft Road, Birmingham, West Midlands B13 8LS	£2,413	109	3	Flat
£99K	11/20	1.57 mi	72, Aldgate Grove, Birmingham, West Midlands B19 3XE	-	-	3	Flat
£128K	03/22	1.57 mi	140, Great Hampton Row, Birmingham, West Midlands B19 3JL	-	-	3	Flat
£100K	12/22	1.69 mi	107, Great Hampton Row, Birmingham, West Midlands B19 3AY	£1,124	89	3	Flat
£125K	04/22	1.73 mi	3, Attenborough Close, Birmingham, West Midlands B19 2QA	£1,488	84	3	Flat
£90K	01/22	1.73 mi	6, Westthorpe Grove, Birmingham, West Midlands B19 3DA	£1,098	82	3	Flat
£130K	12/22	1.74 mi	17, Westthorpe Grove, Birmingham, West Midlands B19 3DA	£1,831	71	3	Flat
£115K	03/22	1.74 mi	47, Westthorpe Grove, Birmingham, West Midlands B19 3DA	£1,438	80	3	Flat
£125K	05/21	1.83 mi	30, Wardlow Road, Birmingham, West Midlands B7 4JH	-	-	3	Flat
£125K	05/21	1.83 mi	30, Wardlow Road, Birmingham, West Midlands B7 4JH	-	-	3	Flat
£170K	01/21	1.85 mi	18, Seymour Close, Selly Park, Birmingham, West Midlands B29 7JD	£2,361	72	3	Flat
£170K	01/21	1.85 mi	18, Seymour Close, Selly Park, Birmingham, West Midlands B29 7JD	£2,361	72	3	Flat
£525K	06/21	1.93 mi	3, Moorland Road, Birmingham, West Midlands B16 9JP	£3,459	152	3	Flat
£132K	11/21	1.99 mi	1, Farm Croft, Birmingham, West Midlands B19 2UG	£1,553	85	3	Flat
£132K	11/21	1.99 mi	1, Farm Croft, Birmingham, West Midlands B19 2UG	£1,553	85	3	Flat
£140K	03/21	1.99 mi	Flat 6, St. Dennis House, Melville Road, Birmingham, West Midlands B16 9NE	-	-	3	Flat

Local Rents

50 rents from £150/mo to £12K/mo, average is £1.9K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,650	12/24	0.02 mi	Lincoln Apartments, Lexington Gardens, Park Central, B15	3	Flat
£1,700	12/24	0.02 mi	Lincoln Apartments, Lexington Gardens, Park Central, B15	3	Flat
£1,350	12/24	0.06 mi	Rickman Drive, Edgbaston	3	Flat
£1,450	12/24	0.12 mi	Windrush Grove, Edgbaston, Birmingham	3	Terraced House
£3,000	01/25	0.12 mi	-	3	Terraced House
£3,400	04/25	0.12 mi	-	3	Terraced House
£1,950	12/24	0.13 mi	£150 PPPW Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,950	12/24	0.13 mi	Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,950	12/24	0.13 mi	£150 PPPW Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,950	12/24	0.13 mi	£150 PPPW Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,950	12/24	0.13 mi	£150 PPPW Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,950	12/24	0.13 mi	£150 PPPW Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,950	12/24	0.13 mi	£150 PPPW Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,950	12/24	0.13 mi	£150 PPPW Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£1,700	12/24	0.15 mi	Mosedale Way, Park Central, Birmingham	3	Flat
£1,600	12/24	0.15 mi	Rickman Drive , Birmingham	3	Flat
£1,650	03/24	0.15 mi	-	3	Flat
£1,495	12/24	0.15 mi	-	3	Flat
£1,295	04/25	0.15 mi	-	3	Flat
£1,295	04/25	0.15 mi	-	3	Flat
£1,395	12/24	0.15 mi	Spring Road, Birmingham, B15	3	Flat
£1,475	12/24	0.17 mi	Hope Street, BIRMINGHAM	3	Flat
£1,500	02/25	0.17 mi	-	3	Flat
£2,100	12/24	0.17 mi	Mowbray Street, BIRMINGHAM	3	Flat
£1,695	12/24	0.22 mi	Sherlock Street, Birmingham, B5 7DU	3	Terraced House
£1,300	12/24	0.23 mi	-	3	Flat
£2,000	02/24	0.26 mi	-	3	Flat
£2,000	03/24	0.26 mi	-	3	Terraced House
£1,495	04/25	0.27 mi	-	3	Semi-Detached House
£3,000	12/24	0.28 mi	-	3	Semi-Detached House
£2,500	02/25	0.28 mi	-	3	Semi-Detached House
£1,600	12/24	0.32 mi	Charlotte Road, Edgbaston, B15 2NH	3	Detached House
£150	12/24	0.33 mi	Charlotte Road, Birmingham, B15	3	Terraced House
£150	12/24	0.33 mi	-	3	Terraced House
£2,000	02/24	0.33 mi	-	3	House
£2,000	12/24	0.33 mi	-	3	Flat
£1,600	12/24	0.34 mi	Varden Croft, Birmingham, B5	3	Terraced House
£1,750	02/24	0.34 mi	-	3	Terraced House
£1,500	05/24	0.34 mi	-	3	Terraced House
£1,650	12/24	0.36 mi	Varden Croft, Edgbaston, Birmingham	3	Terraced House
£1,950	12/24	0.36 mi	Belgrave Middleway, Birmingham, B12 9AP	3	Terraced House
£2,500	12/24	0.41 mi	Lower Essex Street, Birmingham	3	Flat
£2,000	04/25	0.43 mi	-	3	Flat
£3,500	03/24	0.45 mi	-	3	Flat
£1,900	12/24	0.46 mi	East Timber Yard, 118 Pershore Street, Birmingham, B5	3	Flat
£1,900	12/24	0.46 mi	East Timber Yard, 118 Pershore Street, Birmingham, B5	3	Flat
£1,900	12/24	0.46 mi	East Timber Yard, 118 Pershore Street, Birmingham, B5	3	Flat
£1,800	12/24	0.46 mi	East Timber Yard, 118 Pershore Street, Birmingham, B5	3	Flat
£1,900	12/24	0.47 mi	East Timber Yard, Pershore Street, B5	3	Flat
£12,000	12/24	0.49 mi	Commercial Street, City Centre, Birmingham, B1	3	Flat

Local Area Statistics

Population in B15	17,55217,552
Population in Birmingham	1,034,8211,034,821
Town centre distance	0.96 miles away0.96 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.48 miles away0.48 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+71%+71%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	+27%+27%

Property History

Listed for £300,000

January 7, 2025

Floor Plans

Description

NO UPWARD CHAIN +
WALKING DISTANCE TO BIRMINGHAM CITY CENTRE +
ALLOCATED PARKING +
MODERN THROUGHOUT +
CALL OAKMANS TODAY +

NO UPWARD CHAIN THREE BEDROOMS DESIRABLE LOCATION ALLOCATED PARKING **

Oakmans are delighted to offer an exceptionally well presented, three bedrooms apartment situated within the highly popular development of Lexington gardens. This property boasts no upward chain and benefits from having three bedrooms, being within walking distance to Birmingham city centre and having modern appliances throughout.

Property comprises entrance hall, open plan lounge kitchen, three double bedrooms, family bathroom and en-suite.

Property type: Apartment
Tenure: Leasehold
Years left on lease: 243 years
Service charge: £4,872
Ground rent: £0
Estates charge:£988.38
Council Tax Band: D
EPC Rating: D
Estate contribution charge: £0 Per annum
Construction Type: Standard construction
Parking Arrangements: Allocated parking
Broadband: Fibre (FTTP)
Mobile Signal Coverage: No known issues
Water Supply: Mains
Sewerage: Mains
Electric: Mains
Heating Supply: Electric
Building Safety Issues: No
Special Conditions: None
Flood Risk or Previous Flooding: No
Mine Shafts/Coal Fields/Erosion: No
Restrictions: No
Rights and Easements: No
Planning Permissions: Planning signed off for side extension
Local Developments: No
Accessibility Adaptations: No

Call Oakmans today!

Agent Details

Oakmans Estate Agents, Harborne

0121 387 6780

Next Steps?

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