6 Bed HMO, Birmingham, B24 8PP, £265,000

78 Oval Road, Birmingham B24 8PP - 9 views - 2 months ago

Sold STC
Auction
HMO
Planning
ROI: 14%
107 m²
+10 photos

ValuationOvervalued

Sold Prices£200K - £810K
Sold Prices/m²£816/m² - £7.2K/m²

 

 

Square Metres

107 m²
Price/m²£2.5K/m²

Value Estimate

£239,278

Investment Opportunity

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£66,250

Stamp Duty & Legal Fees

£9,900

Total Cash In

£76,150

 

 

Cash Out

 

Room Rate

£498

Gross Rent

£2,988

Running Costs/mo

£2,098

Cashflow/mo

£890

Cashflow/yr

£10,676

ROI

14%

Gross Yield

14%

Local Sold Prices

26 sold prices from £200K to £810K, average is £431K. £816/m² to £7.2K/m², average is £2.2K/m².

PriceDateDistanceAddressBeds 
£342.5K12/200.39 mi2, The Drive, Erdington, Birmingham, West Midlands B23 7NG6
£285K02/211.63 mi65, Couchman Road, Birmingham, West Midlands B8 3SP6
£415K02/211.69 mi99, Grange Road, Erdington, Birmingham, West Midlands B24 0ET6
£437K11/201.76 mi782, Chester Road, Erdington, Birmingham, West Midlands B24 0ED6
£200K09/211.78 mi111, Anthony Road, Birmingham, West Midlands B8 3BA6
£485K08/221.78 mi53, Douglas Avenue, Birmingham, West Midlands B36 8EN6
£425K11/201.83 mi26, Coleshill Road, Birmingham, West Midlands B36 8AA6
£290K05/231.96 mi19, Fordrough Avenue, Birmingham, West Midlands B9 5LF6
£622K12/221.99 mi24, Eastbourne Avenue, Birmingham, West Midlands B34 6AL6
£500K04/212.06 mi5, Westbourne Avenue, Birmingham, West Midlands B34 6AN6
£695K03/212.2 mi271, Boldmere Road, Sutton Coldfield, West Midlands B73 5LL6
£265K03/232.27 mi2, Albert Road, Stechford, Birmingham, West Midlands B33 9BD6
£560K11/202.28 mi14, Beverley Close, Sutton Coldfield, West Midlands B72 1YF6
£448.8K04/232.29 mi326, Coleshill Road, Birmingham, West Midlands B36 8BG6
£200K08/222.35 mi15, Westminster Road, Handsworth, Birmingham, West Midlands B20 3LH6
£387K12/222.46 mi124, Westminster Road, Handsworth, Birmingham, West Midlands B20 3LX6
£343K11/202.49 mi7, Morden Road, Stechford, Birmingham, West Midlands B33 8SP6
£330K12/202.49 mi30, Flamborough Close, Birmingham, West Midlands B34 6LX6
£258K11/232.57 mi39, Francis Road, Stechford, Birmingham, West Midlands B33 8SL6
£283K11/212.58 mi164, Albert Road, Stechford, Birmingham, West Midlands B33 8UE6
£490K12/202.61 mi1, Woodleigh Road, Sutton Coldfield, West Midlands B72 1ER6
£690K01/232.75 mi50, Penns Lake Road, Sutton Coldfield, West Midlands B76 1LR6
£445K11/202.82 mi323, Station Road, Stechford, Birmingham, West Midlands B33 8RS6
£475K03/232.87 mi18, Wye Cliff Road, Birmingham, West Midlands B20 3TB6
£545K06/212.87 mi70, Melrose Avenue, Sutton Coldfield, West Midlands B73 6NS6
£810K05/232.94 mi108, Jockey Road, Sutton Coldfield, West Midlands B73 5PP6

Local Area Statistics

Population in B24

28,259

Population in Birmingham

1,034,821

Town centre distance

3.42 miles away

Nearest school

0.40 miles away

Nearest train station

0.33 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+25%

Sales demand

Balanced market

Capital growth (5yrs)

+36%

Property History

Listed for £265,000

February 25, 2025

Floor Plans

Description

  • Auction: 27.03.2025 09:00 +
  • Council Tax Band: B +
  • Article 4 Planning Approved +
  • Close To All Amenities +
  • Driveway +
  • Large 6 Double Bedroom Home +
  • EPC Rating: D +

For sale on 27 March 2025
Our national property auction will be broadcast online with live auctioneers. To bid by proxy, online, or by phone, please submit your registration form no later than 5pm the day before the auction.
The auction will commence at 09:00. A six double bedroom semi-detached home with Article 4 Planning Approved, offered with vacant possession upon completion.

The accommodation comprises:

Level 1 fitted kitchen with access to garden.

The kitchen leads to a hallway comprising of a large raised area under the stairs which lends it self perfectly for additional storage, a walk in cloak room/ storage room and a reception room situated for use as a dining room, study, play room, office, meeting room or even as a 7th bedroom.

Stairs leading to;

Level 2 (Ground floor) This floor consists of a hallway with entry to Bedroom 1 comprising of a double bedroom with en suite shower room and views to the rear of the property, A separate toilet with wash basin, Bedroom 2, also a double with its own en suite shower room, a sizeable reception/living room with a large bay window to the front of the property and the main entrance via the porch with original Victorian features.

Stairs leading to;

Level 3 This floor comprises of a double Bedroom (3) with en suite and views to the rear of the property, a family bathroom having a large bath with over shower, toilet and wash basin, a double Bedroom (4) with side and rear views, an overly large Bedroom (5) with en suite shower , toilet and wash basin.

Stairs leading to;

Level 4 The overly large Bedroom 6 is accessed via a original gallery landing. It also benefits from a full en suite with shower, toilet and wash basin with side elevation views.

The property is gas centrally heated by means of a Worcester Bosh combi boiler (not tested) and security locked double glazing throughout.

The property is ideally suited for sharers or an investment/business opportunity and lends itself to a House of Multiple Occupation (HMO) having article 4 planning permission already in place as Birmingham City Council are no longer allowing HMOs without planning permission in place. The property has previously been a HMO and OFSTED approved for supported living making this a highly desirable property.

Interested parties are advised to inspect the legal pack prior to bidding. Flood Risk Rivers and Seas No Risk. Surface Water Low.
Mobile Phone Coverage O2, EE, Three and Vodafone are available.
Satellite and Cable TV Availability BT and Sky are available.
Broadband (estimated speeds) Standard 11 mbps. Tenure: Freehold EPC Rating: D Terms:
Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT). 

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve Price:

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Agent Details

SDL Property Auctions, Nationwide

08000 465454

Next Steps?

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