3 Bed Flat, Refurb/BRRR, Birmingham, B16 9NJ, £185,000

Melville Hall, Holly Road, Edgbaston, Birmingham, B16 9NJ - 72 views - 2 years ago

Leasehold
Refurb/BRRR
ROI: 1%
~120 m²
+5 photos

ValuationUndervalued

Sold Prices£35K - £525K
Sold Prices/m²£494/m² - £4.7K/m²

 

 

Square Metres

~119.70 m²
Price/m²£1.5K/m²

Value Estimate

£190,550
BMV3%

 

 

End Value (After Refurb)

£348,882

Uplift in Value

+89%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£46,250

Stamp Duty & Legal Fees

£6,750

Refurb Costs

£47,365

Bridging Loan Interest

£4,856

Total Cash In

£106,971

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£348,882

Agent Fees (1%)

£3,489

Bridging Loan

£138,750

Bridging Loan Interest

£4,856

Flip Profit

£99,671

Local Sold Prices

47 sold prices from £35K to £525K, average is £137.5K. £494/m² to £4.7K/m², average is £1.8K/m².

PriceDateDistanceAddressBeds 
£140K03/210.13 miFlat 6, St. Dennis House, Melville Road, Birmingham, West Midlands B16 9NE3
£525K06/210.17 mi3, Moorland Road, Birmingham, West Midlands B16 9JP3
£190K10/221.18 mi50, Arden Grove, Ladywood, Birmingham, West Midlands B16 8HQ3
£315K11/221.24 mi7, Westbourne Gardens, Birmingham, West Midlands B15 3TJ3
£205K02/231.53 mi25, Roseland Way, Birmingham, West Midlands B15 1HD3
£102K03/231.57 miFlat 19, Hampton Court, George Road, Edgbaston, Birmingham, West Midlands B15 1PU3
£235K05/211.59 mi4, Estria Road, Birmingham, West Midlands B15 2LQ3
£425K04/211.72 miApartment 417, Amazon Lofts, Tenby Street, Birmingham, West Midlands B1 3AJ3
£152K07/231.8 mi108b, Blandford Road, Birmingham, West Midlands B32 2LP3
£360K01/231.99 mi14, Viceroy Close, Birmingham, West Midlands B5 7UR3
£250K12/222.05 mi61, Viceroy Close, Birmingham, West Midlands B5 7UT3
£245K09/222.08 mi75, Viceroy Close, Birmingham, West Midlands B5 7UU3
£118K02/232.1 mi27, Rennie Grove, Quinton, Birmingham, West Midlands B32 2SE3
£143K08/232.1 mi21, Rennie Grove, Quinton, Birmingham, West Midlands B32 2SE3
£240K03/232.17 mi36, Wyatt Close, Birmingham, West Midlands B5 7QR3
£128K03/222.2 mi140, Great Hampton Row, Birmingham, West Midlands B19 3JL3
£108K11/202.2 miFlat 9, Elmwood Court, Pershore Road, Birmingham, West Midlands B5 7PB3
£90K01/222.21 mi6, Westthorpe Grove, Birmingham, West Midlands B19 3DA3
£50K04/222.23 miFlat 12, Lizafield Court, Holly Lane, Smethwick, West Midlands B66 1QL3
£50K08/222.23 miFlat 10, Lizafield Court, Holly Lane, Smethwick, West Midlands B66 1QL3
£35K04/222.23 miFlat 6, Lizafield Court, Holly Lane, Smethwick, West Midlands B66 1QL3
£130K12/222.23 mi17, Westthorpe Grove, Birmingham, West Midlands B19 3DA3
£115K03/222.23 mi47, Westthorpe Grove, Birmingham, West Midlands B19 3DA3
£40K02/222.25 mi29, Hubert Croft, Selly Oak, Birmingham, West Midlands B29 6DU3
£100K12/222.29 mi107, Great Hampton Row, Birmingham, West Midlands B19 3AY3
£132K11/212.29 mi1, Farm Croft, Birmingham, West Midlands B19 2UG3
£132K11/212.29 mi1, Farm Croft, Birmingham, West Midlands B19 2UG3
£173K12/222.3 mi19, Hodnet Grove, Birmingham, West Midlands B5 7DG3
£99K11/202.32 mi72, Aldgate Grove, Birmingham, West Midlands B19 3XE3
£100K09/212.36 miFlat 5, Henderson Court, Queensway, Oldbury, West Midlands B68 0JR3
£112K11/222.36 miFlat 5, Henderson Court, Queensway, Oldbury, West Midlands B68 0JR3
£170K01/212.42 mi18, Seymour Close, Selly Park, Birmingham, West Midlands B29 7JD3
£170K01/212.42 mi18, Seymour Close, Selly Park, Birmingham, West Midlands B29 7JD3
£115K01/212.51 mi20, Highfield Lane, Birmingham, West Midlands B32 1QT3
£125K11/202.51 mi46, Highfield Lane, Quinton, Birmingham, West Midlands B32 1QT3
£152K01/222.51 mi50, Highfield Lane, Quinton, Birmingham, West Midlands B32 1QT3
£200K10/222.51 mi13a, Wye Cliff Road, Birmingham, West Midlands B20 3TA3
£125K04/222.57 mi3, Attenborough Close, Birmingham, West Midlands B19 2QA3
£185K11/222.58 mi29, Gorsly Piece, Quinton, Birmingham, West Midlands B32 1SE3
£225K03/212.71 miFlat 41, Pitmaston Court West, Goodby Road, Birmingham, West Midlands B13 8RJ3
£100K06/212.83 mi41, Canford Close, Birmingham, West Midlands B12 0YU3
£137.5K05/212.83 mi67, Canford Close, Birmingham, West Midlands B12 0YU3
£134K12/202.9 mi100, Vincent Street, Birmingham, West Midlands B12 9TX3
£248K03/212.91 mi85b, Moorcroft Road, Birmingham, West Midlands B13 8LS3
£262.5K04/232.91 mi85d, Moorcroft Road, Birmingham, West Midlands B13 8LS3
£115K02/212.94 miFlat 12a, Endwood Court, Handsworth Wood Road, Handsworth, Birmingham, West Midlands B20 2RZ3
£250K03/212.99 mi1, St Benedicts Close, West Bromwich, West Midlands B70 6TD3

Local Rents

30 rents from £975/mo to £2K/mo, average is £1.4K/mo.

RentDateDistanceAddressBeds 
£1,40012/240.1 miManor Road North, Edgbaston, B163
£1,49912/240.11 miMelville Hall, Holly Road, Birmingham, B163
£1,60004/250.11 mi-3
£1,15002/250.16 mi-3
£1,15003/250.2 mi-3
£1,15004/250.2 mi-3
£97511/240.21 mi-3
£1,42512/240.31 miDeer Park Road, BIRMINGHAM3
£1,50012/240.31 miDeer Park Road, Edgbaston, Birmingham3
£1,50012/240.31 miDeer Park Road, Edgbaston, Birmingham, B163
£1,00003/250.34 mi-3
£1,00004/250.34 mi-3
£1,55012/240.37 miAugustus Road, Edgbaston, B153
£1,59502/250.46 mi-3
£1,35012/240.52 miAvery Avenue, Edgbaston, Birmingham, B163
£1,65012/240.53 miGilchrist Drive, Edgbaston, Birmingham, B153
£1,39512/240.53 miChristchurch Close, Edgbaston, B153
£99512/240.53 miSandon Road, Edgbaston, Birmingham, B17 8DT3
£1,10012/240.55 mi-3
£1,35012/240.57 miMariner Avenue, BIRMINGHAM3
£1,99502/240.58 mi-3
£1,99512/240.58 miChristchurch Close, Birmingham, B153
£1,99512/240.59 miChristchurch Close, Edgbaston, Birmingham3
£1,50012/240.59 miChristchurch Close, Edgbaston, Birmingham3
£1,55012/240.59 miChristchurch Close, Edgbaston3
£1,39512/240.59 miChristchurch Close, Edgbaston3
£1,15012/240.59 miPortland Road, BIRMINGHAM3
£1,15012/240.59 miPortland Road, Edgbaston3
£99002/240.59 mi-3
£1,05012/240.6 miWestbury Road, Edgbaston, B17 8JH3

Local Area Statistics

Population in B16

23,618

Population in Birmingham

1,034,821

Town centre distance

3.05 miles away

Nearest school

0.30 miles away

Nearest train station

1.62 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

-17%

Sales demand

Buyer's market

Capital growth (5yrs)

+27%

Property History

Listed for £185,000

September 18, 2023

Floor Plans

Description

  • Characterful Ground Floor Mansion Style Apartment +
  • Three Double Bedrooms +
  • Quiet and Popular Edgbaston Location +
  • Fantastic Investment Opportunity +
  • Service Charge Includes Heating and Hot Water +
  • Excellent Access to Harborne and Bearwood High Street's +
  • No Upward Chain +
  • EPC Rating - C +

An extremely spacious ground floor mansion style apartment situated in this convenient location in Edgbaston. This characterful three bedroom apartment is in need of modernisation but provides immaculately presented accommodation throughout whilst retaining a fantastic array of period features. Being sold with No Upward Chain.

The property is set within beautifully maintained communal grounds which includes residents parking available upon request, the property is leasehold and completely double glazed with the management charge also including the cost for central heating and hot water and also including a share of the freehold.

The property is approached via a secure communal entrance and reception area and the apartment is located on the ground floor. As you enter the property a grand hallway stretches the length of the property providing access into all of the accommodation. This comprises separate reception rooms that have double doors that enable this to become a through-reception room, but very suitable as a separate lounge and dining room currently. A kitchen provides a pantry area and rear fire exit, there are three very good sized bedrooms, with a partly tiled bathroom suite and additional WC. The property is surrounded by well maintained communal grounds.

The property is located in this quiet and leafy neighborhood which is in very close proximity to the Hagley Road, providing frequent and convenient access into Birmingham City Centre. The property is also ideally located for QE Medical Complex, Harborne and Bearwood High Street which provide a range of independent stores and well-known supermarkets, along with highly regarded eateries and gastro-pubs.

Property Accommodation -

Entrance Hallway -

Lounge - 5.13m x 3.91m (16'10" x 12'10" ) -

Dining Room - 3.73m max x 3.91m (12'3" max x 12'10" ) -

Kitchen - 3.25m x 3.35m (10'8" x 11'0" ) -

Bedroom One - 5.64m max x 3.63m max (18'6" max x 11'11" max) -

Bedroom Two - 3.00m x 4.22m (9'10" x 13'10") -

Bedroom Three - 3.25m x 2.34m (10'8" x 7'8") -

Bathroom -

Additional Wc -

Leasehold Information - We understand that the property is a leasehold with approximately 99 years remaining on the lease, with an annual service charge payable of approximately £1,432.74 per quarter which includes the cost of hot water and heating and also includes a share of the freehold. (Please ensure your solicitor verifies the lease and service charge information prior to purchase).

Agent Details

Hunters, Harborne

0121 387 6551

Next Steps?

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