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5 bedroom terraced house for sale
78 Warwick Road, Carlisle, CA1 1DU
£140,000
78 Warwick Road, Carlisle, CA1 1DU
£140,000
Our Summary
- Planning has been approved for conversion for another 2 bed and studio apartment
- Property requires renovation
- Middle Floor Flat: Ready for conversion renovation for 2 Large Double Bedrooms, Bathroom, Kitchen, Living area
- Top Floor Flat: Ready for conversion into studio flat Once fully renovated, the property could command a collective rental income of £21,000 - £23,000 p/a
- Potential for each apartment to be sold as separate units once renovated
- Apartment 2, 3 Portland Square, Carlisle, CA1 1AG Previously sold for £190,000*** Property requires full renovation
- This lot is open to immediate offers and offered at a fantastic price to ensure an Auction sale
- The property will feature in our upcoming timed online auction
- To participate in the live auction, you must have a bidding account created
- Additionally, Carlisle's affordable property market and ongoing regeneration projects enhance its investment potential, making it an attractive choice for both residents and investors
- Planning has been approved for conversion for another 2 bed a
Description
Prime Property Auctions presents a rare BRRR opportunity in Carlisle, a 5-bedroom mid-terrace house split into three flats. The ground floor flat is currently tenanted at £650 per month, providing an annual income of £7,800. Planning permission has been approved to convert the middle and top floors into two large double bedrooms, a bathroom, kitchen, and living area. The property requires full renovation, but once completed, it could command a collective rental income of £21,000 to £23,000 per year, providing a 13% gross yield. The local area has seen strong demand, with recent sales of similar properties reaching £175,000 to £190,000. This property is open to immediate offers and is being sold at a guide price of £160,000, making it an excellent opportunity for shrewd builders, investors, and developers looking for a rare project with remarkable capital growth potential.